Method and system for processing payments
First Claim
1. A method of processing child support payments which comprises:
- a. collecting a quantity of envelopes containing remittances, paper financial instruments, and associated documents,b. passing said envelopes, remittances, paper financial instruments and associated documents through an electronic scanner, and converting the information contained therein into electronic virtual envelopes, wherein each envelope'"'"'s images are indexed and stored to a file system by a real time interface, andc. accumulating a predetermined number of virtual envelopes sufficient to comprise a virtual batch, andd. forwarding the data from the virtual batch of virtual envelopes to a server on which is installed a workflow manager software program that is responsible for directing the virtual envelopes through the system for completion, ande. forwarding the images of financial instruments from the batch of virtual envelopes to a server having a financial instrument software program installed therein, which program reads the data appearing on the financial instruments, andf. forwarding the images of the remittances in the virtual envelopes to a server having an optical character reading program installed in it, which program reads and extracts the date from the images of the remittances, andg. forwarding the data from the optical character reader to a server having an intelligent remittance recognition software program installed therein, which software program further parses the data, comparing the data obtained from the intelligent remittance recognition software program with data from a pre-existing positive data bank to validate and identify payments listed in the remittances, and identify errors in the remittances, andh. forwarding the output data from said intelligent remittance recognition software program to a server upon which is installed an online application containing software specifically designed for and having means for inputting information from other sources to resolve issues discovered by the financial instrument validation and intelligent remittance recognition software, andi. exporting the output data from the server containing data repository to the child support enforcement entity, and to a check encoding machine or process for encoding information on the paper financial instruments, andj. preparing deposits for transmission to a client bank.
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0 Petitions
Accused Products
Abstract
A payment processing method and system is described which involves serially processing remittance documents, e.g. financial instruments, remittances, and associated documents obtained from diverse sources, electronically scanning the financial instruments and other remittance documents, thereby converting the information contained thereon into a digital format. The digital information is passed through a series of software programs and associated hardware that read the scanned financial instruments, remittances, and other documents, and compares the information obtained with preexisting information about the payor, detects errors, and the like automatically, with minimal human intervention. It also allows the information to be corrected and passed to a check encoding machine or process which imparts desired information on said checks before they are sent to a bank for deposit.
The system is a plurality of electronically interconnected machines and computer servers having unique software programs installed therein, thereby allowing the remittances, financial instruments, and other documents to be processed automatically with a minimum of human interactions.
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Citations
22 Claims
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1. A method of processing child support payments which comprises:
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a. collecting a quantity of envelopes containing remittances, paper financial instruments, and associated documents, b. passing said envelopes, remittances, paper financial instruments and associated documents through an electronic scanner, and converting the information contained therein into electronic virtual envelopes, wherein each envelope'"'"'s images are indexed and stored to a file system by a real time interface, and c. accumulating a predetermined number of virtual envelopes sufficient to comprise a virtual batch, and d. forwarding the data from the virtual batch of virtual envelopes to a server on which is installed a workflow manager software program that is responsible for directing the virtual envelopes through the system for completion, and e. forwarding the images of financial instruments from the batch of virtual envelopes to a server having a financial instrument software program installed therein, which program reads the data appearing on the financial instruments, and f. forwarding the images of the remittances in the virtual envelopes to a server having an optical character reading program installed in it, which program reads and extracts the date from the images of the remittances, and g. forwarding the data from the optical character reader to a server having an intelligent remittance recognition software program installed therein, which software program further parses the data, comparing the data obtained from the intelligent remittance recognition software program with data from a pre-existing positive data bank to validate and identify payments listed in the remittances, and identify errors in the remittances, and h. forwarding the output data from said intelligent remittance recognition software program to a server upon which is installed an online application containing software specifically designed for and having means for inputting information from other sources to resolve issues discovered by the financial instrument validation and intelligent remittance recognition software, and i. exporting the output data from the server containing data repository to the child support enforcement entity, and to a check encoding machine or process for encoding information on the paper financial instruments, and j. preparing deposits for transmission to a client bank. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A payment processing system comprising:
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a. a scanning machine for converting envelopes, financial instruments, remittances and other paper based written material into a digital format, said scanning machine creating a virtual envelope available for further processing and accumulating a predetermined number of virtual envelopes into a virtual batch, b. a computer server having software means installed therein for tracking the processing of each virtual envelope through the system from the moment it is received from the scanner until it is transferred to a structured client accounts receivable system, wherein said software means reads the data from a virtual envelope, and presents it to the individual responsible for processing the financial instruments along with the data entry fields pre-populated from the output of the software means if any issues are encountered with the financial instrument, c. a computer server having optical character reading software installed thereon for the specific purpose of reading and processing data contained on digitized financial instruments. d. a computer server having a software program installed therein that permits an operator to resolve issues encountered with the financial instrument, and to perform any additional data entry that might be required, e. a computer server having optical character reading software installed thereon for the specific purpose of capturing data contained on digitized documents other than financial instruments. f. a computer server having intelligent remittance recognition software program installed therein, g. a computer server having software means for capturing and storing other pertinent information on a database, h. a computer server having software installed therein which allows modifications to be made on the computer screen in the data being passed to it, i. a financial instrument encoding machine or electronic process that accepts data being presented to it from a computer server and encodes desired information on the financial instruments, j. means for preparing deposits from said encoded financial instruments, and k. means connecting each of the individual devices of subparagraphs (a) through (i) above electronically, so that data can be passed back and forth between them. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19)
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20. A method for processing payments which comprises:
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a. collecting a quantity of envelopes containing remittances, paper financial instruments, and associated documents, b. passing said envelopes, remittances, paper financial instruments and associated documents through an electronic scanner, and converting the information contained therein into electronic virtual envelopes, wherein each envelope'"'"'s images are indexed and stored to a file system by a real time interface, and c. accumulating a predetermined number of virtal envelopes sufficient to comprise a virtual batch, and d. forwarding the data from the virtual batch of virtual envelopes to a server on which is installed a workflow manager software program that is responsible for directing the virtual envelopes through the system for completion, and e. forwarding the images of financial instruments from the batch of virtual envelopes to a server having a financial instrument software program installed therein, which program reads the data appearing on the financial instruments, and f. forwarding the images of the remittances in the virtual envelopes to a server having an optical character reading program installed in it, which program reads and extracts the date from the images of the remittances, and g. forwarding the data from the optical character reader of (f) to a server having an intelligent remittance recognition software program installed therein, which software program further parses the data, comparing the data obtained from the intelligent remittance recognition software program with data from a pre-existing positive data bank to validate and identify payments listed in the remittances, and identify errors in the remittances, and h. forwarding the output data from said intelligent remittance recognition software program to a server upon which is installed an online application containing software specifically designed for and having means for inputting information from other sources to resolve issues discovered by the financial instrument validation and intelligent remittance recognition software, i. exporting the output data from the server containing data repository to a client entity, and to a check encoding machine or process for encoding information on the paper financial instruments, and j. preparing deposits for transmission to a client bank. - View Dependent Claims (21, 22)
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Specification