Predictive determination and resolution of a value of indicia located in a negotiable instrument electronic image

• US 10,229,395 B2
• Filed: 06/25/2015
• Issued: 03/12/2019
• Est. Priority Date: 06/25/2015
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Smith, Michael Gerald, Barrett, II, James F., Bastnagel, Andrew Patrick, Beaudry, Joshua Allen, Dryer, Eric, Gunsolley, Shawn Cart, Thompson, Marshall Bright, Wisser, Michael Matthew
• Primary Examiner(s): Hamilton, Lalita M
• Application Number:
  US14/750,393
• Publication Number:
  US 20160379185A1
• Time in Patent Office: 1,356 Days
• Field of Search: 705 35, 705 45
• CPC Class Codes: G06F 16/51 Indexing; Data structures therefor; Storage structures
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque

Abstract

Embodiments of the invention include systems, methods, and computer-program products for predictive determination and resolution of an exception located on a negotiable instrument. The exception may be an indicia that includes data related to the payor, payment accounts, or payee. An indicia may not be identified successfully and thus be queued for exception processing. The exceptions may include one or more irregularities such as bad micro line reads, outdated check stock, or misrepresentative indicia points on a negotiable instrument that may result in a failure to match the check to an account for processing. Upon identifying an exception, the system retrieves historical transaction data associated with the resolved indicia. Subsequently, utilizing the resolved indicia, the system may determine a value for the exception identified based on the retrieved historical transaction data. Finally, the determined value may be stored with the negotiable instrument to complete the payment reconciliation process.

Claims

1. A system for predictive determination and resolution of a value of one or more indicia located in an electronic image associated with a negotiable instrument, where the electronic image comprises a plurality of different indicia representing data associated with the negotiable instrument, said system comprising:

at least one electronic storage device; and

computer program instruction code stored in said electronic storage device, wherein said computer program instruction code is structured to cause said at least one electronic computing device to;

receive the negotiable instrument;

lift indicia from the negotiable instrument via optical character recognition, wherein the indicia is stored as metadata describing design, specification, and structure of the indicia;

identify within the indicia of the electronic image associated with the negotiable instrument an indicator associated within an indicia indicating one or more unresolved indicia in the electronic image that is not resolved;

discern data representing one or more resolved indicia from the electronic image, by identifying, from the metadata associated with the indicia, when the one or more resolved indicia comprises;

     1) data related to a payor,

     2) date related to a payor account, or

     3) dated related to a payee;

retrieve, systematically, historical transaction data matching the one or more resolved indicia;

identify one or more patterns between the historical transaction data and the one or more unresolved indicia and determine a resolution for the one or more unresolved indicia;

determine and store a value for the one or more unresolved indicia for presentation via user device for payment reconciliation processing;

cause the at least one electronic computing device to present the value determined for the one or more unresolved indicia to a user via an electronic interface;

receive confirmation from the user that the value determined for the one or more unresolved indicia is correct; and

store, electronically, the value determined for the one or more unresolved indicia with data for the image, such that the value may be used to process the negotiable instrument in a payment reconciliation process.

2. A system according to claim 1,

wherein the unresolved indicia is a payment amount for the negotiable instrument and the data representing the resolved indicia is data related to the payee,

wherein the historical transaction data is batch data representing a plurality of payments made to the payee that are being processed in a batch, where each transaction in the batch has a payment amount and the batch comprises a total payment amount for the entire batch, and

wherein said computing device further determines a value of the unresolved indicia by subtracting each of the individual payment amounts for each transaction in the batch from the total payment amount for the entire batch thereby leaving a difference that represents the value of the unresolved indicia.

3. A system according to claim 1, wherein the unresolved indicia is data identifying either the payor or the payor account, and the data representing the resolved indicia is data related to the payee, and wherein said computing device determines the value of the unresolved indicia by comparing historical transaction data associated with the payee, with data representing resolved indicia associated with the negotiable instrument.

4. A system according to claim 3, wherein the resolved indicia includes data representing an amount payable to the payee on the negotiable instrument, and wherein said computing device determines either one or both the payor or the payor account by identifying one or more payor information associated with other transaction in the historical transaction data of the payee for previous transactions of substantially the same amount as the amount payable for the negotiable instrument.

5. A system according to claim 3, wherein the resolved indicia includes data representing an amount payable to the payee on the negotiable instrument and a day of the month of the payment, and wherein said computing device determines either one or both the payor or the payor account by identifying one or more payor information associated with other transaction in the historical transaction data of the payee for previous transactions of substantially the same amount as the amount payable for the negotiable instrument and on substantially the same day of the month as the day of the month for the negotiable instrument.

6. A system according to claim 3, wherein the resolved indicia includes data representing the payor and an amount of the payment, and wherein said computing device determines either one or both the payee or the payee account by identifying one or more payee information associated with other transaction in the historical transaction data of the payor for previous transactions of substantially the same amount as the amount payable for the negotiable instrument.

7. A system according to claim 3, wherein the resolved indicia includes data representing the payor and a day of the month of the payment, and wherein said computing device determines either one or both the payee or the payee account by identifying one or more payee information associated with other transaction in the historical transaction data of the payor for previous transactions of substantially the day of the month as the day of the month for the negotiable instrument.

8. A computer program product located on a non-transitory computer readable medium for predictive determination and resolution of a value of one or more indicia located in an electronic image associated with a negotiable instrument, where the electronic image comprises a plurality of different indicia representing data associated with the negotiable instrument, said computer program product comprising instructions for operation by one or more computing devices processors, said instructions comprising:

receiving the negotiable instrument;

lifting indicia from the negotiable instrument via optical character recognition, wherein the indicia is stored as metadata describing design, specification, and structure of the indicia;

identifying within the indicia of the electronic image associated with the negotiable instrument an indicator associated within an indicia indicating one or more unresolved indicia in the electronic image that is not resolved;

discerning data representing one or more resolved indicia from the electronic image, by identifying, from the metadata associated with the indicia, when the one or more resolved indicia is at least one of;

     1) data related to a payor,

     2) date related to a payor account, or

     3) dated related to a payee;

retrieving, systematically, historical transaction data matching the one or more resolved indicia;

identifying one or more patterns between the historical transaction data and the one or more unresolved indicia and determine a resolution for the one or more unresolved indicia;

determining and storing a value for the one or more unresolved indicia for presentation via user device for payment reconciliation processing;

causing the at least one electronic computing device to present the value determined for the one or more unresolved indicia to a user via an electronic interface;

receive confirmation from the user that the value determined for the one or more unresolved indicia is correct; and

store, electronically, the value determined for the one or more unresolved indicia with data for the image, such that the value may be used to process the negotiable instrument in a payment reconciliation process.

9. A computer program product according to claim 8, wherein the unresolved indicia is data identifying either the payor or the payor account, and the data representing the resolved indicia is data related to the payee, and wherein said a third set of instruction codes is structured to cause a computing device to further determine a value of the unresolved indicia by comparing historical transaction data associated with the payee, with data representing resolved indicia associated with the negotiable instrument.

10. A computer program product according to claim 9, wherein the resolved indicia includes data representing an amount payable to the payee on the negotiable instrument, and wherein said third set of instruction codes is structured to cause a computing device to determine either one or both the payor or the payor account by identifying one or more payor information associated with other transaction in the historical transaction data of the payee for previous transactions of substantially the same amount as the amount payable for the negotiable instrument.

11. A computer program product according to claim 9, wherein the resolved indicia includes data representing an amount payable to the payee on the negotiable instrument and a day of the month of the payment, and wherein said third set of instruction codes is structured to cause a computing device to determine either one or both the payor or the payor account by identifying one or more payor information associated with other transaction in the historical transaction data of the payee for previous transactions of substantially the same amount as the amount payable for the negotiable instrument and on substantially the same day of the month as the day of the month for the negotiable instrument.

12. A computer program product according to claim 9, wherein the resolved indicia includes data representing the payor and an amount of the payment, and wherein said third set of instruction codes is structured to cause a computing device to determine either one or both the payee or the payee account by identifying one or more payee information associated with other transaction in the historical transaction data of the payor for previous transactions of substantially the same amount as the amount payable for the negotiable instrument.

13. A computer program product according to claim 9, wherein the resolved indicia includes data representing the payor and a day of the month of the payment, and wherein said third set of instruction codes is structured to cause a computing device to determine either one or both the payee or the payee account by identifying one or more payee information associated with other transaction in the historical transaction data of the payor for previous transactions of substantially the day of the month as the day of the month for the negotiable instrument.

14. A computer implemented method for predictive determination and resolution of a value of one or more indicia located in an electronic image associated with a negotiable instrument, where the electronic image comprises a plurality of different indicia representing data associated with the negotiable instrument, said method implemented by one or more electronic computing devices and comprising:

receiving the negotiable instrument;

lifting indicia from the negotiable instrument via optical character recognition, wherein the indicia is stored as metadata describing design, specification, and structure of the indicia;

identifying within the indicia of the electronic image associated with the negotiable instrument an indicator associated within an indicia indicating one or more unresolved indicia in the electronic image that is not resolved;

discerning data representing one or more resolved indicia from the electronic image, by identifying, from the metadata associated with the indicia, when the one or more resolved indicia comprises;

     1) data related to a payor,

     2) date related to a payor account, or

     3) dated related to a payee;

retrieving, systematically, historical transaction data matching the one or more resolved indicia;

identifying one or more patterns between the historical transaction data and the one or more unresolved indicia and determine a resolution for the one or more unresolved indicia;

determining and storing a value for the one or more unresolved indicia for presentation via user device for payment reconciliation processing;

causing the at least one electronic computing device to present the value determined for the one or more unresolved indicia to a user via an electronic interface;

receive confirmation from the user that the value determined for the one or more unresolved indicia is correct; and

store, electronically, the value determined for the one or more unresolved indicia with data for the image, such that the value may be used to process the negotiable instrument in a payment reconciliation process.

15. A computer implement method according to claim 14,

wherein the unresolved indicia is a payment amount for the negotiable instrument and the data representing the resolved indicia is data related to the payee,

wherein the historical transaction data is batch data representing a plurality of payments made to the payee that are being processed in a batch, where each transaction in the batch has a payment amount and the batch comprises a total payment amount for the entire batch, and

further comprising determining a value for the one or more unresolved indicia in the image comprises determining the value of the unresolved indicia by subtracting each of the individual payment amounts for each transaction in the batch from the total payment amount for the entire batch thereby leaving a difference that represents the value of the unresolved indicia.

16. A computer implemented method according to claim 14, wherein the unresolved indicia is data identifying either the payor or the payor account, and the data representing the resolved indicia is data related to the payee, and wherein said determining a value for the one or more unresolved indicia in the image comprises determining the value of the unresolved indicia by comparing historical transaction data associated with the payee, with data representing resolved indicia associated with the negotiable instrument.

17. A computer implemented method according to claim 16, wherein the resolved indicia includes data representing an amount payable to the payee on the negotiable instrument, and wherein said determining a value for the one or more unresolved indicia in the image comprises determining either one or both the payor or the payor account by identifying one or more payor information associated with other transaction in the historical transaction data of the payee for previous transactions of substantially the same amount as the amount payable for the negotiable instrument.

18. A computer implemented method according to claim 16, wherein the resolved indicia includes data representing an amount payable to the payee on the negotiable instrument and a day of the month of the payment, and wherein said determining a value for the one or more unresolved indicia in the image comprises determining either one or both the payor or the payor account by identifying one or more payor information associated with other transaction in the historical transaction data of the payee for previous transactions of substantially the same amount as the amount payable for the negotiable instrument and on substantially the same day of the month as the day of the month for the negotiable instrument.

19. A computer implemented method according to claim 16, wherein the resolved indicia includes data representing the payor and an amount of the payment, and wherein said determining a value for the one or more unresolved indicia in the image comprises determining either one or both the payee or the payee account by identifying one or more payee information associated with other transaction in the historical transaction data of the payor for previous transactions of substantially the same amount as the amount payable for the negotiable instrument.

20. A computer implemented method according to claim 16, wherein the resolved indicia includes data representing the payor and a day of the month of the payment, and wherein said determining a value for the one or more unresolved indicia in the image comprises determining either one or both the payee or the payee account by identifying one or more payee information associated with other transaction in the historical transaction data of the payor for previous transactions of substantially the day of the month as the day of the month for the negotiable instrument.