Mark P Jacobsen

US Patent:

7376606, May 20, 2008

Filed:

Jan 17, 2003

Appl. No.:

10/347128

Inventors:

Mark P. Jacobsen - Arlington VA, US

Assignee:

Promontory Interfinancial Network, LLC - Arlington VA

International Classification:

G06Q 40/00

US Classification:

705 35

Abstract:

An Interbank Deposit Placement System (IDPS) that allows banks participating in the service to offer their customers multiple deposits so that potential deposit (fund) amounts exceeding an applicable Federal deposit insurance limit (e. g. , $100,000) are fully insured. The IDPS partitions each of the potential deposit amounts into a plurality of deposit portions that do not exceed the Federal deposit insurance limit. In one embodiment, a proposed list of banks to which the deposit portions are allocated is presented to a recipient (e. g. , bank representative, depositor) who is offered the option of modifying the proposed list during an established time window. After the time window expires, a deposit is established on behalf of each bank on the list to which the specific deposit portion was allocated by the processor.

US Patent:

7440914, Oct 21, 2008

Filed:

Apr 17, 2002

Appl. No.:

10/124462

Inventors:

Mark P. Jacobsen - Arlington VA, US

Assignee:

Promontory Interfinancial Networks, LLC - Arlington VA

International Classification:

G06Q 40/00

US Classification:

705 35, 705 39

Abstract:

An Interchange service that allows member banks participating in the service to offer their customers multiple certificates of deposit (“Multi-CDs”) so that large deposits exceeding an applicable Federal deposit insurance limit (e. g. , $100,000) are fully insured. The Interchange partitions each of the large deposits into a plurality of deposit portions that do not exceed the Federal deposit insurance limit. The deposit portions are assigned to the member banks so that, for each member bank, the difference between funds flowing out of and into each member bank is minimized or eliminated. Differences in deposit terms offered by each of the member banks are monetized and resolved through the calculation and payment of present value payments, which are transferred between member banks that have different sets of deposit terms.

US Patent:

7596522, Sep 29, 2009

Filed:

Feb 26, 2009

Appl. No.:

12/393739

Inventors:

Mark P. Jacobsen - Arlington VA, US

Assignee:

Promontory Interfinancial Network, LLC - Arlington VA

International Classification:

G06Q 40/00

US Classification:

705 35

Abstract:

A computer program product is provided that includes computer-readable media encoded with instructions that, when executed by a processor, process large deposits that exceed an established deposit insurance limit so that the large deposits are fully insured. The large deposits are received by a plurality of unaffiliated banks from their depositors. Orders are placed by the plurality of unaffiliated banks to process the large deposits. Each of the large deposits is partitioned into a plurality of deposit portions so that each deposit portion does not exceed the established deposit insurance limit. At least some of the deposit portions are assigned to at least some of the unaffiliated banks for deposit therein. In this manner, at least some of the unaffiliated banks that place orders to process large deposits also receive deposit portions from other unaffiliated banks that place orders to process large deposits.

US Patent:

7603307, Oct 13, 2009

Filed:

Feb 3, 2009

Appl. No.:

12/364986

Inventors:

Mark P. Jacobsen - Arlington VA, US

Assignee:

Promontory Interfinancial Network, LLC - Arlington VA

International Classification:

G06Q 40/00

US Classification:

705 35

Abstract:

A computer-implemented method of processing large deposits that exceed an established deposit insurance limit is provided so that the large deposits are fully insured. The large deposits are received by a plurality of unaffiliated banks from their depositors. A processor receives orders placed by the plurality of unaffiliated banks to process the large deposits. The processor partitions each of the large deposits into a plurality of deposit portions, each deposit portion not exceeding the established deposit insurance limit. The processor assigns at least some of the deposit portions to at least some of the unaffiliated banks for deposit therein. In this manner, at least some of the unaffiliated banks that place orders to process large deposits also receive deposit portions from other unaffiliated banks that place orders to process large deposits.

US Patent:

7899743, Mar 1, 2011

Filed:

May 15, 2008

Appl. No.:

12/120944

Inventors:

Mark P. Jacobsen - Arlington VA, US

International Classification:

G06Q 40/00

US Classification:

705 39, 705 35, 705 42

Abstract:

An Interbank Deposit Placement System (IDPS) that allows banks participating in the service to offer their customers multiple deposits so that potential deposit (fund) amounts exceeding an applicable Federal deposit insurance limit (e. g. , $100,000) are fully insured. The IDPS partitions each of the potential deposit amounts into a plurality of deposit portions that do not exceed the Federal deposit insurance limit. In one embodiment, a proposed list of banks to which the deposit portions are allocated is presented to a recipient (e. g. , bank representative, depositor) who is offered the option of modifying the proposed list during an established time window. After the time window expires, a deposit is established on behalf of each bank on the list to which the specific deposit portion was allocated by the processor.

US Patent:

7899745, Mar 1, 2011

Filed:

Jul 23, 2010

Appl. No.:

12/842739

Inventors:

Mark P. Jacobsen - Arlington VA, US

Assignee:

Promontory Interfinancial Network, LLC - Arlington VA

International Classification:

G06Q 40/00

US Classification:

705 39, 705 35, 705 42

Abstract:

An automated method is provided for processing large deposits that exceed an established deposit insurance limit so that the large deposits are fully insured. The large deposits are received from a plurality of unaffiliated banks from their respective depositors. The method is operated by an entity that processes the large deposits using a processor. The processor receives orders sent from the plurality of banks to process large deposits. Each of the large deposits are partitioned using the processor into a plurality of deposit portions, each deposit portion not exceeding the established deposit insurance limit. The processor assigns at least some of the deposit portions for each of the large deposits to at least some of the unaffiliated banks other than the bank that received the large deposit for deposit therein. The processor receives a fee from each of the banks that sent an order and credits the fee to the entity that processes the large deposits.

US Patent:

7899746, Mar 1, 2011

Filed:

Aug 2, 2010

Appl. No.:

12/848734

Inventors:

Mark P. Jacobsen - Arlington VA, US

Assignee:

Promontory Interfinancial Network, LLC - Arlington VA

International Classification:

G06Q 40/00

US Classification:

705 39, 705 35, 705 42

Abstract:

An automated method and article of manufacture are provided for processing large deposits that exceed an established deposit insurance limit so that the large deposits are fully insured. The large deposits are received by a plurality of banks from their depositors. A processor receives an order from a bank to process a large deposit. The processor partitions the large deposit into a plurality of deposit portions such that each deposit portion does not exceed the established deposit insurance limit. A network of banks is provided for receiving the plurality of deposit portions for deposit therein. The processor determines if there is an insufficient number of banks within the network of banks to receive all of the deposit portions. A loan is obtained from a lending bank using the processor if it is determined that there is an insufficient number of banks within the network of banks to receive all of the deposit portions. The amount of the loan is equal to the amount of the order to process the large deposit minus the amount that the network of banks can receive.

US Patent:

7899747, Mar 1, 2011

Filed:

Aug 2, 2010

Appl. No.:

12/848743

Inventors:

Mark P. Jacobsen - Arlington VA, US

Assignee:

Promontory Interfinancial Network, LLC - Arlington VA

International Classification:

G06Q 40/00

US Classification:

705 39, 705 35, 705 42

Abstract:

An automated method is provided for processing large deposits that exceed an established deposit insurance limit so that the large deposits are fully insured. The large deposits are received from a plurality of banks from their respective depositors. A processor receives orders from the plurality of banks to process large deposits. The processor prioritizes the orders for order filling based on an order matching process that simultaneously processes multiple orders as part of the order matching process. The processor partitions each of the large deposits into a plurality of deposit portions in a manner such that each deposit portion does not exceed the established deposit insurance limit. The processor assigns at least some of the deposit portions for each of the large deposits to at least some banks other than the bank that received the large deposit for deposit therein, wherein the assigning occurs based at least in part on the results of the order matching process.

Address:

1307 N Danville St, Arlington, VA 22201

Phone:

7035277865

VIN:

JTEBU11F470014978

Make:

TOYOTA

Model:

FJ CRUISER

Year:

2007