Automatic Modification of Financial Record Parameters

• US 20110106672A1
• Filed: 01/27/2010
• Published: 05/05/2011
• Est. Priority Date: 10/30/2009
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Stinson, Joseph Michael
• Granted Patent: US 8,468,069 B2
• Time in Patent Office: Days
• US Class Current: 705/30
• 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

Formatting of data entered and/or stored in a financial transaction record may be automatically corrected or modified to an expected or compatible format. The format in which data is to be stored may be defined by a financial institution processing the transaction and/or a customer affected by the transaction. Format rules may be defined and used to judge whether a transaction record parameter meets the required format. If so, the record parameter may be validated and saved. If, however, the parameter is not formatted according to the rule, the system may automatically revise the value stored in the parameter to satisfy the requirements. According to another aspect, if a transaction record has been modified, manual confirmation of the change may be requested.

Claims

1. A method comprising:

receiving, at a financial record processing system, data corresponding to a financial transaction;

generating a transaction record for the financial transaction;

determining whether a first parameter of the transaction record is formatted according to a first format, wherein the first format includes a predefined number of characters; and

in response to determining that the first parameter of the transaction record is not formatted according to the first format, automatically modifying the first parameter to match the first format including the predefined number of characters.

2. The method of claim 1, wherein determining that the first parameter is not formatted according to the first format includes determining that the first parameter includes a number of characters greater than the predefined number of characters;

and

wherein automatically modifying the first parameter to match the first format includes truncating the first parameter.

3. The method of claim 1, wherein determining that the first parameter is not formatted according to the first format includes determining that the first parameter includes a number of characters less than the predefined number of characters;

and

wherein automatically modifying the first parameter to match the first format includes adding one or more characters to the first parameter.

4. The method of claim 3, wherein the one or more characters include zeroes.

5. The method of claim 1, further comprising prompting for manual confirmation that the modification is correct upon automatically modifying the first parameter.

6. The method of claim 1, further comprising determining the first format based on a type of financial parameter of the first parameter.

7. The method of claim 1, further comprising determining that first format based on a customer associated with the transaction record.

8. The method of claim 1, wherein the first format is specified by a customer affected by the financial transaction.

9. An apparatus comprising:

a processor; and

memory operatively coupled to the processor and storing computer readable instructions that, when executed, cause the apparatus to;

receive, at a financial institution, data corresponding to a financial transaction;

generate a transaction record for the financial transaction;

determining whether a first parameter of the transaction record is formatted according to a first format, wherein the first format includes a predefined number of characters; and

in response to determining that the first parameter of the transaction record is not formatted according to the first format, automatically modify the first parameter to match the first format including the predefined number of characters.

10. The apparatus of claim 9, wherein determining that the first parameter is not formatted according to the first format includes determining that the first parameter includes a number of characters greater than the predefined number of characters;

and

wherein automatically modifying the first parameter to match the first format includes truncating the first parameter.

11. The apparatus of claim 9, wherein determining that the first parameter is not formatted according to the first format includes determining that the first parameter includes a number of characters less than the predefined number of characters;

and

wherein automatically modifying the first parameter to match the first format includes adding one or more characters to the first parameter.

12. The apparatus of claim 11, wherein the one or more characters include zeroes.

13. The apparatus of claim 9, wherein the computer readable instructions, when executed, further cause the apparatus to prompt for manual confirmation that the modification is correct upon automatically modifying the first parameter.

14. The apparatus of claim 9, wherein the computer readable instructions, when executed, further cause the apparatus to determine the first format based on a type of financial parameter of the first parameter.

15. One or more computer readable media storing computer readable instructions that, when executed, cause an apparatus to:

receive, at a financial institution, data corresponding to a financial transaction;

generate a transaction record for the financial transaction;

determining whether a first parameter of the transaction record is formatted according to a first format, wherein the first format includes a predefined number of characters; and

in response to determining that the first parameter of the transaction record is not formatted according to the first format, automatically modify the first parameter to match the first format including the predefined number of characters.

16. The one or more computer readable media of claim 15, wherein determining that the first parameter is not formatted according to the first format includes determining that the first parameter includes a number of characters greater than the predefined number of characters;

and

wherein automatically modifying the first parameter to match the first format includes truncating the first parameter.

17. The one or more computer readable media of claim 15, wherein determining that the first parameter is not formatted according to the first format includes determining that the first parameter includes a number of characters less than the predefined number of characters;

and

wherein automatically modifying the first parameter to match the first format includes adding one or more characters to the first parameter.

18. The one or more computer readable media of claim 17, wherein the one or more characters include zeroes.

19. The one or more computer readable media of claim 15, wherein the computer readable instructions, when executed, further cause The one or more computer readable media to prompt for manual confirmation that the modification is correct upon automatically modifying the first parameter.

20. The one or more computer readable media of claim 15, wherein the computer readable instructions, when executed, further cause The one or more computer readable media to determine the first format based on a type of financial parameter of the first parameter.