SYSTEM AND METHOD FOR CORRESPONDENT BANK CUSTOMER ATM TRANSACTION PROCESSING

• US 20110251956A1
• Filed: 04/13/2010
• Published: 10/13/2011
• Est. Priority Date: 04/13/2010
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: England, Tony, Cantley, Kerry
• Granted Patent: US 8,301,565 B2
• Time in Patent Office: Days
• US Class Current: 705/43
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G07F 19/202 Depositing operations within ATMs depositing in general G07D11/00

Abstract

Systems and methods provide the customer of a correspondent bank, having a pre-arranged relationship with an ATM bank to use the ATM bank'"'"'s ATM network, with the opportunity to deposit funds via check or cash using the ATM bank'"'"'s ATM network. A correspondent bank profile and/or individual customer profiles are created and stored on the ATMs of the ATM bank and/or the backend system. The correspondent bank customer initiates a transaction with an ATM on the ATM network, is authenticated, and the ATM determines the customer is a customer of the correspondent bank. Based thereon, the ATM offers the customer the option to perform a deposit transaction. The ATM bank clears the deposited funds and sends transaction information to the correspondent bank including MICR data, check image, and transaction information. The transaction is settled through a demand deposit account owned by the correspondent bank and maintained by the ATM bank.

Claims

1. A method for providing a customer of a correspondent bank one or more correspondent relationship transactions at an automated teller machine (ATM) of an ATM bank having a pre-existing relationship with the correspondent bank defining the correspondent bank'"'"'s customer as pre-approved for performing correspondent relationship transactions at the ATM of the ATM bank, the method comprising:

verifying a user as a customer of the correspondent bank and thereby approving the customer for performing correspondent relationship transactions; and

performing one or more correspondent relationship transactions with the customer.

2. The method of claim 1 further comprising communicating transaction information corresponding to the one or more performed correspondent relationship transactions to the correspondent bank.

3. The method of claim 1 wherein the one or more correspondent relationship transactions comprises a deposit transaction.

4. The method of claim 3 wherein the deposit transaction comprises processing a check deposit.

5. The method of claim 1 further comprising storing a correspondent bank profile comprising information regarding the correspondent bank.

6. The method of claim 5 wherein the verifying the user comprises retrieving the information from the correspondent bank profile and comparing customer information with information retrieved from the correspondent bank profile.

7. The method of claim 6 wherein the customer information is provided to the ATM by a customer'"'"'s bank card.

8. The method of claim 1 further comprising storing an individual customer profile comprising information regarding the correspondent bank.

9. The method of claim 8 wherein the verifying the user comprises retrieving the information from the individual customer profile and comparing customer information with information retrieved from the individual customer profile.

10. The method of claim 9 wherein the customer information is provided to the ATM by a customer'"'"'s bank card.

11. The method of claim 4 further comprising validating the check to determine whether the check is an acceptable deposit.

12. The method of claim 11 further comprising storing transaction information corresponding to the check and the correspondent relationship transaction.

13. The method of claim 12 wherein the transaction information comprises one or both of image data and magnetic ink character recognition (MICR) data.

14. The method of claim 12 wherein the transaction information comprises one or more of transaction time, transaction date, transaction location.

15. The method of claim 11 further comprising validating the magnetic ink character recognition (MICR) data from the check at a backend system of the ATM bank.

16. The method of claim 1 further comprising creating a transaction record based at least in part on transaction information related to the correspondent relationship transaction.

17. The method of claim 16 further comprising decorating the transaction record with additional information related to the transaction.

18. The method of claim 16 wherein the creating the transaction record comprises creating a plurality of transaction records related to a plurality of correspondent relationship transactions, and wherein the method further comprises:

collecting any transaction records conforming to one or more sweep criteria;

building a correspondent bank transaction file; and

delivering the correspondent bank transaction file to the correspondent bank.

19. The method of claim 18 wherein the correspondent bank transaction file includes one or more appended image data file corresponding to one or more checks deposited by one or more correspondent bank customers.

20. The method of claim 18 further comprising charging a correspondent bank demand deposit account a correspondent relationship transaction fee based at least in part on the collected transaction records.

21. The method of claim 1 wherein the customer is the correspondent bank.

22. A computer program product for providing a customer of a correspondent bank one or more correspondent relationship transactions at an automated teller machine (ATM) of an ATM bank having a pre-existing relationship with the correspondent bank defining the correspondent bank'"'"'s customer as pre-approved for performing correspondent relationship transactions at the ATM of the ATM bank, the computer program product comprising a non-transitory computer readable memory comprising computer-executable instructions, the instructions comprising:

instructions for verifying a user as a customer of the correspondent bank and thereby approving the customer for performing correspondent relationship transactions; and

instructions for performing one or more correspondent relationship transactions with the customer.

23. The computer program product of claim 22 wherein the instructions further comprise communicating transaction information corresponding to the one or more performed correspondent relationship transactions to the correspondent bank.

24. The computer program product of claim 22 wherein the one or more correspondent relationship transactions comprises a deposit transaction comprising processing the deposited check.

25. The computer program product of claim 22 wherein the instructions further comprise storing a correspondent bank profile comprising information regarding the correspondent bank.

26. The computer program product of claim 23 wherein the instructions for verifying comprise:

instructions for retrieving the information from the correspondent bank profile and

instructions for comparing customer information with information retrieved from the correspondent bank profile.

27. The computer program product of claim 24 wherein the instructions further comprise instructions for validating the check to determine whether the check is an acceptable deposit.

28. The computer program product of claim 24 wherein the instructions further comprise instructions for storing transaction information corresponding to the check and the correspondent relationship transaction.

29. The computer program product of claim 24 wherein the instructions further comprise instructions for validating the magnetic ink character recognition (MICR) data from the check at a backend system of the ATM bank.

30. The computer program product of claim 22 wherein the instructions further comprise instructions for creating a transaction record based at least in part on transaction information related to the correspondent relationship transaction.

31. The computer program product of claim 30 wherein the instructions further comprise instructions for decorating the transaction record with additional information related to the transaction.

32. The computer program product of claim 30 wherein the instructions further comprise:

instructions for creating a plurality of transaction records related to a plurality of correspondent relationship transactions;

instructions for collecting any transaction records conforming to one or more sweep criteria;

instructions for building a correspondent bank transaction file; and

instructions for delivering the correspondent bank transaction file to the correspondent bank.

33. The computer program product of claim 32 wherein the correspondent bank transaction file includes one or more appended image data files corresponding to one or more checks deposited by one or more correspondent bank customers.

34. The computer program product of claim 32 wherein the instructions further comprise instructions for charging a correspondent bank demand deposit account a correspondent relationship transaction fee based at least in part on the collected transaction records.

35. A system for providing a customer of a correspondent bank one or more correspondent relationship transactions at an automated teller machine (ATM) of an ATM bank having a pre-existing relationship with the correspondent bank defining the correspondent bank'"'"'s customer as pre-approved for performing correspondent relationship transactions at the ATM of the ATM bank, the system comprising:

means for verifying a user as a customer of the correspondent bank and thereby approving the customer for performing correspondent relationship transactions; and

means for performing one or more correspondent relationship transactions with the customer.

36. The system of claim 35 further comprising:

means for storing a correspondent bank profile comprising information regarding the correspondent bank.

37. The system of claim 36 further comprising:

means for retrieving the information from the correspondent bank profile and

means for comparing customer information with information retrieved from the correspondent bank profile.

38. The system of claim 35 wherein the correspondent relationship transaction comprises processing a check deposit, and wherein the system further comprises means for validating the check to determine whether the check is an acceptable deposit.

39. The system of claim 35 further comprising:

means for creating a transaction record based at least in part on transaction information related to the correspondent relationship transaction.

40. The system of claim 39 further comprising:

means for decorating the transaction record with additional information related to the transaction.

41. The system of claim 35 further comprising:

means for creating a plurality of transaction records related to a plurality of correspondent relationship transactions;

means for collecting any transaction records conforming to one or more sweep criteria;

means for building a correspondent bank transaction file; and

means for delivering the correspondent bank transaction file to the correspondent bank.

42. A system comprising:

an automated teller machine (ATM) configured for providing a customer of a correspondent bank one or more correspondent relationship transactions, the ATM maintained by an ATM bank having a pre-existing relationship with the correspondent bank defining the correspondent bank'"'"'s customer as pre-approved for performing correspondent relationship transactions at the ATM of the ATM bank, the ATM further configured for;

verifying a user as a customer of the correspondent bank and thereby approving the customer for performing correspondent relationship transactions; and

performing one or more correspondent relationship transactions with the customer.

43. The system of claim 42 further comprising:

a backend system disposed remotely from the ATM and connected with the ATM across an ATM network, the backend system configured for storing a correspondent bank profile comprising information regarding the correspondent bank.

44. The system of claim 43 wherein:

the ATM is further configured for retrieving the information from the correspondent bank profile and

comparing customer information with information retrieved from the correspondent bank profile.

45. The system of claim 42 wherein the correspondent relationship transaction comprises processing a check deposit, and wherein:

the backend system is further configured for validating the check to determine whether the check is an acceptable deposit.

46. The system of claim 42 wherein:

the backend system is further configured for creating a transaction record based at least in part on transaction information related to the correspondent relationship transaction.

47. The system of claim 46 wherein:

The backend system is further configured for decorating the transaction record with additional information related to the transaction.

48. The system of claim 42 wherein the backend system is further configured for:

creating a plurality of transaction records related to a plurality of correspondent relationship transactions;

collecting any transaction records conforming to one or more sweep criteria;

building a correspondent bank transaction file; and

delivering the correspondent bank transaction file to the correspondent bank.

49. The system of claim 42 wherein the customer is the correspondent bank.