IMAGE EXCHANGE WITHOUT FULL MICR QUALIFICATION

• US 20100281300A1
• Filed: 07/19/2010
• Published: 11/04/2010
• Est. Priority Date: 06/18/2004
• Status: Active Grant

• Current Assignee: Joseph L. Richardson, Joseph M. Rowell
• Original Assignee: Joseph L. Richardson, Joseph M. Rowell
• Inventors: Richardson, Joseph L., Rowell, Joseph M.
• Granted Patent: US 8,573,478 B2
• Time in Patent Office: Days
• US Class Current: 714/15
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/40 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: G06V 30/10 Character recognition
• CPC Class Codes: G06V 30/127 with the intervention of an operator
• CPC Class Codes: G06V 30/262 using context analysis, e.g. lexical, syntactic or semantic context

Abstract

A system and related methods of correcting errors during check or financial document processing by a bank of first deposit or other entity receiving a paper check or financial document, or by a second bank on whose accounts the checks were written. These corrections can be performed by the computer system of the bank of first deposit, the computer system of the second bank, or both. MICR or other data may be sent in electronic format from the bank of first deposit or other entity without qualification.

Claims

1. A system for processing documents with data, comprising:

a file controller adapted to receive electronic files derived from one or more paper documents;

further wherein the system is adapted to perform correction of data in said electronic files by comparing a number in said data for one of said paper documents that contains one or more failed characters that were not or could not be read or retrieved by, or that were improperly or incorrectly read or retrieved by, the document processor, with a plurality of permissible numbers each including valid characters operable to replace the failed characters, wherein said plurality of permissible numbers are not determined from historical transaction data with numbers associated with the paper document being processed, and automatically and electronically replacing said failed number with one of said permissible numbers.

2. The system of claim 1, wherein said electronic files comply with the ANSI X9.37 standard.

3. The system of claim 1, wherein said file controller is in communication with means for data storage.

4. The system of claim 3, wherein the means for data storage comprises a database.

5. The system of claim 1, wherein some or all of the data received is without qualification.

6. A method for processing documents with data, comprising the steps of:

receiving data about one or more documents in electronic format;

examining the data to determine if any errors exist in the data; and

attempting to correct any errors that have been identified in the data by comparing a number in the received data for the document being processed that contains one or more characters that were not or could not be read or retrieved by, or that were improperly or incorrectly read or retrieved by, the document processor, with a plurality of permissible numbers each including valid characters operable to replace the failed characters, wherein said plurality of permissible numbers are not determined from historical transaction data with numbers associated with the paper document being processed, and automatically and electronically replacing said failed number with one of said permissible numbers.

7. A computer-implemented method for processing transmitted data, comprising the steps of:

receiving in a computer memory electronic data associated with one or more documents;

examining the data associated with a first document to determine if any errors exist in the data;

attempting to correct any errors that have been identified in the data by comparing a number in the data that contains one or more failed characters that are incorrect with a plurality of permissible numbers each including valid characters operable to replace the failed characters, wherein said plurality of permissible numbers are not determined from historical transaction data with numbers associated with the document associated with the data being processed, and automatically and electronically replacing in a computer memory said failed number with one of said permissible numbers; and

repeating the examining and attempting to correct steps until all data associated with one or more documents have been processed.