PORTLAND, Ore., September 14, 2021 / PRNewswire / – Today Jostled—The equity rewards platform with a mission to create a proprietary economy with a simple yet powerful entry point to invest – announced the issuance of the United States Patent Office (USPTO) patent 11,113,709 which covers a key process in inventory management while allocating fractional shares to end users.
The patent covers the possibility of adjusting, in real time, the number of shares purchased in order to distribute these shares in the individual brokerage accounts of consumers. The ability to respond to multiple events both in real time and over time enables Bumped to optimize the inventory inventory needed for distribution to consumer brokerage accounts. The patented process allows Bumped to increase stock acquisitions while reducing the potential financial risk of excessive stock purchases.
This patent is in addition to existing Bumped patents, which also includes the USPTO patent 9 842 344. The earlier patent covers the basic concept of using stocks as a reward for a consumer’s loyalty to a business. Bumped also filed a number of other patents, all focused on streamlining stock splitting as a reward.
Bumped’s growing patent portfolio is a testament to the methods and processes needed to reward consumers using inventory, and the company’s commitment to creating a safe, secure and scalable platform.
Why stock rewards? According to a survey by Bumped, 88% of users would participate if they had the opportunity to be rewarded in shares by their financial institution, and 66% would be more likely to be engaged with other banking products because of the rewards in actions.
“We are excited to bring these innovative solutions to market for brands and banks to build incredible new relationships with their consumers. Rewarding consumers in this way can fundamentally change markets and create wider inclusion,” said David nelsen, CEO and Founder of Bumped. “We believe that as the first company to provide fractional stock as loyalty, this patent demonstrates the unique way Bumped enables brands and financial institutions to deliver stock rewards quickly and efficiently, and further validates our work by creating a proprietary economy. “
Bumped is a technology company whose mission is to create a proprietary economy. Bumped’s technology empowers consumers to turn their daily expenses into free actions, and its suite of tools helps businesses reward their customers in fractional shares. Bumped believes that we are all creating the economy together and that we should all 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, a member of FINRA / SIPC. More information about Bumped Financial LLC on FINRA’s FINRA BrokerCheck website.
Investing in securities involves risks, including possible loss of principal: Not FDIC insured • No bank guarantee • May lose value. Past performance is no guarantee of future results. Nothing on this site should be construed as an offer to buy or sell securities.
All market, economic and / or performance data presented is for hypothetical and illustrative purposes only. Data does not represent actual results. Participation is reserved for investors who understand and accept the risks inherent in their Bumped Accounts. Only qualifying purchases made under the terms and conditions are eligible for stock rewards. Bumped does not charge brokerage fees. Bumped reserves the right to restrict or revoke any offer at any time.
Investors receive ETF shares as a reward. Investors should carefully consider their investment objectives and risks before investing. This and other information can be found in the fund prospectus. Please read the prospectus carefully before choosing to invest.
Rewards are accrued for the investment after qualifying purchases, but may be forfeited if the qualifying transaction is subsequently canceled. Bumped does not assume the risk of market movements for returned items or disqualified transactions.
Bumped Inc., its subsidiaries, agents and employees expressly disclaim all liability for and do not maintain, control, recommend or endorse any third party sites, organizations, products or services, and make no representations as to the completeness, suitability, or quality of it.
A few remarks on fractional shares: they are generally not transferable between brokerage firms. If you want to transfer your Bumped account, you may need to sell your fractional shares first. Fractions of shares cannot be certified or physically mailed, and they do not have voting rights.
SOURCE Bumped Inc