Automated Handling of Exceptions in Financial Transaction Records

• US 20070069006A1
• Filed: 08/30/2006
• Published: 03/29/2007
• Est. Priority Date: 09/02/2005
• Status: Active Grant

• Current Assignee: American Express Travel Related Services Company, Inc. (American Express Company)
• Original Assignee: Honda Motor Co., Ltd. (Honda Motor Company)
• Inventors: Holmes, Frederic, Akahiji, Brian, Bullock, Sheri, Cordier, Daniel, Wu, Lester
• Granted Patent: US 8,540,140 B2
• Time in Patent Office: Days
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G07F 7/084 Additional components relating to data transfer and storing, e.g. error detection, self-diagnosis
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system

Abstract

A financial transactions control system may automate the correction of exceptions in financial transaction data. It may include an exception identification system configured to detect exceptions in the financial transaction data. It may include a storage system configured to store information about the detected exceptions, recipients designated to handle the detected exceptions, and the status of efforts to resolve the exceptions. An exception alert system may be configured to automatically in response to each detected exception look up the identity of at least one recipient that has been designated in the storage system to handle the exception, and to cause a message to be delivered to the at least one identified recipient alerting the at least one identified recipient to the exception. The financial transactions control system may also include an exception tracking system configured to track each exception and the status of efforts to resolve it.

Claims

1. A financial transactions control system for automating the correction of exceptions in financial transaction data comprising:

an exception identification system configured to detect exceptions in the financial transaction data;

a storage system configured to store information about the detected exceptions, recipients designated to handle the detected exceptions, and the status of efforts to resolve the exceptions;

an exception alert system configured to automatically in response to each detected exception;

look up the identity of at least one recipient that has been designated in the storage system to handle the exception; and

cause a message to be delivered to the at least one identified recipient alerting the at least one identified recipient to the exception; and

an exception tracking system configured to track each exception and the status of efforts to resolve it.

2. The financial transactions control system of claim 1 wherein:

the exception identification system is configured to identify the nature of each exception;

the storage system is configured to store information about the nature of exceptions that each recipient has been designated to handle; and

the exception alert system is configured to look up the identify of at least one recipient that is indicated in the storage system as having been designated to handle an exception of the nature identified.

3. The financial transactions control system of claim 2 wherein:

the exception identification system is configured to identify a business unit to which each exception relates;

the storage system is configured to store information about the business unit or units that each recipient has been designated to handle; and

the exception alert system is configured to look up the identify of at least one recipient that is indicated in the storage system as having been designated to handle exceptions relating to the identified business unit; and

4. The financial transactions control system of claim 1 further comprising a reporting system configured to generate reports about the exceptions and the status of efforts to resolve them.

5. The financial transactions control system of claim 4 wherein the reporting system is configured to sort at least one of the reports based on the age of the exception.

6. The financial transactions control system of claim 1 wherein the exception alert system is configured to deliver each message by email.

7. The financial transactions control system of claim 6 wherein the storage system is configured to store the email address of each recipient.

8. The financial transactions control system of claim 7 wherein the exception tracking system is configured to receive emails from each recipient to whom an alert was sent that include information about the status of efforts to resolve the exception for which a message was sent to the recipient by the exception alert system.

9. A financial transaction control process for automating the correction of exceptions in financial transaction data comprising:

detecting exceptions in the financial transaction data;

storing information about the detected exceptions, recipients designated to handle the detected exceptions, and the status of efforts to resolve the exceptions;

automatically in response to each detected exception;

looking up the identity of at least one recipient that has been designated in the storage system to handle the exception; and

delivering to the at least one identified recipient alerting the at least one identified recipient to the exception; and

tracking each exception and the status of efforts to resolve it.

10. A financial transactions control system for automating the correction of exceptions in financial transaction data comprising:

means for detecting exceptions in the financial transaction data;

means for storing information about the detected exceptions, recipients designated to handle the detected exceptions, and the status of efforts to resolve the exceptions;

means for automatically in response to each detected exception;

looking up the identity of at least one recipient that has been designated in the storage system to handle the exception; and

causing a message to be delivered to the at least one identified recipient alerting the at least one identified recipient to the exception; and

means for tracking each exception and the status of efforts to resolve it.