SYSTEM AND METHOD FOR FLUID FINANCIAL MARKETS
A system and method that provide for fluid financial markets are disclosed. One system includes an issuing module that issues a credit account to a consumer based on a rating and tied to a credit bank. The system also includes an update module that updates the rating over time based on financial factors related to the consumer. The system includes a financial module that allows the credit bank to change over time based on the rating.
1 . A system that provides for fluid financial markets, the system comprising:
an issuing module that issues a credit account to a consumer based on a rating and tied to a credit bank;
an update module that updates the rating over time based on financial factors related to the consumer; and
a financial module that allows the credit bank to change over time based on the rating.
2 . The system of claim 1 , wherein the issuing module grants to the credit bank a limited-time right to accounts receivable related to the credit account.
3 . The system of claim 1 , wherein the financial module allows the credit bank to change periodically.
4 . The system of claim 1 , wherein the financial module allows the credit bank a right of first refusal prior to changing to a second credit bank.
5 . The system of claim 1 , wherein the credit account is associated with a program offered by a central authority.
6 . The system of claim 1 , further comprising:
a categorization module that places a consumer application in a category based on the rating; and
a selection module that selects the credit bank based on the category.
7 . The system of claim 1 , wherein the credit bank issues the credit account to the consumer.
8 . A method that provides for fluid financial markets, the method comprising:
issuing a credit account to a consumer, based on a rating assigned and associated with a first financial entity holding the account receivable;
updating the rating over time based on financial factors related to the consumer;
communicating the updated rating to a plurality of financial entities;
receiving at least one offer to hold the account receivable based on the updated rating; and
selecting the offer and associating the credit account to a new financial entity based on the offer.
9 . The method of claim 8 , wherein issuing a credit account to a consumer comprises granting to the credit bank a limited-time right to accounts receivable related to the credit account.
10 . The method of claim 8 , wherein updating the rating over time comprises periodically updating the rating.
11 . The method of claim 8 , further comprising allowing the first financial entity a right of first refusal prior to selecting the offer and associating the credit account to a new financial entity.
12 . The method of claim 8 , wherein the credit account is associated with a program offered by a central authority.
13 . The method of claim 8 , wherein the credit bank issues the credit account to the consumer.
14 . The method of claim 8 , further comprising:
placing a consumer application in a category based on the rating; and
selecting the credit bank based on the category.
15 . The method of claim 8 , further comprising receiving a fee from the new financial entity.
16 . The method of claim 8 , further comprising transferring a fee from the new financial entity to the first financial entity.
17 . A method that provides for fluid financial markets, the method comprising:
soliciting bids for consumer terms relating to a credit account;
selecting a set of consumer terms from the bids;
soliciting bids for incentive terms relating to the credit account based on the set of consumer terms;
selecting a set of incentive terms relating to the credit account, the set of incentive terms relating to a credit bank; and
associating an account receivable for the credit account with the credit bank.
18 . The method of claim 17 , further comprising issuing a credit account to a consumer.
19 . The method of claim 17 , wherein the credit account corresponds to a program offered by a central authority.
20 . The method of claim 17 , wherein the credit account is a prospective credit account falling within a predefined category.
21 . The method of claim 17 , wherein updating the consumer terms and the incentive terms occurs periodically.
22 . The method of claim 17 , wherein the consumer terms include an interest rate and an annual fee.
23 . The method of claim 17 , wherein the incentive terms include at least one of a bounty or basis points.
24 . The method of claim 23 , further comprising paying at least a portion of the bounty to a previous credit bank.
25 . The method of claim 17 , further comprising updating the consumer terms and the incentive terms relating to the credit account.