Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2006-11-03
2009-12-29
Oyebisi, Ojo O (Department: 3696)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
C705S039000
Reexamination Certificate
active
07640199
ABSTRACT:
A method, system and computer program product for auditing and reconciling custodial accounts. A tool is provided to allow a custodial agent to audit a custodial account at one or more depository institutions at which deposits are held by the custodial agent on behalf of one or more individuals and reconcile such accounts. According to one embodiment, the method includes comparing account balance data from a depository institution for a custodial account against account balance data from a second source for the custodial account, identifying discrepancies between the balance data from the depository institution and the balance data from the second source, identifying a prospective write-off in the amount of one or more of the discrepancies, and prompting the custodial agent to indicate whether the custodial agent accepts the prospective write-off. The prospective write-off may be offset against an account.
REFERENCES:
patent: 6374231 (2002-04-01), Bent et al.
patent: 6601044 (2003-07-01), Wallman
patent: 2002/0091637 (2002-07-01), Bent et al.
patent: 2005/0108149 (2005-05-01), Bent et al.
patent: 2005/0228733 (2005-10-01), Bent et al.
patent: 2006/0129896 (2006-06-01), Rohn
patent: 2006/0212385 (2006-09-01), Bent et al.
patent: 2006/0212389 (2006-09-01), Bent et al.
patent: 2006/0224480 (2006-10-01), Bent et al.
patent: 2007/0005493 (2007-01-01), Kandravy et al.
patent: 2007/0043666 (2007-02-01), Burdette
patent: 2007/0271174 (2007-11-01), Bent et al.
patent: 2008/0046361 (2008-02-01), Bent et al.
patent: 2008/0120228 (2008-05-01), Bent et al.
Lloyds TSB Group PLC (Regulatory News Service, Feb. 11, 2000. WRNS, Part 2, pp. 7-42).
U.S. Appl. No. 11/781,081, Douglas E. Phillips, “Method and System for Allocating Swept Funds Among Banks in a Multiple Bank Deposit Sweep Program,” filed Jul. 20, 2007.
Oyebisi Ojo O
Promontory Interfinancial Network LLC
Sterne Kessler Goldstein & Fox P.L.L.C.
LandOfFree
Auditing and reconciling custodial accounts does not yet have a rating. At this time, there are no reviews or comments for this patent.
If you have personal experience with Auditing and reconciling custodial accounts, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Auditing and reconciling custodial accounts will most certainly appreciate the feedback.
Profile ID: LFUS-PAI-O-4121082