U.S. Patent Office Grants Bumped Second Patent for Stock Rewards Technology
PORTLAND, Ore., Sept. 14, 2021 /PRNewswire/ -- Today Bumpedthe stock rewards platform on a mission to create an ownership economy through a simple but powerful entry point to investing announced the issuance of US Patent Office (USPTO) patent 11,113,709 which covers a key process in managing stock inventory while allocating fractional shares to end users.
The patent covers the ability to adjust, in real time, the number of shares purchased in order to distribute those shares into consumer's individual brokerage accounts. The ability to respond to multiple events both in real time and over time, allows Bumped to optimize the necessary stock inventory for distribution to consumer's brokerage accounts. The patented process allows Bumped to scale stock acquisitions while also reducing the potential financial risk of over-purchasing stock.
This patent adds to Bumped's existing issued patents, which also includes USPTO patent 9,842,344. The earlier patent covers the baseline concept of utilizing stock as a reward for a consumer's loyalty to a company. Bumped has filed a number of other patents as well, all centered around streamlining fractionalization of stock as a reward.
Bumped's growing patent portfolio is a testament to the methods and processes required to reward consumers utilizing stock, and the company's dedication to creating a safe, secure, and scalable platform.
Why stock rewards? According to a survey completed by Bumped, 88 percent of users would participate if given the chance to be rewarded in stock by their financial institution, and a further 66 percent would be more likely to be engaged with other banking products because of stock rewards.
"We are excited to put these innovative solutions in-market for brands and banks to build incredible new relationships with their consumers. Rewarding consumers in this way can fundamentally change markets and create broader inclusiveness" said David Nelsen, CEO and Founder of Bumped. "We believe that as the first company to provide fractional shares of stock as loyalty, this patent showcases the unique way Bumped enables brands and financial institutions in delivering stock rewards quickly and efficiently, and further validates our work creating an ownership economy."
Bumped is a tech company on a mission to create an ownership economy. Bumped's technology gives consumers the power to turn their everyday spending into free stock ownership, and its suite of tools helps businesses reward their customers in fractional shares of stock. Bumped believes that we all create the economy together, and we all should have the opportunity to benefit from it.
The Bumped app and website are operated by Bumped, Inc. Brokerage services are provided by Bumped Financial LLC, member FINRA /SIPC . More about Bumped Financial LLC on FINRA's FINRA BrokerCheck website.
Investing in securities involves risk, including possible loss of principal: Not FDIC Insured No Bank Guarantee May Lose Value. Past performance is not a guarantee of future results. Nothing on this site should be construed as an offer to purchase or sell securities.
Any market, economic and / or performance data shown is for hypothetical and illustrative purposes only. Data does not represent actual results. Participation is only for investors who understand and agree to the risks inherent in their Bumped Accounts. Only qualifying purchases made according to the terms and conditions are eligible for stock rewards. Bumped does not charge brokerage fees. Bumped reserves the right to restrict or revoke any and all offers at any time.
Investors receive shares of ETFs as rewards. Investors should consider their investment objectives, risks, carefully before investing. This and other information are found in the fund prospectus. Please read the prospectus carefully before you choose to invest.
Rewards are accrued for investment after qualifying purchases, but may be reversed if the qualifying transaction is later reversed. Bumped does not assume the risk of market movements for returned items or disqualified transactions.
Bumped Inc., its subsidiaries, agents, and employees expressly disclaim any responsibility for and do not maintain, control, recommend, or endorse third-party sites, organizations, products, or services, and make no representation as to the completeness, suitability, or quality thereof.
A few notes on fractional shares: they're typically not transferable between brokerage firms. If you want to transfer your Bumped account, you may have to sell your fractional shares first. Fractional shares can't be put into certificate form or physically mailed, nor do they have voting rights.
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SOURCE Bumped Inc