Method of transferring funds employing a three-node real-time electronic interlock
US5884290A · kind A · utility
Assignee
Inventors
Key dates
| Filing date | Oct 22, 1996 |
| Grant date | Mar 16, 1999 |
| Priority date | — |
| Expiry date | Oct 22, 2016 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/403
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method of transferring funds electronically, is performed by a group of N computers X(1) thru X(N) which are intercoupled to each other, and to another computer Y, by a communication channel. Each computer of the group includes multiple customer accounts, and the computer Y includes a net account for each computer of the group. To initiate the transfer of funds between two customer accounts, a customer sends an input request to one of computers X(i) of the group; and this input request specifies that funds F(z) be transferred in a particular direction between a customer account A(r) in computer X(i) and a customer account A(s) in another computer X(j) of the group. For each input request that is received by computer X(i), a respective sequence of electronic control messages is sent on the communication channel among the computers X(i), X(j) and Y. By this sequence of control messages, computer X(i) tests the status of customer account A(r); computer X(j) tests the status of customer account A(s); and computer Y tests the status of the net accounts for computers X(i) and X(j). If all of the tests by the computers X(i) and x(j) are satisfied, then those computers both authorize com…
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