Straight-through processing

Abstract: The present invention provides a system and method that enables users, such as institutional investors and financial institutions, to interactively engage in capital market transactions, including the trading of Over-the-Counter financial products, via the Internet (including the World Wide Web). The system includes a variety of servers, applications, and interfaces that enable users to interactively communicate and trade financial instruments among one another. Interactive communications supported by the system include: requesting price quotes, monitoring and reviewing quote requests, issuing price quotes, monitoring and reviewing price quotes, negotiation between users, acceptance of price quotes, reporting, portfolio management, analysis of financial information and market data, and communications among users via an automated processor. Such automated communications enable connectivity with users' internal, back-end systems to execute automated, straight-through processing, including transaction pricing, payment scheduling and journaling, derivatives trading, trade confirmation, and trade settlement.

Abstract: A system integrates credit card transactions into a financial management system used by a company to track and control budgets, etc The system provides the controls and accounting for credit card transactions found for other types of transactions within the financial management system The invention limits the card transactions using various limits not available to a credit card issuer and ensures that the transactions comply the financial system controls The transactions can be obligated prior to or during the actual transaction with the bank and thereby subjected to the controls of the financial management system Obligated transactions can be authorized for immediate payment The invention provides for the complete reconciliation of the credit card transactions with bank records after the transactions occur using the obligation function to capture the transaction before it occurs, even the transactions that are immediately paid The system reconciles the transactions recorded by the bank with those recorded in the financial system and updates budget, plan, project, and ledger entries accordingly The system also allows cardholders to identify disputes and track the correspondence with the card issuer over the dispute

Abstract: A financial transaction system utilizes multi-factor authentication to secure financial transactions. The system comprises a portable transaction device (e.g. a wireless phone) which is used to program the magnetically or electronically reprogrammable stripe of a magnetic stripe card or the memory of a smart card. A single-use account number may be used to program the card. The device provides biometric authentication and secondary authentication using a secondary wireless device. The device and the programmed cards are used in various financial transactions.

Abstract: Various embodiments of the invention provide a more secure financial transaction system for e-commerce sectors that (1) more securely processes payment transactions, (2) helps to protect merchants and banks against fraudulent transactions, money laundering, and underage gambling, and (3) helps to limit other abuses in areas of e-commerce that are perceived to pose special risks, such as Internet gaming, travel, and consumer purchasing of electronic goods. To accomplish the above goals, various embodiments of the financial transaction system (1) establish operating and transaction processing protocols for merchants, Internet payment service providers, acquiring banks, and card schemes and (2) provide automated systems for monitoring and securely processing payment and financial transactions.