AU2013237639A1 - A Computer-Implemented Framework, and Methodologies Operable in Such a Framework - Google Patents

Abstract

A computer implemented method (200) for enabling a user to select an investment product, the method including: - operating an input collection module (111) configured to receive ROI data from a plurality of providers (102a to 102N); - processing the ROI data thereby to maintain a database (112) of ROI data, wherein the ROI database (112) includes data indicative of a plurality of ROI vehicles defined by the received ROI data, wherein each ROI vehicle includes: (iv) a provider identifier, (v) a timing parameter, and (vi) a return parameter; and - operating a product construction module (114) that is responsive to user input for defining one or more products, wherein each product is a modelled combination of two or more ROI vehicles, and wherein each product includes the following parameters: (iv) an entry capital amount, (v) a schedule of defined payments, and (vi) the two or more ROI vehicles. Fund manager ts Coordinates se.Wemnts with Prviders Product instuctions output bo A Provider 0a Exemplary computer Client Comput Systom A System Product construct on1 -14 Provider CentCom rComputer Cierent Rom hu Input collection module - e 114 Provider Computer Management System System N

Description

1 P/00/00 1 Regulation 3.2 AUSTRALIA Patents Act 1990 COMPLETE SPECIFICATION FOR A STANDARD PATENT (ORIGINAL) Name of Applicant: The Bond Market Pty Ltd Actual Inventor: Kim Bernard McDonald Address for Service: EKM patent & trademarks Level 1, 38-40 Garden Street South Yarra, Victoria, 3141 Australia Invention Title: A Computer-Implemented Framework, and Methodologies Operable in Such a Framework The following statement is a full description of this invention, including the best method of performing it known to us: 2 A COMPUTER-IMPLEMENTED FRAMEWORK, AND METHODOLOGIES OPERABLE IN SUCH A FRAMEWORK FIELD OF THE INVENTION The present invention relates to a computer-implemented framework for interfacing providers of investment products with investors, and methodologies operable in such a framework. Embodiments of the invention have been particularly developed for enabling the creation of customised investment products, primarily secured income products, using return on investment vehicles that optionally come from a variety of distinct providers. While some embodiments will be described herein with particular reference to that application, it will be appreciated that the invention is not limited to such a field of use, and is applicable in broader contexts. BACKGROUND Any discussion of the background art throughout the specification should in no way be considered as an admission that such art is widely known or forms part of common general knowledge in the field. There is a variety of investment products widely used in the context of retirement planning. For example, annuities are commonly used as a relatively low-risk means for obtaining a regular income over an extended period. A general principle in various instances is that an investor provides a sum of upfront capital in exchange for a series of payments made over a defined schedule. The sum of the payments typically exceeds the value of the upfront capital. Not all annuity products are the same. There are a range of variables, such as quantifiable variables (such as payment amounts and schedules) and unquantifiable variables (such as risk). Accordingly, investors are faced with substantial challenges in determining an investment product that best suits their needs. Thus, it is an object of the present invention to overcome or ameliorate at least one of the disadvantages of the prior art, or to provide a useful alternative. SUMMARY OF THE INVENTION One embodiment provides a computer implemented method for enabling a user to select an investment product, the method including: 3 - operating an input collection module configured to receive ROI data from a plurality of providers; - processing the ROI data thereby to maintain a database of ROI data, wherein the ROI database includes data indicative of a plurality of ROI vehicles defined by the received ROI data, wherein each ROI vehicle includes: - a provider identifier, - a timing parameter, and - a return parameter; and - operating a product construction module that is responsive to user input for defining one or more products, wherein each product is a modelled combination of two or more ROI vehicles, and wherein each product includes the following parameters: - an entry capital amount; - a schedule of defined payments; - the two or more ROI vehicles. One embodiment provides a computer program product for performing a method as described herein. One embodiment provides a non-transitive carrier medium for carrying computer executable code that, when executed on a processor, causes the processor to perform a method as described herein. One embodiment provides a system configured for performing a method as described herein. Reference throughout this specification to "one embodiment", "some embodiments" or "an embodiment" means that a particular feature, structure or characteristic described in connection with the embodiment is included in at least one embodiment of the present invention. Thus, appearances of the phrases "in one embodiment", "in some embodiments" or "in an embodiment" in various places throughout this specification are not necessarily all referring to the same embodiment, but may. Furthermore, the particular features, structures or characteristics may be combined in any suitable manner, as would be apparent to one of ordinary skill in the art from this disclosure, in one or more embodiments.

4 As used herein, unless otherwise specified the use of the ordinal adjectives "first", "second", "third", etc., to describe a common object, merely indicate that different instances of like objects are being referred to, and are not intended to imply that the objects so described must be in a given sequence, either temporally, spatially, in ranking, or in any other manner. In the claims below and the description herein, any one of the terms comprising, comprised of or which comprises is an open term that means including at least the elements/features that follow, but not excluding others. Thus, the term comprising, when used in the claims, should not be interpreted as being limitative to the means or elements or steps listed thereafter. For example, the scope of the expression a device comprising A and B should not be limited to devices consisting only of elements A and B. Any one of the terms including or which includes or that includes as used herein is also an open term that also means including at least the elements/features that follow the term, but not excluding others. Thus, including is synonymous with and means comprising. As used herein, the term "exemplary" is used in the sense of providing examples, as opposed to indicating quality. That is, an "exemplary embodiment" is an embodiment provided as an example, as opposed to necessarily being an embodiment of exemplary quality. BRIEF DESCRIPTION OF THE DRAWINGS Embodiments of the invention will now be described, by way of example only, with reference to the accompanying drawings in which: FIG. 1 schematically illustrates a framework according to one embodiment; FIG. 2 illustrates a method according to one embodiment; and FIG. 3 illustrates a client-server arrangement leveraged by various embodiments. DETAILED DESCRIPTION Described herein is a computer-implemented framework for interfacing providers of investment products with investors, and methodologies operable in such a framework. Embodiments of the invention have been particularly developed for enabling the 5 creation of customised investment products, primarily secured income products, using return on investment vehicles that optionally come from a variety of distinct providers. While some embodiments will be described herein with particular reference to that application, it will be appreciated that the invention is not limited to such a field of use, and is applicable in broader contexts. In overview, embodiments described herein relate to frameworks that enable a plurality of providers (such as banks, issuers of securities, and the like) to upload data indicative of products they provide. Particular focus is given to an embodiment whereby providers upload data indicative of zero-coupon deposits that are to be offered during a given time frame. The framework allows for an investment product, referred to as a "secured income product" to be defined by combining two or more of the zero coupon deposit products. Exemplary Framework FIG. 1 illustrates a framework 100 according to one embodiment. Framework 100 includes a management system 101, which is defined by one or more computer systems. For example, in one embodiment system 101 is defined by a computer server configured to communicate with a plurality of remote terminals (for example via the Internet). The server includes one or more microprocessors configured to execute computer-executable code (software instructions), thereby to enable system 101 to perform methods and provide functionalities described below. System 101 is defined by reference to a set of modules, which represent functionally identifiable software components. System 101 includes an input collection module 111. The input collection module is a software-based module that is configured to receive Return on Investment (ROI) data from a plurality of providers 102a to 102N. The term "ROI data" describes data, having predefined attributes, which defines return on investment characteristics. The predefined attributes are defined by an administrator of system 101, and enable a plurality of investment products to be compared in a "like-to-like" manner and/or combined. The manner by which ROI data is received varies between embodiments, and may include any one or more of the following: e Electronic communication of data files.

6 * Uploading of information via a web interface. * Manual input of data. Each provider 102a to 102N preferably operates a computer system having a respective ROI input generation module 103a to 103N thereby to facilitate the generation and delivery of investment data to system 101. In broad terms, an administrator of system 101 sets rules to govern the nature of ROI data that is to be provided (for example in terms of data format and required attributes). For example, there may be one or more categories of investment products, and for each category of investment product rules governing the information required for each such product. Embodiments described herein are primarily focused on a category of investment product known as "zero coupon deposits". This is an investment product whereby an amount of capital is exchanged for a defined return on a given date of maturity (for example a sum of $75,000 is exchanged for a payment of $84,000 after 12 years). Other categories of investment for which system 101 may be configured to handle include fixed interest deposits, bonds, hybrid securities or other investment products. Input collection module 111 is configured to process received ROI data thereby to maintain a database 112 of ROI data. That is, received ROI data is processed thereby to update fields in database 112. In this manner, database 112 is configured to maintain data indicative of a plurality of "ROI vehicles" defined from the ROI data. In one embodiment, each ROI vehicle is indicative of the following attributes: * A provider identifier, identifying which of the providers offers the investment vehicle. * A timing parameter, defining timing of an investment (for example a period of time for which capital is held, or a time at which a return is provided). * A return parameter, defining a return (for example as a percentage return on investment or the like). * A date range for which the product is available. In some embodiments rules are defined, for example requiring that ROI data for an upcoming period being received by a deadline immediately preceding that period. For example, in one 7 case ROI data for a week commencing at 12AM on a Monday must be received by 11:59PM on the preceding Sunday night. Preferably, detailed conditions regarding investments are isolated from ROI data, and instead defined by rules set by an administrator of system 101. That is, when uploading ROI data indicative of an ROI vehicle, that data is uploaded with verification that the vehicle meets predefined requirements and/or eligibility criteria that are constant across all products (of that category) and providers. It will be appreciated that the disclosure above enables a plurality of providers 102a to 102N to respectively upload their own one or more ROI vehicles to system 101, where they are maintained in database 112 based on defined data standards. As described below, this allows for a user to construct a custom investment product using a plurality of the ROI investment vehicles. System 101 includes a user interface module 113 for enabling users to interact with system 101. For the present purposes, the term "user" refers to the user of a remote client terminal, such as client terminal 105a to client terminal 105b. In the illustrated embodiment, client terminal 105a executes a web browser application 106 which interacts with module 113. For example, a web server/web browser arrangement enables a user of client terminal 105a to load a user interface via browser 106 based on web page code maintained at a web server remote of client terminal 105a. Client terminal 105b, on the other hand, executes a proprietary software application as an alternative to a web browser. For example, where client terminal 105b is a mobile device, this may be a mobile "app" (such as an iOS or Android software application). User interface module 113 provides users with access to functionality of a product construction module 114. Product construction module 114 operates in conjunction with a data access module 115, which provides functionality to obtain data from database 112, thereby to enable a user to combine two or more of the ROI vehicles thereby to define a custom product. Product construction module 114 is responsive to user input for defining one or more products, each product being a modelled combination of two or more ROI vehicles. In the embodiments discussed herein, particular focus is given to a category of products referred to as "secured income products". These are investment products wherein a sum of upfront capital is exchanged for a series of periodic payments (for example as in 8 the case with various annuity products). Each product includes the following parameters: (i) An entry capital amount. This defines an upfront sum of money that is to be provided by the user (or by an investor represented by the user). (ii) A schedule of defined payments. This preferably includes both payments and associated time frames. For example, the schedule may provide data indicative of payments and dates at which those payments are to be made. (iii) The two or more ROI vehicles which are combined to produce the product (knowing that these products may be from a common provider, or from different providers). Additional detail regarding the manner by which products are defined is provided further below. Once a product has been defined, a product instructions output module is configured to provide an output indicative of products that are to be purchased, and the values of each product, thereby to define the investment product at a practical level. For example, the output file provides instructions to purchase $A of ROI vehicle X, $B of ROI vehicle Y, and $C of ROI vehicle Z. In the illustrated embodiment, the output is communicated to a financial planner (for example by email or other electronic communications means), and the financial planner subsequently obtains the relevant ROI vehicles and manages the investment of behalf of an investor client for whom the product is intended. In other embodiments the output is delivered to the user (who may self-manage a superannuation fund that is to be used as a source of capital for procuring a secured income product or the like). In some implementations, a financial planner plays a role in providing advice to a client (for example in terms of product suitability and the like), and receives an 'Authority to Proceed' with a given investment plan (which may be provided to a Super Fund or the like which holds funds on behalf of a client). ROI Data Timing Factors As foreshadowed above, ROI data is inputted based on a predefined set of rules, thereby to best ensure that like can be compared with like (for example in terms of fixed 9 coupon deposits). These rules also ensure that, once a custom product is selected, it is able to be put into effect by obtaining the relevant ROI vehicles. So as to ensure that the relevant vehicles are available, the rules define timing requirements. For example, in some embodiments there is a requirement that each provider upload their ROI data for a defined upcoming period by a set deadline. In one case ROI data for a week commencing at 12AM on a Monday must be received by 11:59PM on the preceding Sunday night. In other cases alternate period/times are used (for example daily rates and the like). Utilisation period that is consistent across all ROI products (and providers) facilitates convenient defining of a "deadline" for a custom product. For example, in the example where ROI data is defined for a period commencing 12AM on a Monday and ending at 11:59PM on the following Sunday night, the deadline for all products (i.e. the time by which investments must be physically made with the relevant providers) is easily identified (11:59PM on each Sunday night). Preferably, the database maintains data indicative of current ROI data and past ROI data, thereby to enable comparison and analysis of variations over time. Furthermore, in some embodiments providers are enabled to upload future ROI data for a later period. Product Construction Module Various examples of the manner by which product construction module 114 is operable in embodiments are discussed below. In broad terms, in embodiments where ROI vehicles are indicative of fixed coupon deposits, custom products are defined by combining a plurality of fixed coupon deposits. For example, a fixed coupon deposit that provides a one-off return of $X after A years, is combined with a fixed coupon deposit that provides a one-off return of $Y after B years, optionally thereby to provide an income using the $X for a period commencing after A years and an income using the $Y for a period commencing after B years. In some embodiments, the product construction module is configured to operate by receiving a user-defined commencement parameter, and suggest products based on that parameter. For example: e The commencement parameter may be an entry capital amount value (i.e. the amount of funds the investor will provide upfront). The product construction 10 module then suggests a set of products that make use of that entry capital amount. * The commencement parameter may be a periodic payment amount. The product construction module then suggests a set of products that provide such a payment amount (based on differing entry capital amounts, and different payment timeframes). * The commencement parameter may be a payment timeframe (i.e. a period of time over which an income is required). The product construction module then suggests a set of products that provide an income over that timeframe (based on differing entry capital amounts, and different payment amounts). In some cases multiple parameters are entered (for example an entry capital amount, periodic payment amount, and/or payment timeframe). It will be appreciated that as additional parameters are provided, module 114 is able to generate more specifically customised products. In some cases more detailed parameters are able to be entered, for example parameters that define income amounts for different timeframes (for example a higher income for a first period, and then a lower income for a subsequent period). In some cases graphical sliders are used to enable graphical modification of parameters. Module 114 in some embodiments allows for filtering, for example thereby to include/exclude certain ROI vehicles based on characteristics of those vehicles. The characteristics may include the names of providers (e.g. use only specified providers), characteristics of providers (e.g. use only providers that are banking institutions of a certain type e.g. 'major banks'), or risk quantifiers (for example where each provider or ROI vehicle is assigned a risk quantifier representative of a perceived risk of investing via that provider/vehicle e.g. credit ratings of the providers). For example, the product construction module is configured to accept user input indicative of one or more characteristics of ROI vehicles, and products defined then include (or, where relevant, exclude) ROI vehicles having those characteristics. Product Construction Example So as to provide an example of how a product may be constructed, assume a user wishes to determine what annual level payment for each of years 1 to 10 can be 11 obtained for an investment of $100,000 (case A). Alternatively, the user may wish to determine the required investment amount to produce a level annual payment of $10,000 commencing in year 1 and finishing in year 8 (case B). Other cases may include a user seeking an annually escalating payment, where such escalation may be at a fixed or index linked rate (eg. inflation represented by the 'Consumer Price Index' in the latter case). The general solution to the user question is given by the financial equations for the present value of a payment. For a stream of payments, this can be generalised to: Present value (investment amount) = a 1

.D

1 + a 2

.D

2 + + an.Dn Where: at = target payment in year t D= discount factor for period t Product providers input interest rates for annually compounding fixed interest deposits. These rates are turned into discount factors using customary financial calculations, for instance of the following form: Dt = 1 / (1 + rt)t This is applied such that an amount invested 'A' (the investment amount) at inception earning an interest rate rt, (e.g. 5% p.a.), and where such interest is compounded annually (i.e. added to the investment amount that earns interest), grows to a determinable amount at. Consequently A = at.Dt. The system generates Dt for each product provider (x) based on the inputs provided, resulting in an array of discount factors Dig. Given a higher interest rate corresponds to a smaller discount factor for each maturity (t), the system selects by default the lowest Dt for each t, without regard to the identity of the provider. If the user de-selects specific providers, the system selects the minim Dt for all values of x not excluded by the user. Based on the resulting array of discount factors, if the user elects to proceed, the system will output a schedule of deposits, in each case indicating the deposit amount, product provider, interest rate and maturity date. In line with the method described this 12 may result in a mixture of product, which product may be formulated using inputs of multiple providers. For example this might be used to produce a level annual payment of $7,000 on each of years 1-5, and assuming providers 1,2 and 3 have not been excluded by the user, then assuming the rates indicated below are the best rates (producing the lowest discount factor for each maturity), the resulting schedule of individual deposit transactions will have the general form suggested by the following table: Term Provider Deposit Amount Rate Face Value 1 1 $ 6,679 4.80% $ 7,000 2 2 $ 6,355 4.95% $ 7,000 3 3 $ 6,030 5.10% $ 7,000 4 1 $ 5,704 5.25% $ 7,000 5 2 $ 5,381 5.40% $ 7,000 $ 30,150 It will be appreciated that the above example is provided for the sake of convenient explanation only, and should not be regarded as limiting. Exemplary Method FIG. 2 illustrates an exemplary method 200 according to one embodiment, optionally being performed by system 101 (for example by execution of computer executable code available to system 101). Functional block 201 represents a process including receiving, from a plurality of providers for an upcoming period. For example, this may include receiving data indicative of zero coupon deposits made that are to be made available by each provider during the period. For example, the data may include, for each zero coupon deposit, a return on investment quantifier and a maturity date. Functional block 202 represents a process including updating a database with ROI vehicle data based on the received data. The period in question commences at 203. Following this, functional block 204 represents a process including configuring a product construction module to access ROI vehicle data for the just-commenced period. This enables, as represented by functional block 205, users of client terminals to interact with the product construction module thereby to define products using ROI vehicles for the current period.

13 Functional block 206 represents a process including outputting implementation instructions for defined products. For example, these may take the form of instructions used by a financial planner to acquire relevant values of the appropriate ROI vehicles from the providers in question thereby to practically implement the defined product. As indicated by block 207 (which is shown in dashed line to indicate that it is a separate manual process distinct from the method performed in a computer system), the investments must be made by the completion of the current period (at which point the ROI vehicles are no longer necessarily available). Exemplary Client-Server Arrangement In some embodiments, methods and functionalities considered herein are implemented by way of a client-server arrangement, as illustrated in FIG. 3. In overview, a web server 302 provides a web interface 303. This web interface is accessed by the parties by way of client terminals 304. In overview, users access interface 303 over the Internet by way of client terminals 304, which in various embodiments include the likes of personal computers, PDAs, cellular telephones, gaming consoles, and other Internet enabled devices. Server 303 includes a processor 305 coupled to a memory module 306 and a communications interface 307, such as an Internet connection, modem, Ethernet port, wireless network card, serial port, or the like. In other embodiments distributed resources are used. For example, in one embodiment server 302 includes a plurality of distribute servers having respective storage, processing and communications resources. Memory module 306 includes software instructions 308, which are executable on processor 305. Server 302 is coupled to a database 310. In further embodiments the database leverages memory module 306. In some embodiments web interface 303 includes a website. The term "website" should be read broadly to cover substantially any source of information accessible over the Internet or another communications network (such as WAN, LAN or WLAN) via a browser application running on a client terminal. In some embodiments, a website is a source of information made available by a server and accessible over the Internet by a web-browser application running on a client terminal. The web-browser application downloads code, such as HTML code, from the server. This code is executable 14 through the web-browser on the client terminal for providing a graphical and often interactive representation of the website on the client terminal. By way of the web browser application, a user of the client terminal is able to navigate between and throughout various web pages provided by the website, and access various functionalities that are provided. Although some embodiments make use of a website/browser-based implementation, in other embodiments proprietary software methods are implemented as an alternative. For example, in such embodiments client terminals 304 maintain software instructions for a computer program product that essentially provides access to a portal via which framework 100 is accessed (for instance via an iPhone app or the like). In general terms, each terminal 304 includes a processor 311 coupled to a memory module 313 and a communications interface 312, such as an internet connection, modem, Ethernet port, serial port, or the like. Memory module 313 includes software instructions 314, which are executable on processor 311. These software instructions allow terminal 304 to execute a software application, such as a proprietary application or web browser application and thereby render on-screen a user interface and allow communication with server 302. This user interface allows for the creation, viewing and administration of profiles, access to the internal communications interface, and various other functionalities. Conclusions and Interpretation It will be appreciated that the disclosure above provides various significant systems and methods for data processing, for example in the context of a computer-implemented framework for interfacing providers of investment products with investors, and methodologies operable in such a framework. Unless specifically stated otherwise, as apparent from the following discussions, it is appreciated that throughout the specification discussions utilizing terms such as "processing," "computing," "calculating," "determining", analyzing" or the like, refer to the action and/or processes of a computer or computing system, or similar electronic computing device, that manipulate and/or transform data represented as physical, such as electronic, quantities into other data similarly represented as physical quantities.

15 In a similar manner, the term "processor" may refer to any device or portion of a device that processes electronic data, e.g., from registers and/or memory to transform that electronic data into other electronic data that, e.g., may be stored in registers and/or memory. A "computer" or a "computing machine" or a "computing platform" may include one or more processors. The methodologies described herein are, in one embodiment, performable by one or more processors that accept computer-readable (also called machine-readable) code containing a set of instructions that when executed by one or more of the processors carry out at least one of the methods described herein. Any processor capable of executing a set of instructions (sequential or otherwise) that specify actions to be taken are included. Thus, one example is a typical processing system that includes one or more processors. Each processor may include one or more of a CPU, a graphics processing unit, and a programmable DSP unit. The processing system further may include a memory subsystem including main RAM and/or a static RAM, and/or ROM. A bus subsystem may be included for communicating between the components. The processing system further may be a distributed processing system with processors coupled by a network. If the processing system requires a display, such a display may be included, e.g., a liquid crystal display (LCD) or a cathode ray tube (CRT) display. If manual data entry is required, the processing system also includes an input device such as one or more of an alphanumeric input unit such as a keyboard, a pointing control device such as a mouse, and so forth. The term memory unit as used herein, if clear from the context and unless explicitly stated otherwise, also encompasses a storage system such as a disk drive unit. The processing system in some configurations may include a sound output device, and a network interface device. The memory subsystem thus includes a computer-readable carrier medium that carries computer-readable code (e.g., software) including a set of instructions to cause performing, when executed by one or more processors, one of more of the methods described herein. Note that when the method includes several elements, e.g., several steps, no ordering of such elements is implied, unless specifically stated. The software may reside in the hard disk, or may also reside, completely or at least partially, within the RAM and/or within the processor during execution thereof by the computer system. Thus, the memory and the processor also constitute computer-readable carrier medium carrying computer-readable code.

16 Furthermore, a computer-readable carrier medium may form, or be included in a computer program product. In alternative embodiments, the one or more processors operate as a standalone device or may be connected, e.g., networked to other processor(s), in a networked deployment, the one or more processors may operate in the capacity of a server or a user machine in server-user network environment, or as a peer machine in a peer-to peer or distributed network environment. The one or more processors may form a personal computer (PC), a tablet PC, a set-top box (STB), a Personal Digital Assistant (PDA), a cellular telephone, a web appliance, a network router, switch or bridge, or any machine capable of executing a set of instructions (sequential or otherwise) that specify actions to be taken by that machine. Note that while diagrams only show a single processor and a single memory that carries the computer-readable code, those in the art will understand that many of the components described above are included, but not explicitly shown or described in order not to obscure the inventive aspect. For example, while only a single machine is illustrated, the term "machine" shall also be taken to include any collection of machines that individually or jointly execute a set (or multiple sets) of instructions to perform any one or more of the methodologies discussed herein. Thus, one embodiment of each of the methods described herein is in the form of a computer-readable carrier medium carrying a set of instructions, e.g., a computer program that is for execution on one or more processors, e.g., one or more processors that are part of web server arrangement. Thus, as will be appreciated by those skilled in the art, embodiments of the present invention may be embodied as a method, an apparatus such as a special purpose apparatus, an apparatus such as a data processing system, or a computer-readable carrier medium, e.g., a computer program product. The computer-readable carrier medium carries computer readable code including a set of instructions that when executed on one or more processors cause the processor or processors to implement a method. Accordingly, aspects of the present invention may take the form of a method, an entirely hardware embodiment, an entirely software embodiment or an embodiment combining software and hardware aspects. Furthermore, the present invention may take the form of carrier medium (e.g., a computer program product on a computer-readable storage medium) carrying computer-readable program code embodied in the medium.

17 The software may further be transmitted or received over a network via a network interface device. While the carrier medium is shown in an exemplary embodiment to be a single medium, the term "carrier medium" should be taken to include a single medium or multiple media (e.g., a centralized or distributed database, and/or associated caches and servers) that store the one or more sets of instructions. The term "carrier medium" shall also be taken to include any medium that is capable of storing, encoding or carrying a set of instructions for execution by one or more of the processors and that cause the one or more processors to perform any one or more of the methodologies of the present invention. A carrier medium may take many forms, including but not limited to, non-volatile media, volatile media, and transmission media. Non-volatile media includes, for example, optical, magnetic disks, and magneto-optical disks. Volatile media includes dynamic memory, such as main memory. Transmission media includes coaxial cables, copper wire and fiber optics, including the wires that comprise a bus subsystem. Transmission media also may also take the form of acoustic or light waves, such as those generated during radio wave and infrared data communications. For example, the term "carrier medium" shall accordingly be taken to included, but not be limited to, solid-state memories, a computer product embodied in optical and magnetic media; a medium bearing a propagated signal detectable by at least one processor of one or more processors and representing a set of instructions that, when executed, implement a method; and a transmission medium in a network bearing a propagated signal detectable by at least one processor of the one or more processors and representing the set of instructions. It will be understood that the steps of methods discussed are performed in one embodiment by an appropriate processor (or processors) of a processing (i.e., computer) system executing instructions (computer-readable code) stored in storage. It will also be understood that the invention is not limited to any particular implementation or programming technique and that the invention may be implemented using any appropriate techniques for implementing the functionality described herein. The invention is not limited to any particular programming language or operating system. It should be appreciated that in the above description of exemplary embodiments of the invention, various features of the invention are sometimes grouped together in a single embodiment, FIG., or description thereof for the purpose of streamlining the disclosure and aiding in the understanding of one or more of the various inventive 18 aspects. This method of disclosure, however, is not to be interpreted as reflecting an intention that the claimed invention requires more features than are expressly recited in each claim. Rather, as the following claims reflect, inventive aspects lie in less than all features of a single foregoing disclosed embodiment. Thus, the claims following the Detailed Description are hereby expressly incorporated into this Detailed Description, with each claim standing on its own as a separate embodiment of this invention. Furthermore, while some embodiments described herein include some but not other features included in other embodiments, combinations of features of different embodiments are meant to be within the scope of the invention, and form different embodiments, as would be understood by those skilled in the art. For example, in the following claims, any of the claimed embodiments can be used in any combination. Furthermore, some of the embodiments are described herein as a method or combination of elements of a method that can be implemented by a processor of a computer system or by other means of carrying out the function. Thus, a processor with the necessary instructions for carrying out such a method or element of a method forms a means for carrying out the method or element of a method. Furthermore, an element described herein of an apparatus embodiment is an example of a means for carrying out the function performed by the element for the purpose of carrying out the invention. In the description provided herein, numerous specific details are set forth. However, it is understood that embodiments of the invention may be practiced without these specific details. In other instances, well-known methods, structures and techniques have not been shown in detail in order not to obscure an understanding of this description. Similarly, it is to be noticed that the term coupled, when used in the claims, should not be interpreted as being limited to direct connections only. The terms "coupled" and "connected," along with their derivatives, may be used. It should be understood that these terms are not intended as synonyms for each other. Thus, the scope of the expression a device A coupled to a device B should not be limited to devices or systems wherein an output of device A is directly connected to an input of device B. It means that there exists a path between an output of A and an input of B which may be a path including other devices or means. "Coupled" may mean that two or more elements are either in direct physical or electrical contact, or that two or more elements 19 are not in direct contact with each other but yet still co-operate or interact with each other. Thus, while there has been described what are believed to be the preferred embodiments of the invention, those skilled in the art will recognize that other and further modifications may be made thereto without departing from the spirit of the invention, and it is intended to claim all such changes and modifications as falling within the scope of the invention. For example, any formulas given above are merely representative of procedures that may be used. Functionality may be added or deleted from the block diagrams and operations may be interchanged among functional blocks. Steps may be added or deleted to methods described within the scope of the present invention.

Claims (15)

1. A computer implemented method for enabling a user to select an investment product, the method including: - operating an input collection module configured to receive ROI data from a plurality of providers; - processing the ROI data thereby to maintain a database of ROI data, wherein the ROI database includes data indicative of a plurality of ROI vehicles defined by the received ROI data, wherein each ROI vehicle includes: (i) a provider identifier, (ii) a timing parameter, and (iii) a return parameter; and - operating a product construction module that is responsive to user input for defining one or more products, wherein each product is a modelled combination of two or more ROI vehicles, and wherein each product includes the following parameters: (i) an entry capital amount, (ii) a schedule of defined payments, and (iii) the two or more ROI vehicles.

2. The computer implemented method according to claim 1 wherein the product construction module is configured to receive user input indicative of an entry capital amount value, and in response define one or more products for which the entry capital amount is defined by the user-inputted entry capital amount value.

3. The computer implemented method according to claim 1 or claim 2 wherein the product construction module is configured to receive user input indicative of one or more characteristics of a secured income product, and in response define one or more products having those characteristics.

4. The computer implemented method according to any one of the preceding claims wherein, for a given defined product, a user is enabled to modify one or more 21 characteristics of that product and, in response, the product construction module defines at least one further product having the modified characteristics.

5. The computer implemented method according to claim 4 wherein the at least one further product is a modelled combination of two or more products, being a different two or more products to those comprising the given defined product.

6. The computer implemented method according to claim 4 or claim 5 wherein the at least one further product requires a different entry capital amount to the given defined product.

7. The computer implemented method according to any one of the preceding claims wherein the product construction module is configured to accept user input indicative of one or more characteristics of ROI vehicles, and wherein the defined products include only ROI vehicles having those characteristics.

8. The computer implemented method according to claim 7 wherein the characteristics include any one or more of the following: - an issuing provider; - one or more issuing provider attributes; - a risk quantifier; and - a vehicle type.

9. The computer implemented method according to any one of the preceding claims wherein the ROI vehicles include ROI vehicles indicative of zero coupon deposits.

10. The computer implemented method according to claim 9 wherein the product construction module defines a secured income product by combining two or more zero coupon deposits.

11. The computer implemented method according to any one of the preceding claims wherein the input collection module receives the ROI data based on a set of ROI data rules.

12. The computer implemented method according to claim 11 wherein the ROI data rules include a rule specifying a time period for which a provider must offer a ROI vehicle based on the ROI data. 22

13. A computer system configured to perform a method according to any one of claims 1 to 12.

14. A computer program configured to perform a method according to any one of claims 1 to 12.

15. A non-transitive carrier medium carrying computer executable code that, when executed on a processor, causes the processor to perform a method according to any one of claims 1 to 12.