System and method for an exchange of financial instruments
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United States of America Patent
Stats
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Jun 22, 2010
Grant Date -
Oct 5, 2006
app pub date -
Mar 31, 2005
filing date -
Mar 31, 2005
priority date (Note) -
In Force
status (Latency Note)
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Abstract
Provided is a method and system for an online marketplace for the buying, selling and Servicing of financial instruments, such as accounts receivable, where the online marketplace receives and analyzes Account data from a Reporting Agency Database, such as a Consumer Reporting Agency Database. The online marketplace may include a plurality of business logic Components, including an Analysis Component, an Inventory Management Component, an Offer Component, a Transaction Component, a Post-Transaction Component, a Receivables Management Knowledge Base and a Servicing Component. The Receivables Management Knowledge Base applies industry rules and regulations to the data. Users of the online marketplace may be Account Owners, Buyers, sellers, Servicers and the like. Users flag Accounts in the Consumer Reporting Agency database to be placed for sale on the online marketplace. Users may also define Selection Criteria for automatic buying, automatic selling, alerts or other such business rules.
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