Financial services network and associated processes

• US 20060015450A1
• Filed: 07/13/2004
• Published: 01/19/2006
• Est. Priority Date: 07/13/2004
• Status: Abandoned Application

• Current Assignee: Wells Fargo Bank NA (Wells Fargo & Company)
• Original Assignee: Wells Fargo Bank NA (Wells Fargo & Company)
• Inventors: Tiggas, Mark SB, Guck, Christopher D., Schwalbach, Beverly J.
• Application Number:
  US10/890,495
• Publication Number:
  US 20060015450A1
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

Disclosed herein are a financial services network and associated processes for providing interactive transmissions between network participants. The financial services network includes a private and secure transport network that allows for any number of financial services to be conducted between participants and other entities associated with the network. Each participant can operate as a requestor or responder. The system also includes a network administrator that is configured to govern the flow of messages directly between participants. By interconnecting participants to an unlimited number of information providers, all participants can obtain information and verifications on an interactive basis. Also, by employing a single network having a standardized message format and protocol, all participants can quickly and easily interactively request or provide information and verify to any other participant without the concern of incompatibility between system, transmission, or even message formats or protocols.

Claims

1. A distributed financial services system, comprising:

a transport network for the transmission of messages thereacross regarding services associated with financial transactions;

a plurality of network integrators each connected to the transport network and configured to send and receive the messages across the transport network on behalf of entities connected to the transport network via corresponding network integrators, the plurality of network integrators using standardized message and transmission formats and protocols for the generating, sending and receiving the messages; and

a network administrator connected to the transport network via one of the plurality of network integrators and configured to facilitate and govern the transmission of the messages across the transport network directly between the plurality of network integrators.

2. A distributed financial services system according to claim 1, further comprising a plurality of interface adapters associated with corresponding entities and in communication with corresponding network integrators, wherein each of the plurality of interface adapters is configured to:

translate requests or responses generated by its corresponding entity to the standardized message format,

forward the translated requests or responses to its corresponding network integrator for generating a message based on the forwarded requests or responses, and

receive requests or responses from its corresponding network integrator, the received requests or responses extracted from messages received by the corresponding network integrator across the transport network.

3. A network integrator providing a participant access to a transport network used for transmitting a message thereacross regarding services associated with financial transactions, the network integrator comprising:

a message relay module configured to receive requests or responses from the participant, and to generate the message based on the request or response;

an administrative tasks module configured to determine a direct transmission path of the message to a second network integrator connected to the transport network; and

a message relay/receiver module configured to send the message to the second network integrator using message and transmission formats and protocols standard to the network integrators.

4. A network integrator according to claim 3, wherein:

the relay/receiver module is further configured to receive a message having requests or responses from a second participant sent via the second network integrator using message and transmission formats and protocols standard to the network integrators;

the administrative tasks module is further configured to log receipt of the message; and

the message relay module is further configured to send the requests or responses in the message to the first participant.

5. A method of communicating messages across a transport network, the method comprising:

receiving, at a first network integrator connected to the transport network, requests or responses from a first participant, the requests or responses regarding services associated with financial transactions;

generating a message based on the request or response with the first integrator;

determining with the first integrator a direct transmission path of the message to a second network integrator connected to the transport network;

transmitting the message to the second network integrator via the transport network using message and transmission formats and protocols standard to the network integrators;

receiving the message at the second network integrator;

extracting the requests or responses from the message using the second network integrator; and

sending the requests or responses to a second participant associated with the second network integrator.

6. A method according to claim 5, further comprising:

creating an intervening request by the second participant based on a received original request message from the first network integrator participant, the original request message comprising an original request from the first participant and awaiting a final response;

sending the intervening request to the second network integrator;

generating an intervening request message based on the intervening request with the second network integrator, and transmitting the intervening request message to a third network integrator via the transport network using the standardized message and transmission formats and protocols;

receiving an intervening response message at the second network integrator from the third network integrator, and extracting an intervening response from the intervening response message using the second network integrator, the intervening response answering the intervening request;

sending the intervening response to the second participant, the second participant generating the final response to the original request from the first participant based on the intervening response and sending the final response to the second network integrator; and

transmitting a final response message from the second network integrator to the first network integrator via the transport network using the standardized message and transmission formats and protocols, the final response message comprising the final response answering the original request.

7. A method of communicating messages across a transport network, the method comprising:

receiving a first request from a first participant at a first integrator connected to the transport network, the first request regarding services associated with financial transactions;

generating a first request message based on the first request with the first integrator, and transmitting the first request message to a second integrator via the transport network;

extracting the first request from the first request message using the second integrator, and sending the first request to a second participant associated with the second integrator;

generating a first response to the first request comprising a answer and a qualifying statement, the qualifying statement providing that a different answer may be generated if a second request contained additional information;

sending the first response to the second integrator for generating a first response message based on the first response with the second integrator, and transmitting the first response message to the first integrator via the transport network;

extracting the first response from the first response message using the first integrator, and sending the first response to the first participant;

generating a second request by the first participant, the second substantially similar to the first request and further comprising the additional information;

sending the second request to the first integrator for generating a second request message based on the second request, and transmitting the second request message to the second integrator via the transport network;

extracting the second request from the second request message using the second integrator, and sending the second request to the second participant;

generating a second response to the second request based on the first request and the additional information, the second response comprising an answer different from the first response;

sending the second response to the second integrator for generating a second response message based on the second response, and transmitting the second response message to the first integrator via the transport network; and

extracting the second response from the second response message using the first integrator, and sending the second response to the first participant.

8. A method of prioritizing transmission of messages containing requests or responses regarding services in financial transactions across a network, the method comprising:

providing a message containing an immediate request regarding a first financial transaction in need of an immediate response to the immediate request in order to be completed;

providing a message containing a nonimmediate request regarding a second financial transaction not in need of an immediate response to the nonimmediate request in order to be completed;

designating the immediate request and immediate response as high priority, and designating the nonimmediate request and nonimmediate response as low priority; and

transmitting the request and response designated high priority before transmitting the request and response designated low priority such that the first financial transaction is completed before the second transaction.