REAL TIME FINANCIAL INSTRUMENT IMAGE EXCHANGE SYSTEM AND METHOD

• US 20090198606A1
• Filed: 04/08/2009
• Published: 08/06/2009
• Est. Priority Date: 01/11/2002
• Status: Active Grant

• Current Assignee: Advanced Financial Solutions Incorporated (Fidelity National Information Services Incorporated)
• Original Assignee: Advanced Financial Solutions Incorporated (Fidelity National Information Services Incorporated)
• Inventors: Downs, Charles H. JR., Miller, Michael M., Craig, Mark S.
• Granted Patent: US 7,761,358 B2
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/0425 the cheque being electronic only
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

A real time financial instrument image exchange system and method deliver a digital image of a financial instrument (for example, a bank check) very quickly through an image exchange network to a payor institution by promptly forwarding the digital image when it is created at a depositing institution. This may expedite pay or return decisions to be made by payor institutions, which may enable banks to truncate checks, to reduce fraud and its costs, and to facilitate compliance with banking regulations. Such image capture, as well as related data capture, and real-time transfer enable emulation to an item processing system of the payor institution whereby the payor'"'"'s item processing system processes the image and data as if it did the original capture actually performed at the depositing institution.

Claims

1. A real time financial instrument image exchange method institution comprising:

a first financial institution receiving an individual financial instrument and identifying a second financial institution associated with said financial instrument;

capturing at said first financial institution a digital image for said financial instrument processed at said first financial institution;

detecting a MICR line on said financial instrument and creating a data file based on a reading of said MICR line;

upon identification of said second financial institute, said first financial institute electronically copying, into an image exchange network, the captured digital image and data file; and

,

simultaneously with the step of electronically copying, communicating via an image exchange network the copied digital image and data file to said second financial institute for use on behalf of the identified second financial institution.

2. The method of claim 1, wherein said image exchange network includes a client image exchange server associated with said first financial institute and further comprising the step of determining if the data file is sufficient to identify said second financial institution prior to copying the digital image and data file to said client image exchange server associated with said first financial institute.

3. The method of claim 2, further comprising the step of forwarding the digital image and data file to a central image exchange server.

4. The method of claim 3, further comprising the step of said central image exchange server ascertaining the second financial institution from the data file received from the client exchange server associated with the first financial institute and copying the digital image and data file to the client exchange server associated with the second financial institution.

5. The method of claim 1, wherein each financial instrument is processed immediately upon receipt by said first financial institution.

6. The method of claim 1, wherein the step of reading said MICR line produces errors in said data file and further comprising the step of correcting said data file prior to communicating said data file to said central image exchange server.

7. A financial instrument image and data exchange method comprising:

a first financial institution capturing digital images of a financial instrument;

said first financial institution detecting a MICR line on said financial instrument and creating a data file based on a reading of said MICR line;

concurrently with creating the electronic image, storing the created electronic image in a first client image exchange server, which is operatively associated with the first financial institution;

concurrently with storing the created electronic image, sending signals to a central image exchange server, said signals encoded to represent the stored electronic image and encoded to identify a second financial institution to a central image exchange server; and

,

sending the encoded signals from the central image exchange server to a second client image exchange server, which is operatively associated with the second financial institution.

8. The method of claim 7, further comprising the step of determining if the data file is sufficient to identify said second financial institution prior to storing the digital image and data file in said first client image exchange server.

9. The method of claim 7, wherein each financial instrument is processed immediately upon receipt by said first financial institution.

10. The method of claim 7, wherein the step of reading said MICR line produces errors in said data file and further comprising the step of correcting said data file prior to communicating said data file to said central image exchange server.

11. The method of claim 7, further comprising the step of said central image exchange server ascertaining the second financial institution from the data file received from the client exchange server associated with the first financial institute and copying the digital image and data file to the client exchange server associated with the second financial institution.

12. A method of processing a tangible bank check having MICR information and drawn on a customer'"'"'s account at a payor bank comprising:

receiving the bank check at a bank of first deposit said bank of first deposit being different from the payor bank;

creating electronic data for the bank check in response to at least part of the MICR information on the bank check and concurrently creating an electronic image of the image of the bank check;

in real time with creating the electronic data and image, transmitting the electronic data and electronic image to a first client image exchange server operatively associated with the bank of first deposit;

transmitting the captured electronic data and electronic image from the first client image exchange server to a central image exchange server;

transmitting the electronic data and electronic image from the central image exchange server to a second client image exchange server, the second client image exchange server operatively associated with the payor bank; and

,

transmitting at least the electronic data in the second client image exchange server to an item processing system of the payor bank when the electronic data contains correct data.

13. A method as defined in claim 12, further comprising transmitting at least the electronic data in the second client image exchange server to an item processing system of the payor bank when the electronic data contains correct data.

14. The method of claim 12, further comprising the step of determining if the electronic data for the bank check is sufficient to identify said payor bank prior to transmitting the captured electronic data and electronic image from the first client image exchange server to a central image exchange server.

15. The method of claim 12, wherein each financial instrument is processed immediately upon receipt by said first financial institution.

16. The method of claim 12, wherein the step of creating electronic data for the bank check in response to at least part of the MICR information on the bank check produces errors in said electronic data and further comprising the step of correcting said electronic data prior to transmitting the captured electronic data and electronic image from the first client image exchange server to a central image exchange server.

17. A financial instrument capture emulation method comprising:

a presenting financial institution receiving an individual financial instrument;

using a first client exchange server associated with said presenting financial institution to capture a digital image and raw data for said financial instrument processed at said first financial institution, said client exchange server concurrently forwarding said digital image and raw data to a central exchange server;

said central exchange server ascertaining a paying institution associated with said raw data and said central exchange server concurrently copying said digital image and raw data to a second client exchange server associated with said paying institution;

said presenting institution correcting the raw data for said financial instrument;

said presenting institution using said client image exchange server to monitor the correction of said raw data;

said client image exchange server automatically freezing the corrected data to prevent further editing and automatically forwarding the corrected data to said central exchange server;

said central exchange server replacing said raw data with the corrected data;

said central exchange server forwarding said corrected data to said second client exchange server;

said second client exchange server replacing said raw data with said corrected data and places said digital image and said corrected data into a item processing system associated with said paying institution thereby generating a file input which emulates a file originally captured by said paying institution.

18. A method as defined in claim 17, wherein the financial instrument is a bank check processed through a check sorter of the item processing system for the sending financial institution.

19. A method as defined in claim 18, wherein providing the digital image and digital data to the item processing system for the receiving financial institution further includes communicating copies of signals from the check sorter through an image exchange computer network connected to the item processing system for the sending financial institution and the item processing system for the receiving financial institution.

20. A method as defined in claim 17, wherein providing the digital image and digital data to the item processing system for the receiving financial institution further includes communicating signals defining the digital image and digital data through an image exchange computer network connected to the item processing system for the sending financial institution and the item processing system for the receiving financial institution.

21. A financial instrument image and data exchange system, comprising:

means for capturing a digital image and a digital data record from a financial instrument processing system for a first financial institution at the time it is determined that the digital data record identifies a second financial institution; and

,

means for communicating, in real time with capturing the digital image and the digital data record, the captured digital image and digital data record for use on behalf of the identified second financial institution.

22. An image exchange system for financial instruments, comprising:

a plurality of financial institution item processing systems, each having a sorter that receives tangible financial instruments and provides received tangible financial instruments to MICR detecting equipment and optical imaging equipment of the sorter;

a plurality of client image exchange servers, each connected by a respective communication link to obtain data and image signals responsive to the MICR detecting equipment and optical imaging equipment of at least one of the financial institution item processing systems; and

,

a central image exchange server connected to the client image exchange servers such that the central image exchange server mediates real-time transfers of at least image signals between respective ones of the client image exchange servers.