Bumped’s latest patent adds to the existing portfolio of processes to reward users in fractional shares of stock — at scale
Bumped—the 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.
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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.”
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