TRANSACTION PROCESSING WITH CORE AND DISTRIBUTOR PROCESSOR IMPLEMENTATIONS

• US 20090259576A1
• Filed: 06/25/2009
• Published: 10/15/2009
• Est. Priority Date: 11/12/1996
• Status: Active Grant

• Current Assignee: US Bank National Association (US Bancorp)
• Original Assignee: US Bank National Association (US Bancorp)
• Inventors: Hahn-Carlson, Dean W.
• Granted Patent: US 8,825,549 B2
• Time in Patent Office: Days
• US Class Current: 705/30
• CPC Class Codes: G06Q 10/08 Logistics, e.g. warehousing, loading or distribution; Inventory or stock management
• CPC Class Codes: G06Q 20/00 Payment architectures, schemes or protocols apparatus for performing or posting payment transactions G07F7/08, G07F19/00; electronic cash registers G07G1/12
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/0855 involving a third party
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/4016 involving fraud or risk level assessment in transaction processing
• CPC Class Codes: G06Q 20/403 Solvency checks
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 2220/10 Usage protection of distributed data files
• CPC Class Codes: G06Q 30/0283 Price estimation or determination
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

Transaction processing for distributor-based transactions is facilitated. According to an example embodiment of the present invention, a transaction management approach involves the processing of aspects of a transaction between contracting parties using transaction rules associated with an administrator and at least one distributor sponsoring the transaction. In some applications, the administrator finances the transaction. Fees are assessed as a function of the transaction processing on behalf of the administrator and, in come instances, the distributor.

Claims

1. A system for dynamic profile-based auditing of transaction data, the system comprising:

a cross-correlation database that stores profile list criteria for contracting transaction parties and processing distributors that sponsor transactions, contract data for a multitude of disparate contracts between transaction parties, and correlation data for correlating transaction data sets received over a communications network from remote transaction parties with the profile list criteria and contract data, and

a computer-based correlation processor including a computer programmed to use the stored correlation data to generate transaction processing information in response to each transaction data set received over the communications network, said transaction processing information including a code to identify a performing transaction party, a code to identify a purchasing transaction party, and information identifying goods or services associated with the transaction; and

a computer-based transaction processor programmed, for each transaction data set and a transaction to which the data set applies, to

determine whether the transaction processing information satisfies profile list criteria correlated with the transaction data set,

identify an auditing algorithm based upon the generated transaction processing information,

execute the auditing algorithm, using the transaction processing information and both distributor-specific and party-specific profile list criteria as inputs, to audit the transaction data set to determine a condition of payment thereof, and

in response to the audit and to receiving electronic performance data indicating performance by a performing transaction party, generate and output electronic payment data representing distributor-profile and party-profile criteria-based audit approval for the transaction data set.

2. The system of claim 1, wherein the transaction processor is programmed to carry out the indicated steps, for each of a plurality of different transaction data sets pertaining to different distributors and transaction parties, by executing an algorithm with variable parameters specific to the processing distributor sponsoring the transaction to which the transaction data set applies.

3. The system of claim 1, wherein the transaction processor includes a transaction document price-rating engine programmed to assign a price term to each transaction data set using the profile criteria, and to generate the electronic payment data using the assigned price term.

4. The system of claim 1, wherein the transaction processor is programmed to

assign a price term to each transaction data set for a transaction using the profile criteria and a rate structure agreed upon by parties to the transaction and stored as part of the contract data in the correlation database, and

generate the electronic payment data using the assigned price term.

5. The system of claim 1, wherein the transaction processor is programmed to execute the auditing algorithm to audit transactions on behalf of each of a multitude of transaction parties using separately agreed upon pricing terms for each of the parties involved in each transaction as stored in the correlation database and identified via the identifying codes.

6. The system of claim 1, wherein the transaction processor is programmed to execute the auditing algorithm using stored data representing a rate structure agreed upon by parties to the transaction and stored as part of the contract data in the correlation database, to determine a condition of payment for the transaction data set based upon the rate structure.

7. The system of claim 1, wherein the transaction processor is programmed, for each of a plurality of different transaction data sets pertaining to different distributors and transaction parties, to execute the auditing algorithm by executing an auditing algorithm that is specific to the processing distributor sponsoring the transaction to which the transaction data set applies, to determine whether the transaction data set satisfies a stored profile list criteria for the distributor, and for auditing the transaction data set based upon auditing inputs defined for the distributor.

8. A dynamic profile-based correlation and auditing method comprising:

storing, in a correlation database, profile list criteria for contracting transaction parties and processing distributors that sponsor transactions, contract data for a multitude of disparate contracts between transaction parties, and correlation data for correlating transaction data sets received over a communications network from remote transaction parties with the profile list criteria and contract data,

using the stored correlation data, operating a computer-based correlation processor for generating transaction processing information in response to each transaction data set received over the communications network, said transaction processing information including a code to identify a performing transaction party, a code to identify a purchasing transaction party, and information identifying goods or services associated with the transaction, and

for each transaction data set and a transaction to which the data set applies, operating a computer-based transaction processor for

determining whether the transaction processing information satisfies the correlated profile list criteria for the transaction data set,

identifying an auditing algorithm based upon the generated transaction processing information,

executing the auditing algorithm using the transaction processing information and distributor-specific and party-specific profile list criteria as inputs to audit the transaction data set and payment thereof, and

in response to receiving electronic performance data indicating performance by a performing transaction party, generating and outputting electronic payment data representing distributor-profile and party-profile criteria-based audit approval for the transaction data set in response to the audit.

9. The method of claim 8, wherein executing the auditing algorithm includes executing an algorithm with variable parameters that pertain to profile criteria for a distributor and transaction parties involved in each transaction to which each respective transaction data set applies, as stored in the correlation database.

10. The method of claim 8, wherein executing the auditing algorithm includes executing separate auditing algorithms for each transaction respectively using data representing separately agreed-upon pricing terms with each of the transaction parties for the respective transactions as stored in the correlation database.

11. The method of claim 8, wherein executing the auditing algorithm includes executing an auditing algorithm that is specific to one of a plurality of transaction processing distributors sponsoring a party to the transaction, for determining whether the transaction information satisfies profile list criteria for a party to the transaction as stored in the correlation database.