Method and system for allocating deposits over a plurality of depository institutions

Abstract

A computer system, computer-implemented method, and program product for managing a plurality of client transaction accounts associated with a plurality of respective clients for a plurality of transactions, the system comprising: one or more configured to perform the steps: administering clients' deposits/transfers to and withdrawals/transfers from client transaction accounts; performing the following steps for each client transaction account, i, of a plurality of client transaction accounts: determining a client available deposit amount, D, comprising funds to be distributed over Nrespective banks in the program; determining, for D, a value of Nbanks for the respective client transaction account, wherein Nis a whole number and (X) times (N) is equal to or less than 100, where X is a distribution percent value to be distributed to each of the Nbanks; allocating, the percentage, X, multiplied by the respective client available deposit amount, D, calculating, for each bank of a plurality of the banks in the program, a respective net bank deposit amount for allocation; generating instructions to transfer funds to or from one or more of the aggregated deposit accounts in one or more of the respective banks in the program; and updating one or more of the electronic databases with update data for each of a plurality of the client transaction accounts.