Patent Application
20220138842
The present disclosure relates generally to the field of managing an account. More specifically, the present disclosure relates to methods and apparatuses that facilitate management of an account. Many lenders and holding companies provide services that allow an owner of an account to remotely access account data. The service may be in the form of a software tool that enables remote access to the account. The service may allow the owner to monitor account activity and add or remove holdings from the account. Traditionally, these services limit access to the account to a single individual (e.g., the owner of the account). When the account owner dies or becomes mentally incapacitated, access to the account by designated individuals, such as a power of attorney (POA), can be very difficult. In some cases, account access privileges cannot be obtained without direct intervention by the lender or holding company that manages the account.
In some situations, limiting account access to a single individual may also jeopardize account security. For example, an account owner that is suffering from dementia or another cognitive disease or disorder may be more susceptible to fraudulent activities or that may result in the loss of holdings from an account. In another example, the account owner may be unable to adequately monitor account activity on their own to identify fraudulent transactions. Existing account management services do not provide sufficient safeguards against these types of activities.
One embodiment of the present disclosure relates to a method. The method includes collecting, by a network server, account data for an account from an authentication server. The method includes receiving a request for the account data. The method further includes determining a portion of the account data that may be accessed based on a permissions grid. The method further includes transmitting the portion of the account data to a computing device. The permissions grid includes a list of authorized entities including at least one of an owner of the account or a custodial entity. The permissions grid also includes a list of permissions associated with each entity from the list of authorized entities. In some embodiments, the method further includes crawling through the permissions grid to identify permissions associated with the owner or the custodial entity and selectively restricting the account data based on the permissions.
In some embodiments, the method additionally includes receiving a transaction request to withdrawal an amount of holdings from an account. The transaction request is initiated by one of the owner and the custodial entity. The method may include crawling through the list of permissions associated with the owner or the custodial entity to identify a threshold value associated with the transaction request. The method includes comparing the amount with the threshold value. The method includes submitting the request to the authentication server based on a determination that the amount is below the threshold value.
In some embodiments, the method additionally includes receiving a transaction request, initiated by the custodial entity, to withdrawal an amount of holdings from an account. The method may include crawling through the list of permissions associated with the custodial entity to identify a threshold value associated with the transaction request. The method includes comparing the amount with the threshold value. The method includes transmitting a notification of the transaction request to the computing device based on a determination that the amount exceeds the threshold value. In some embodiments, the notification prompts the owner or another entity from the list of authorized entities to view and approve or deny the transaction request.
In some embodiments, the transaction request may be initiated by the owner and the notification prompts the custodial entity to view and approve or deny the transaction request.
In some embodiments the transaction request includes a note including comments associated with the transaction request. The method may include storing the note as part of a non-modifiable list of transaction operations.
In some embodiments, the method additionally includes receiving a request from the computing device to modify permissions for the custodial entity. The permissions may include an access permission and a threshold value. The threshold value may be an amount of a transaction or a number of transactions. The method may include updating the permissions in the permissions grid.
Another embodiment of the present disclosure relates to a method. The method includes transmitting, by a computing device, a request for account data for an account. The request is initiated by an owner of the account or by a custodial entity. The method includes receiving a portion of the account data. The portion of the account data is determined based on a permissions grid. The permissions grid includes a list of authorized entities including at least one of the owner and the custodial entity. The permissions grid also includes a list of permissions associated with each entity from the list of authorized entities. The method further includes displaying the portion of the account data on a user interface of the computing device.
In some embodiments, the method additionally includes displaying a dashboard configured to provide access to at least one of the owner or the custodial entity to the portion of the account data. The method may include displaying a modifiable permissions grid that summarizes the list of permissions associated with an entity from the list of authorized entities. The method may include modifying an access permission and a threshold value associated with the access permission from the modifiable permissions grid. The threshold value is an amount of a transaction or a number of transactions. The method may include transmitting a request to modify the permissions to a network server.
Another embodiment of the present disclosure relates to a system. The system includes a network server. The network server includes a transceiver, memory, and a processor operatively coupled to the transceiver and memory. The transceiver is configured to transmit and receive data from an authentication server, which contains account data for an account. The memory is configured to store the account data retrieved from the authentication server. The memory is also configured to store a permissions grid that includes a list of authorized entities including at least one of an owner of the account or a custodial entity. The permissions grid also includes a list of permissions associated with each entity from the list of authorized entities. The processor is configured to determine a portion of the account data that may be accessed based on the permissions grid.
In some embodiments, the system may include a computing device including memory configured to store an application. The application may include a dashboard configured to provide access by at least one of the owner or the custodial entity to the portion of the account. The dashboard may be configured to provide access to a modifiable permissions grid that summarizes the list of permissions associated with an entity from the list of authorized entities.
In some embodiments, the computing device is configured to collect, and transmit to the network server, a signature entered into the application from the user interface by the owner or the custodial entity.
In some embodiments, the application includes a setup wizard. The setup wizard may be configured to prompt the owner, an authorized custodial entity, or an administrator, to specify the list of authorized entities and the list of permissions. The setup wizard may be configured to prompt the owner, the authorized entity, or the administrator, to enter implementation criteria that determines a point at which access to the dashboard is provided to the custodial entity.
Another embodiment of the present disclosure relates to a non-transitory computer-readable medium having computer-readable instructions stored thereon that, upon execution by a processor, cause a computing device to perform operations. The instructions include instructions to collect account data for an account from an authentication server. The instructions also include instructions to determine a portion of the account that may be accessed based on a permissions grid. The permissions grid includes a list of authorized entities. The list of authorized entities includes at least one of an owner of the account and a custodial entity. The permissions grid also includes a list of permissions associated with each entity from the list of authorized entities. The instructions further include instructions to transmit the portion of the account data to a computing device.
In some embodiments, the instructions to determine a portion of the account data that may be accessed include instructions to crawl through the permissions grid to identify permissions associated with the owner or the custodial entity and instructions to selectively restrict the account data based on the permissions. In some embodiments, the instructions further include instructions to generate and transmit a modifiable permissions grid that summarizes the list of permissions associated with an entity from the list of authorized entities. The modifiable permissions grid may provide functionality that allows at least one of the owner and the custodial entity to modify permissions associated with the entity including an access permission and a threshold value.
Described herein are methods and systems for account monitoring and management by multiple individuals including an owner of an account and a custodial entity. The custodial entity may be an entity who is authorized by the owner of the account to perform certain account management functions. The disclosed methods and systems provide functionality by which both the owner and the custodial entity may be selectively authorized or prevented from performing a variety of account functions based on numerous thresholds. The disclosed methods and systems also provide functionality by which both the owner and the custodial entity may request and set authorizations to act with respect to the account (e.g., functionality by which the owner and the custodial entity may request a change to one or more account permissions/thresholds, etc.). Among other benefits, providing multiple designated entities with access to an account may help reduce the burden on elderly individuals, or individuals who are no longer capable of effectively managing their accounts on their own. The ability to designate different access permissions and change permissions also provides a safeguard against fraudulent activities that may be undertaken by a single entity.
An illustrative embodiment of a custodial account management system includes a network server, a computing device, and an authentication server. The network server is configured to collect account data for an account from the authentication server. The network server, in response to a request for the account data by an owner of the account or a custodial entity, is configured to determine a portion of the account data that may be accessed. The portion of the account data is determined based a permissions grid. The permissions grid includes a list of authorized entities including the custodial entity. In some embodiments, the list of authorized entities also includes the owner. The permissions grid further includes a list of permissions associated with each entity from the list of authorized entities. The network server may be configured to crawl through (e.g., step through, examine, etc.) the permissions grid to identify permissions associated with the custodial entity and selectively restrict the account data based on the permissions. The network server is configured to transmit the portion of the account data to the computing device. The computing device may include a user interface from which the owner or the custodial entity may view the portion of the account data and perform various account management functions.
According to an illustrative embodiment, the computing device is configured to display a custodial dashboard that includes a viewable portion of the account data. The custodial dashboard also provides functionality by which the owner may view and modify permissions associated with the account. In some embodiments, the custodial dashboard also provides functionality by which the custodial entity may view and modify permissions associated with the account.
According to an illustrative embodiment, each of the authentication servers 106, 108 is configured to provide access to a single secure account. Alternatively, each authentication server 106, 108 may provide access to more than one account. The authentication servers 106, 108 are configured to validate and authenticate remote connections to ensure that only authorized devices are able to access the servers, applications, storage, or other resources behind the authentication servers 106, 108. In some implementations, the authentication servers 106, 108 may be network servers for a banking or other financial institution. Each authentication server 106, 108 may be configured to provide access to account data including account balances, transaction histories, and security credentials associated with the account. The account may be a transactional account from which an individual can safely store money or other holdings, or a mortgage account or other lien account to which an individual can submit payments. Alternatively, the account may be an investment account through which the individual may purchase and trade stocks, mutual funds, and/or other business holdings. In some embodiments, the account may be a business account owned and managed by authorized individuals within the company. The authentication server 106, 108 may provide access to a variety of account management functions. For example, the authentication server 106, 108 may provide a user (e.g., an owner of the account, an authorized custodial entity, etc.) with the ability to move holdings (e.g., money, etc.) between different accounts, to withdrawal money from the account, and/or to deposit money into the account. An illustrative embodiment of an authentication server 200 is described in more detail with reference to
As referred to herein, an “owner” of the account is an individual person or group of people with direct ownership, or who have a stake in ownership, over the holdings in the account. A “custodial entity” is an individual who is authorized by the owner to access at least a portion of the account. For example, a transactional account may be owned by a single person who invests their earnings into the account. The individual may designate one or more entities access privileges that enable the entities to view transactions and account balances, or move holdings into and out of the account. In this example, the owner of the account is the individual whose earnings are invested in the account, while each designee is a custodial entity.
The network server 104 is configured to collect information from each authentication server 106, 108. The network server 104 may be configured to collect account data such as account balances, transaction history, etc. from each authentication server 106, 108. The network server 104 may be configured to transmit user credentials to each authentication server 106, 108 so as to identify itself to each authentication server 106, 108. In alternative embodiments, the network server 104 may also function as an authentication server 106, 108 (e.g., the network server 104 may store account data, provide access to a variety of account management functions, etc.).
As shown in
The computing device 102 is configured to transmit and receive data (e.g., commands, instructions, values, etc.) from the network server 104. The computing device may be any network connected device including a laptop, a mobile phone, a tablet, or another internet connected device. The computing device 102 may be configured to transmit a request for account data to the network server 104 on behalf of an owner of the account or a custodial entity. The computing device 102 may be configured to receive a portion of the account data based on credentials provided by the computing device 102 to the network server 104 (e.g., user credentials associated with the owner or the custodial entity). The computing device 102 may be configured to display the portion of the account data to the owner or the custodial entity. In some implementations, the computing device 102 may be configured to transmit transaction requests to the network server 104 including withdrawal requests in which money or other holdings are to be debited from the account and deposit requests in which money or other holdings are to be credited to the account. The computing device 102 may also be configured to transmit requests to modify one or more permissions associated with access to the account. An illustrative embodiment of a computing device 400 is described in more detail with reference to
As shown in
The transceiver 206 may include a transmitter for transmitting information and/or a receiver for receiving information. According to an illustrative embodiment, the transceiver 206 is configured to receive requests and instructions from the network server 104 (see also
The processor 208 may be operatively coupled to each of the components of the authentication server 200, and may be configured to control interaction between the components. For example, the processor 208 may be configured to interpret requests and/or instructions received by the transceiver 206, to retrieve (e.g., access and sort through) account data stored in memory 204, and to route the account data to the transceiver 206 for transmission to the network server 104. The processor 208 may also be configured to verify user credentials so as to prevent unwanted access to account data and other functions related to the management and security of the account.
Memory 304 may be configured to store an application. The application may include instructions to generate a dashboard configured to provide access to the owner or the custodial entity to a portion of account data received from the authentication server 106, 108 (see also
The transceiver 306, which may be similar to the transceiver 206 described with reference to
The processor 308 may be operatively coupled to each of the components of the network server 300, and may be configured to control interaction between the components. For example, the processor 308 may be configured to process and interpret requests received from the computing device 102 including requests for account data that are initiated by an owner of the account or a custodial entity. In an illustrative embodiment, the processor 308 is configured to determine a portion of the account data that may be accessed by the owner of the account or the custodial entity (e.g., a requestor). The processor 308 may be configured to crawl through the permissions grid stored in memory 304 and identify whether the requestor has access to the account. The processor 308 may be configured to step through the list of authorized entities in the permission grid and compare credentials provided by the requestor with each entity. The processor 308 may be configured to identify permissions associated with the requestor and selectively restrict the account data based on the permissions. The processor 308 may be configured to transmit the unrestricted portion of the account data to the computing device 102 using the transceiver 306.
According to an illustrative embodiment, the network server 300 is a cloud computing device. The network server 300 may be part of Amazon web services (AWS), an Azure cloud-based server, or another cloud computing service or platform. The network server 300 may include an application including processing instructions for transaction requests and/or other data processing instructions. The network server 300 may be accessed using any network connected device. For example, the network server 300 may be accessed from an internet connected desktop computer, or wireless device such as a laptop, tablet, or mobile phone.
The transceiver 406 may be the same or similar to the transceiver 206 described with reference to
The user interface 408 may be used by the owner of the account or the custodial entity to view account data and/or to submit, view, and approve or deny transaction requests. The user interface 408 may include a display such as a liquid crystal display (LCD) or other display for conveying information. The display may be configured to display the application (e.g., the dashboard) stored in memory 404. The user interface 408 may include controls, buttons, dials, or another controls interface from which the owner or the custodial entity may interact with the application. The user interface 408 may also include one or more speakers. The speakers may be configured to alert the owner or the custodial entity upon receipt of a notification from the network server 104. In alternative embodiments, the user interface 408 may include additional, fewer, and/or different components.
The processor 410 may be operatively coupled to each of the components of the computing device 400, and may be configured to control interaction between the components. In an illustrative embodiment, the processor 410 is configured to process and interpret data received by the transceiver 406 (e.g., account data, requests, and/or instructions from the network server 104). The processor 410 may be configured to construct, from the account data, a dashboard from which the portion of the account data received from the network server 104 may be accessed. The processor 410 may be configured to access memory 404 to determine personalization parameters for the dashboard. The processor 410 may be configured to interpret inputs from the user interface 408, and to transmit inputs and/or other instructions to the network server 104 using the transceiver 406.
In operation 502, the network server collects account data from an authentication server. The account data may include account data such as account balances and a transaction history. The transaction history may include a listing of withdrawals from the account and deposits into the account. The transaction history may include information that identifies an entity associated with each transaction request (e.g., an owner of the account or a custodial entity). The transaction history may also include notes, memos, or other information provided with each transaction request. The transaction history may also include information identifying each entity that approved the transaction request.
In operation 504, the network server receives a request for account data from the owner of the account or the custodial entity. The owner or the custodial entity may initiate the request from an application on the computing device. For example, the owner or the custodial entity may open the application and enter a set of user credentials identifying the owner or the custodial entity. The credentials may be submitted to the network server where they are treated as a request for account data.
In operation 506, the network server determines a portion of the account data that may be accessed by the owner or the custodial entity based on a permissions grid so as to selectively prevent unwanted access to the account.
As shown in
The notification permissions 716 are configured to determine which entities 704, 706, 708 from the list of authorized entities 702 receive a notification, and for what reasons notifications are sent. Notifications may be utilized to facilitate monitoring and approval of a variety of different account functions. The notification permissions 716 may include permissions for single or dual custody approvals for transaction requests so as to prevent fraudulent transactions by one or more entities 704, 706, 708. The owner of the account may use the notification permissions 716 to select a designated approver (e.g., another entity 704, 706, 708 from the list of authorized entities 702, etc.). The notification permissions 716 for the designated approver may include a list of transaction operations 730. The list of transaction operations 730 may include bill payment requests, inter-account transfer requests, stock purchases or sales, requests for cash back, or other withdrawal requests. The notification permissions 716 for the designated approver may also specify a threshold value 732 beyond which approvals are required. According to an illustrative embodiment, the threshold value 732 is a monetary value so as to reduce the possibility of a single entity 704, 706, 708 performing large transactions without the knowledge and/or approval of other entities 704, 706, 708.
The notification permissions 716 may be used to specify entities 704, 706, 708 from the list of authorized entities 702 that receive notifications of an account transfer, an account transfer request, a permissions change, an account statement, or another account function. The notification may include information relating to the transaction type, the party to which money or other holdings are being transferred, and an amount of the transaction. The notification permissions 716 may be used to specify the type of notification that is sent to the computing device associated with the entity 704, 706, 708 (e.g., an audible alert, an informational pop-up, or another notification type). The notification may include a link to an application or the custodial dashboard on the computing device so that additional information about the transaction may be viewed.
The list of permissions 710 described with respect to
A similar approach to method 800 may be utilized by the network server to determine other restrictions (e.g., access restrictions, notifications, etc.) from the permissions grid. Returning now to
In operation 510, the dashboard and the portion of the account data are transmitted from the network server to the computing device. In embodiments where the dashboard is generated by the network server, the dashboard will be pre-populated with the portion of account data that may be accessed by the owner or the custodial entity. In embodiments where the dashboard is generated by the computing device, the method 500 additionally includes an operation to process and interpret the account data, and an operation to incorporate the account data into the dashboard. In operation 512, the dashboard, including the portion of the account data accessible to the owner or the custodial entity, is displayed through the user interface of the computing device (e.g., LCD display, etc.).
As shown in
The permissions portion 904 of the dashboard 900 provides the owner or the custodial entity with the ability to view and modify permissions associated with the account. In an illustrative embodiment, the permissions portion 904 includes a link to a modifiable permissions grid, which provides functionality that allows the owner or the custodial entity to change a permission, or submit a request to change the permission. In some embodiments, the modifiable permissions grid may take the form of the permissions grid 700 as described with reference to
In operation 1004 of
The utility of the permissions grid may be illustrated by way of example. In a first example, the owner specifies an access permission authorizing a custodial entity to remove money or other holdings from an account. The owner also specifies a threshold value. In this example, the threshold value is a maximum amount that the custodial entity may debit from the account, for example, $1000. Using the computing device, the custodial entity initiates a transaction request to withdrawal money from the account. The custodial entity specifies an amount of money to withdrawal from the account by entering a value into the computing device (e.g., via the user interface of the computing device). The transaction request, including the type of request and the requested amount, is submitted by the computing device to the network server. A processor of the network server compares the requested amount to the threshold value to determine whether to accept or reject the request. The processor crawls through the permissions grid to determine whether the custodial entity has permission to perform a withdrawal. If the appropriate access permission (e.g., a withdrawal permission) is provided, the processor crawls through the permissions grid to identify the associated threshold value, in this case $1000. The processor compares this value with the requested amount. If the requested amount is equal to or below $1000, the processor approves the request (e.g., the processor submits the request to the authentication server to complete the request). If the requested amount is above $1000, the processor rejects the request. The processor may generate a notification to alert the custodial entity of the rejection. The processor may also generate a notification of the transaction request to an owner of the account or to another custodial entity so that they may take appropriate action.
In a second example, the custodial entity specifies an access permission authorizing the owner to remove money or other holdings from an account. The custodial entity specifies a threshold value. In this example, the threshold value is a maximum amount of money the owner can remove from the account, for example $500, without requiring the approval of the custodial entity. Using the computing device, the owner initiates a transaction request to withdrawal money from the account. The owner specifies an amount of money to withdrawal from the account by entering a value into the computing device (e.g., via the user interface of the computing device). The transaction request, including the type of request and the requested amount, is submitted by the computing device to the network server. A processor of the network server compares the requested amount to the threshold value to determine whether to accept the request or to generate a notification prompting the custodial entity to view and approve or deny the request. The processor crawls through the permissions grid to identify whether the owner has permission to perform the withdrawal. The processor crawls through the permissions grid to identify the associated threshold value, in this case $500. The processor compares this value with the requested amount. If the requested amount is above $500, the processor generates a notification and submits the notification to a computing device for the custodial entity. The notification prompts the custodial entity to view and approve or deny the request. The notification may include an alert, pop-up, e-mail communication, or another form of notification. The custodial entity may utilize the user interface of the computing device to approve or deny the request (e.g., by viewing transaction details displayed on the user interface and selecting an “approve” button or a “deny” button). Inputs specified by the custodial entity may be submitted to the network server. If the network server receives an indication of approval, the network server may submit the transaction request to the authentication server for further processing.
The scenarios provided in the foregoing examples are provided for illustrative purposes only. Various alternative implementations are possible without departing from the inventive concepts disclosed herein. In any of the above examples, the roles of the custodial entity and the owner may be reversed. Additionally, the roles may be performed by two independent custodial entities.
Returning to
Returning to
In step 1216, the computing device displays or otherwise alerts the owner or the custodial entity of the notification. The notification may include an audible alert notifying the owner or the custodial entity of the transaction request. The notification may also include a text message with high level details about the transaction and/or a link to the transaction request. As shown in
Referring to
Similar dialogue windows may be utilized to facilitate other account activities from the dashboard.
Referring again to
The storage portion 910 of the dashboard 900 may contain protected or privileged data that may be directly or indirectly related to the accounts. For example, the storage portion 910 may include an electronically stored version of a trust or will generated by the owner of the account. Including an electronic version of the trust (e.g., photocopy, electronically administered, etc.) can, advantageously, provide secure access to the trust by only the owner or the custodial entities. The storage portion 910 may also include credentials for other services. For example, the storage portion 910 may include credentials for a mint account, a social media account, or another web service account to facilitate access to these services by the owner, on behalf of the owner by an authorized custodial entity.
As shown in
In operation 1502, the account administrator is prompted to specify the list of authorized entities. The list may be a table of individual names including a temporary set of credentials for each custodial entity. In operation 1504, the account administrator is prompted to specify a list of permissions associated with each custodial entity. In operation 1506, the account administrator is prompted to specify implementation criteria for access by the custodial entities. The implementation criterial may determine a point at which access to the dashboard is provided to each custodial entity. The implementation criteria may be a date or a condition under which access is provided. In an illustrative embodiment, the parameters used to initialize the dashboard, and access to the dashboard by each custodial entity, may be tied (e.g., linked) to a trust or will of the owner of the account. For example, trustees from the trust or will may be utilized to specify a list of authorized entities. The list of permissions could include an approval permission that requires the owner to approve a custodial entity to act as a trustee and perform fiduciary transactions in that role. In operation 1508, the account administrator enters credentials and other information that may be required to link one or more accounts to the custodial management system.
In an illustrative embodiment, any of the operations described herein may be implemented at least in part as computer-readable instructions stored on a computer-readable memory. Upon execution of the computer-readable instructions by a processor, the computer-readable instructions can cause a computing device to perform the operations. For example, with reference to the method 500 of accessing account data as described with reference to
The instructions may include instructions to crawl through the permissions grid to identify permissions associated with the owner or the custodial entity, and instructions to selectively restrict the account data based on the permissions. The instructions may further include instructions to generate and transmit a modifiable permissions grid that provides functionality that allows the owner or the custodial entity to change a permissions associated with the entity or to submit a request to change the permission.
The embodiments described herein have been described with reference to drawings. The drawings illustrate certain details of specific embodiments that implement the systems, methods and programs described herein. However, describing the embodiments with drawings should not be construed as imposing on the disclosure any limitations present in the drawings.
It should be understood that no claim element herein is to be construed under the provisions of 35 U.S.C. § 112(f), unless the element is expressly recited using the phrase “means for.”
As used herein, a processor is implemented as a general-purpose processor, an application specific integrated circuit (ASIC), one or more field programmable gate arrays (FPGAs), a digital signal processor (DSP), a group of processing components, or other suitable electronic processing components. Additionally, in some arrangements, a “processor,” as used herein, is implemented as one or more processors. In certain embodiments, the one or more processors are structured to perform or otherwise execute certain operations independent of one or more co-processors. In other example embodiments, two or more processors are coupled via a bus to enable independent, parallel, pipelined, or multi-threaded instruction execution. In some arrangements, the one or more processors take the form of a single core processor, multi-core processor (e.g., a dual core processor, triple core processor, or quad core processor), microprocessor, etc. In some embodiments, the one or more processors are external to the apparatus, for example, the one or more processors are a remote processor (e.g., a cloud based processor). Alternatively, or additionally, the one or more processors are internal and/or local to the apparatus. Accordingly, an exemplary system for implementing the overall system or portions of the embodiments might include a general purpose computing computers in the form of computers, including a processing unit, a system memory, and a system bus that couples various system components including the system memory to the processing unit.
Additionally, as used herein, a memory includes one or more memory devices including non-transient volatile storage media, non-volatile storage media, non-transitory storage media (e.g., one or more volatile and/or non-volatile memories), etc. In some embodiments, the non-volatile media takes the form of ROM, flash memory (e.g., flash memory such as NAND, 3D NAND, NOR, or 3D NOR), EEPROM, MRAM, magnetic storage, hard discs, optical discs, etc. In some embodiments, the volatile storage media takes the form of RAM, TRAM, ZRAM, etc. Combinations of the above are also included within the scope of machine-readable media. In this regard, machine-executable instructions comprise, for example, instructions and data which cause a general purpose computer, special purpose computer, or special purpose processing machines to perform a certain function or group of functions. In various arrangements, each respective memory device is operable to maintain or otherwise store information relating to the operations performed by one or more associated circuits, including processor instructions and related data (e.g., database components, object code components, or script components), in accordance with the example embodiments described herein.
It should be understood that a “transceiver” as used herein, includes any of a cellular transceiver (Code Division Multiple Access (CDMA), Global System for Mobile Communications (GSM), Long-Term Evolution (LTE), etc.), a wireless network transceiver (e.g., 802.11X, ZigBee, or Bluetooth), or a combination thereof (e.g., both a cellular transceiver and a Bluetooth transceiver). In some arrangements, a transceiver includes hardware and machine-readable media sufficient to support communication over multiple channels of data communication. Further, in some arrangements, the transceiver includes cryptography capabilities to establish a secure or relatively secure communication session between the device including the transceiver and other devices of the system. In this regard, data is encrypted and transmitted to prevent or substantially prevent the threat of hacking.
Any foregoing references to currency or funds are intended to include fiat currencies, non-fiat currencies (e.g., precious metals), and math-based currencies (often referred to as cryptocurrencies). Examples of math-based currencies include Bitcoin, Litecoin, Dogecoin, and the like.
It should be noted that although the diagrams herein show a specific order and composition of method steps, it is understood that in various embodiments the order of these steps differs from what is depicted. As an example, two or more steps are performed concurrently or with partial concurrence. Also, in various embodiments, some method steps that are performed as discrete steps are combined, steps being performed as a combined step are separated into discrete steps, the sequence of certain processes is reversed or otherwise varied, and/or the nature or number of discrete processes is altered or varied. Furthermore, the order or sequence of any element or apparatus is varied or substituted according to alternative embodiments. Accordingly, all such modifications are intended to be included within the scope of the present disclosure as defined in the appended claims. Such variations will depend on the machine-readable media and hardware systems chosen and on designer choice. It is understood that all such variations are within the scope of the disclosure. Likewise, software and web implementations of the present disclosure could be accomplished with standard programming techniques, with rule-based logic and other logic to accomplish the various database searching steps, correlation steps, comparison steps and decision steps.
The foregoing description of embodiments has been presented for purposes of illustration and description. It is not intended to be exhaustive or to limit the disclosure to the precise form disclosed, and modifications and variations are possible in light of the above teachings or as acquired from this disclosure. The embodiments were chosen and described in order to explain the principals of the disclosure and its practical application to enable one skilled in the art to utilize the various embodiments and with various modifications as are suited to the particular use contemplated. Other substitutions, modifications, changes and omissions can be made to the design, operating conditions and arrangement of the embodiments without departing from the scope of the present disclosure as expressed in the appended claims.
