WO2001031536A2 - Procede et systeme d'achat d'actions direct, et procede de mise en oeuvre - Google Patents
Procede et systeme d'achat d'actions direct, et procede de mise en oeuvre Download PDFInfo
- Publication number
- WO2001031536A2 WO2001031536A2 PCT/US2000/029200 US0029200W WO0131536A2 WO 2001031536 A2 WO2001031536 A2 WO 2001031536A2 US 0029200 W US0029200 W US 0029200W WO 0131536 A2 WO0131536 A2 WO 0131536A2
- Authority
- WO
- WIPO (PCT)
- Prior art keywords
- customer
- registration
- information
- investor
- Prior art date
Links
Classifications
-
- H—ELECTRICITY
- H04—ELECTRIC COMMUNICATION TECHNIQUE
- H04L—TRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHIC COMMUNICATION
- H04L63/00—Network architectures or network communication protocols for network security
- H04L63/08—Network architectures or network communication protocols for network security for authentication of entities
- H04L63/0823—Network architectures or network communication protocols for network security for authentication of entities using certificates
-
- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q30/00—Commerce
- G06Q30/02—Marketing; Price estimation or determination; Fundraising
Definitions
- the present invention relates to a system and method for verifying on-line information, and more particularly, to a system and method for enabling a customer of a partner company to directly purchase equity from the company on-line.
- Computer networking allows network computer users to share information, software applications and hardware devices and internetworking enables a set of physical networks to be connected into a single network such as the Internet.
- Today, computers connected to the Internet have almost instant access to information stored in relatively distant regions.
- computers connected to networks other than the Internet also have access to information stored on those networks.
- the World Wide Web (Web) a hypermedia system used on the Internet, enables hypertext linking, whereby documents automatically reference or link other documents located on connected computer networks around the world.
- users connected to the Internet connected computer networks around the world Thus, users connected to the Internet have almost instant access to information stored in relatively distant regions.
- a page of information on the Web may include references to other Web pages and may include a broad range of multimedia data including textual, graphical, audio, and animation information.
- Internet users retrieve information from the
- the web site is, in general terms, a server application that displays information stored on a network server computer.
- the web site accepts connections from client programs, such as Internet browser applications.
- Browser applications such as
- HTTP Hyper Text Transport Protocol
- CSP Customer Stock Plan
- the system includes a direct stock purchase system, a transfer agent/plan administrator, and a payment system.
- the customer/investor accesses the system through the direct stock purchase system.
- the system obtains enrollment information from the investor and forwards the information to the transfer agent.
- the transfer agent processes the enrollment requests and returns stock information from the Open Market[please define Open market] to the direct stock purchase system.
- the system accommodates a variety of different payment mechanisms and obtains investments and fees directly from the investor's bank or another financial account.
- the direct stock purchase system includes a client application, which is a Web application; a Web server component that manages connectivity with the client application; and a backend database that maintains information.
- the client application includes a user authentication component and SSL connectivity to the Web server to ensure that only authorized users access the system.
- the direct stock purchase system uses the investor's personal and billing data to authenticate the investorand to enroll the investor in the direct stock purchase plan.
- the investor is informed of a successful registration and the investor's account is placed in a pending status. If the registration application is rejected, the investor is instructed how to proceed via a system-generated e-mail message.
- the registration e-mail instructs the investor to call from a previously specified phone number to activate the assigned account.
- the authentication process verifies the calling phone number used by the investor against the calling telephone's phone number as supplied by Automatic Number Identification
- ANI identity fraud
- the inventive system therefore greatly reduces the likelihood of identity fraud in on-line purchases. It is another object of the invention to issue a digital identifier for the investor to create a digital signature, a challenge phrase and a password for enabling only the authorized investor to access the account. It is another object of the invention to enable the investor to proceed with enrollment in the company's direct stock purchase plan by entering the amount to be invested in the company, after the registration process is complete.
- SEC United States Securities and Exchange Commission
- the present invention provides a [independent claim to be inserted here -apn]
- the present invention also provides a [independent claim to be inserted here - apn]
- the present invention also provides a [independent claim to be inserted here -
- the present invention also provides a [independent claim to be inserted here - apn]
- Fig. 1 illustrates a computer network in which the inventive system may be incorporated
- Fig. 2 illustrates the TCP/IP Layering Model Protocol used during communications between components on the computer network
- Fig. 3 illustrates a system that allows a partner company to establish a direct online connection with customers who want to purchase the company's equity
- Fig. 4 illustrates the components of the direct stock purchase system
- Fig. 5 illustrates a company web page with a link to direct stock purchase system 302
- Fig. 6 illustrates components of the authentication process, each of which performs a specific function
- Fig. 7 illustrates the information that the investor is required to enter in the system to purchase equity on-line
- Fig. 8 illustrates the steps implement by the inventive system.
- Fig. 1 is an example of a local area network (LAN) 100 that is configured to utilize a non-repudiation protocol.
- LAN 100 comprises a server 102, four computer systems 104-110, and peripherals, such as printers and other devices 112, that may be shared by components on LAN 100.
- Computer systems 104-110 may serve as clients for server 102 and or as clients and/or servers for each other and/or for other components connected to LAN 100.
- Components on LAN 100 are preferably connected together by cable media, for example copper or fiber-optic cable and the network topology may be a token ring topology 114.
- cable media for example copper or fiber-optic cable
- the network topology may be a token ring topology 114.
- other media for example, wireless media, such as optical and radio frequency, may also connect LAN 100 components.
- network topologies, such as Ethernet may be used.
- Routers 120, 122 create an expanded network by connecting LAN 100 to other computer networks, such as the Internet, other LANs or Wide Area Networks (WAN).
- Routers are hardware devices that may include a conventional processor, memory, and separate I/O interface for each network to which it connects.
- components on the expanded network may share information and services with each other.
- All components on the expanded network and the routers that connect them must adhere to a standard protocol.
- Computer networks connected to the Internet and to other networks typically use TCP/IP Layering Model Protocol. It should be noted that other internetworking protocols may be used.
- TCP/IP Layering Model comprises an application layer (Layer 5) 202, a transport layer (Layer 4) 204, an Internet layer (Layer 3) 206, a network interface layer (Layer 2) 208, and a physical layer (Layer 1) 210.
- Application layer protocols 202 specify how each software application connected to the network uses the network.
- Transport layer protocols 204 specify how to ensure reliable transfer among complex protocols.
- Internet layer protocols 206 specify the format of packets sent across the network as well as mechanisms used to forward packets from a computer through one or more routers to a final destination.
- Network interface layer protocols 208 specify how to organize data into frames and how a computer transmits frames over the network.
- Physical layer protocols 210 correspond to the basic network hardware.
- Fig. 3 illustrates system 300 that allows a partner company (a company registered to offer equity to customers) to establish a direct on-line connection with customers who want to purchase the company's equity.
- System 300 includes direct stock purchase system 302, transfer agent or plan administrator 304, and payment system 306.
- the customer/investor accesses system 300 through direct stock purchase system 302.
- Direct stock purchase system 302 e-mails the partner company's communications and communications required or permitted by a Regulatory Body, such as the SEC, to investors and enables customers/investors to purchase stocks from the partner company.
- a Regulatory Body such as the SEC
- Transfer agent 304 processes the enrollment requests and returns stock information from the Open Market 308 to direct stock purchase system 302. Transfer agent 304 also performs bookkeeping, manages dividend programs and facilitates legally required communications.
- direct stock purchase system 302 is a transparent front end for on-line enrollment and investment requests and an on-line interface for transfer agent 304.
- system 300 accommodates a variety of different payment mechanisms and obtains investments and fees directly from the investor's bank or another account with a financial institution.
- Fig. 4 illustrates the components of direct stock purchase system 302.
- Direct stock purchase system 302 includes a client application 402, which is a Web application; a Web server component 404 that manages connectivity with the client application; and a backend database 406 that maintains information.
- Client application 402 includes a user authentication component, such as digital certification, user names, passwords, and cookies, and SSL connectivity to Web server 404.
- SSL is a commonly used protocol for managing security of message transmission on the Internet and it is used to ensure that only authorized users access system 300.
- a direct stock purchase plan implemented by direct stock purchase system 302 enables investors to enroll in direct stock purchase plans, to link to pre-established direct stock purchase plan accounts, to perform initial/optional cash purchases of stock, to specify dividend reinvestment preferences (for partner companies paying dividends), to specify automatic monthly investment preferences, and to request a stock certificate, among others.
- the partner company includes a link to direct stock purchase system 302 on the company's web site.
- the company must meet certain system requirements. For example, the company must be a U.S. co ⁇ oration or a qualified foreign co ⁇ oration, be subject to SEC reporting requirements, provide an audited financial statement, and have a certain amount of market capitalization.
- Fig. 5 illustrates a company web page with a link 502 to direct stock purchase system 302.
- the investor visits the company's web site and decides to purchase the company's stock, the investor clicks on link 502 to direct stock purchase system 302.
- the investor may directly visit direct stock purchase system's web site.
- the investor registers to purchase the company's stock by providing personal information, such as name, address, checking account and routing numbers.
- Direct stock purchase system 302 uses the investor's personal and billing data to verify the investor's identity and to enroll the invest in the direct stock purchase plan.
- system 302 includes an authentication process that authenticates the investor by linking the on-line investor to a physical address.
- Fig. 6 illustrates components of the authentication process for performing checks on information supplied by the investor, whereby each component performs a specific task.
- a normalization component 602 is used to ensure that the investor has filled out required information fields and that the information in the required information fields is in the proper format.
- a reflexive check component 604 uses predefined rules to validate structures of particular data elements in order to determine whether those data elements have been entered in the correct sequence.
- An internal check component 606 uses information that was previously entered by other investors to determine whether an attempt is being made to impersonate another investor.
- a cross-reference check component 608 uses external data sources to determine whether multiple data elements are valid when considered together.
- a physical location check 610 component binds and verifies information given by the investor to a physical location.
- Fig. 7 illustrates the information that the investor is required to enter in the system to purchase equity on-line.
- the investor is required to enter a name, address, telephone number, e-mail address, credit card information, banking information and social security number.
- the investor may be required to enter other information to purchase equity on- line.
- system 300 checks that the social security number and financial account, such as a bank account, were not previously submitted by another investor and requests a certificate for the new investor. Upon receiving the certificate, the information is stored and the authentication process is called to authenticate the investor and to bind the investor to a physical location.
- the authentication process queries a database for fields used by its components to perform a series of checks and either accepts or rejects the registration application. If the investor's information is correct, the investor is informed of a successful registration and the investor's account is placed in a pending status. If the registration application is rejected, the investor is instructed how to proceed via a system 300-generated e-mail message.
- the investor's personal information is saved in direct stock purchase system 302.
- a digital identifier is issued for the investor to create a digital signature, a challenge phrase and a password for enabling only the authorized investor to access the account.
- a registration e-mail is also sent to the investor.
- the registration e- mail instructs the investor to dial a predetermined number from a specific, land-based phone and to enter an activation code contained in the registration e-mail. After the 1 1
- the authentication process checks that the investor is calling from the appropriate phone and binds the investor to that physical location. Thereafter, an account is activated for the investor. If the investor does not call the predetermined number from the specified, land-based phone within a predefined amount of time, the registration is cancelled. During registration the investor must indicate whether to enroll in a single or joint account, or to link to an existing account. In a preferred embodiment, only one investor is associated with each account. However, joint accounts will be used for legal pu ⁇ oses. Thus, a single investor may have multiple accounts, for example, a single account, a joint account and a custodial account. The investor can also consent to have direct stock purchase system 302 e-mail company information or information required or permitted to be delivered by any Regulatory Body .
- the investor then proceeds with enrollment in the company's direct stock purchase plan and enters the amount to be invested in the company.
- the investor can submit orders to buy or sell stocks, and/or set up or change regular investment instructions for a company's direct stock purchase plan. If the investor is buying a stock, the investor indicates the dollar amount to buy and submits the order to direct stock purchase system 302. If the investor is selling a stock, the investor indicates the number of shares to be sold and submits the order to direct stock purchase system 302. Before the order is processed by transfer agent 304, the investor is presented a preview of the order instructions and a chance to change the order. When the investor confirms the order, a confirmatory e-mail is sent to the investor. The confirmatory e-mail summarizes the order data and includes instructions on where to go for help or a status 1.5
- a transaction e- mail is sent to the investor.
- the transaction e-mail indicates that the order has been filled and that the investor's new account number is stored in system 300.
- the investor may log into the account.
- the investor may choose to establish a new account.
- system 300 retrieves the investor's account and enables the investor to access that account.
- the investor After an account is established for the investor, the investor is shown a list of other partner companies that offer stock purchases through system 300. The investor may then invest in the stock of one or more of those other companies and choose the appropriate options, such as dividend reinvestment, for that investment. To change or set up a regular investment schedule, the investor may select the time intervals (determined and presented by the direct stock purchase plan), the amount and the start date when the regular investments will occur.
- direct stock purchase system 302 and the investor's system exchange digital identifiers or cookies via a secure channel. During the exchange of the digital identifiers, portions of direct stock purchase system 302 will be stored on the investor's machine. Direct stock purchase system 302 verifies the Hi
- direct stock purchase system 302 digital identifier and validates that the investor is in good standing. All data received and sent by direct stock purchase system 302 must be digitally signed and/or encrypted. Moreover, the communication channel between the investor and direct stock purchase system 302 is secured against Internet based attacks. To protect the transport layer, the client and server in direct stock purchase system 302 leverages the transport level security provided by Internet browser application through SSL. Direct stock purchase system 302 uses the SSL layer to exchange digital identification information between the client application and the WEB server. Additionally, the application layer of each transmission is encrypted. Also transmission between direct stock purchase system 302 and transfer agent 304 is secured by various security means.
- Fig. 8 illustrates the steps implement by the inventive system.
- the investor logs on to system 300 and requests a registration form.
- the investor provides registration information to system 300.
- the investor chooses how much to invest and investment options presented by system 300.
- the registration entity in system 300 processes the registration information.
- the authentication process authenticates the investorand binds the investor to a physical location.
- the registration e-mail is sent to the investor, if the investor was authenticated by the authentication process.
- a confirmatory e-mail is sent to the investor.
- a transaction e-mail is sent to the investor after the transaction is executed.
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- Engineering & Computer Science (AREA)
- Business, Economics & Management (AREA)
- Strategic Management (AREA)
- Finance (AREA)
- Development Economics (AREA)
- Accounting & Taxation (AREA)
- Entrepreneurship & Innovation (AREA)
- Computer Hardware Design (AREA)
- Computer Networks & Wireless Communication (AREA)
- General Engineering & Computer Science (AREA)
- Computing Systems (AREA)
- Computer Security & Cryptography (AREA)
- Game Theory and Decision Science (AREA)
- Signal Processing (AREA)
- Economics (AREA)
- Marketing (AREA)
- Physics & Mathematics (AREA)
- General Business, Economics & Management (AREA)
- General Physics & Mathematics (AREA)
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- Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)
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Abstract
Priority Applications (1)
Application Number | Priority Date | Filing Date | Title |
---|---|---|---|
AU12255/01A AU1225501A (en) | 1999-10-22 | 2000-10-23 | A direct stock purchase system and method for implementing the same |
Applications Claiming Priority (2)
Application Number | Priority Date | Filing Date | Title |
---|---|---|---|
US16091499P | 1999-10-22 | 1999-10-22 | |
US60/160,914 | 1999-10-22 |
Publications (2)
Publication Number | Publication Date |
---|---|
WO2001031536A2 true WO2001031536A2 (fr) | 2001-05-03 |
WO2001031536A8 WO2001031536A8 (fr) | 2002-08-29 |
Family
ID=22579006
Family Applications (2)
Application Number | Title | Priority Date | Filing Date |
---|---|---|---|
PCT/US2000/029200 WO2001031536A2 (fr) | 1999-10-22 | 2000-10-23 | Procede et systeme d'achat d'actions direct, et procede de mise en oeuvre |
PCT/US2000/029199 WO2001031483A2 (fr) | 1999-10-22 | 2000-10-23 | Systeme et procede permettant de verifier des informations en ligne presentees par des utilisateurs de l'internet |
Family Applications After (1)
Application Number | Title | Priority Date | Filing Date |
---|---|---|---|
PCT/US2000/029199 WO2001031483A2 (fr) | 1999-10-22 | 2000-10-23 | Systeme et procede permettant de verifier des informations en ligne presentees par des utilisateurs de l'internet |
Country Status (2)
Country | Link |
---|---|
AU (2) | AU1225501A (fr) |
WO (2) | WO2001031536A2 (fr) |
Families Citing this family (9)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
US7089197B1 (en) | 2000-05-08 | 2006-08-08 | Mci, Llc | System and method for verification of customer information entered via an Internet based order entry system |
US20070073696A1 (en) * | 2005-09-28 | 2007-03-29 | Google, Inc. | Online data verification of listing data |
US8837465B2 (en) | 2008-04-02 | 2014-09-16 | Twilio, Inc. | System and method for processing telephony sessions |
WO2009124223A1 (fr) | 2008-04-02 | 2009-10-08 | Twilio Inc. | Système et procédé destinés au traitement de sessions de téléphonie |
US8533804B2 (en) | 2011-09-23 | 2013-09-10 | Loyal3 Holdings, Inc. | User login with redirect to home network |
US8468129B2 (en) | 2011-09-23 | 2013-06-18 | Loyal3 Holdings, Inc. | Asynchronous replication of databases of peer networks |
US8737962B2 (en) | 2012-07-24 | 2014-05-27 | Twilio, Inc. | Method and system for preventing illicit use of a telephony platform |
US9226217B2 (en) | 2014-04-17 | 2015-12-29 | Twilio, Inc. | System and method for enabling multi-modal communication |
US11386435B2 (en) | 2017-04-03 | 2022-07-12 | The Dun And Bradstreet Corporation | System and method for global third party intermediary identification system with anti-bribery and anti-corruption risk assessment |
Family Cites Families (3)
Publication number | Priority date | Publication date | Assignee | Title |
---|---|---|---|---|
US5790785A (en) * | 1995-12-11 | 1998-08-04 | Customer Communications Group, Inc. | World Wide Web registration information processing system |
US5684951A (en) * | 1996-03-20 | 1997-11-04 | Synopsys, Inc. | Method and system for user authorization over a multi-user computer system |
CA2356998C (fr) * | 1998-05-21 | 2002-04-16 | Equifax Inc. | Systeme et procede d'authentification d'utilisateurs de reseau |
-
2000
- 2000-10-23 WO PCT/US2000/029200 patent/WO2001031536A2/fr active Application Filing
- 2000-10-23 AU AU12255/01A patent/AU1225501A/en not_active Abandoned
- 2000-10-23 AU AU12254/01A patent/AU1225401A/en not_active Abandoned
- 2000-10-23 WO PCT/US2000/029199 patent/WO2001031483A2/fr active Application Filing
Non-Patent Citations (1)
Title |
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No Search * |
Also Published As
Publication number | Publication date |
---|---|
WO2001031483A2 (fr) | 2001-05-03 |
AU1225501A (en) | 2001-05-08 |
WO2001031483A3 (fr) | 2002-10-10 |
WO2001031536A8 (fr) | 2002-08-29 |
AU1225401A (en) | 2001-05-08 |
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