Electronic Payment Automated Reconciliation Platform
First Claim
Patent Images
1. A system for performing automated reconciliation in financial transactions, comprising:
- a. a server, further comprising multiple portals;
b. at least two transactors having access to the server by way of the portals, further comprising a payor and a payee;
c. a computer-readable program code, further comprising;
i. program code configured to initiate financial transactions;
ii. program code configured to store financial transaction information in a database;
iii. program code configured to transmit financial transaction information to transactors;
iv. program code configured to receive financial transaction information from transactors; and
v. program code configured to reconcile financial transactions based on the financial information provided by transactors.
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Accused Products
Abstract
The systems, methods and apparatus relate to transparent, unified financial transactions as a means of reducing inefficiency, fraud, and mistake. More specifically, the systems, methods, and apparatus address automated reconciliation of financial transactions, the establishment of a four-way reconciliation process and a unified and transparent escrow process.
10 Citations
20 Claims
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1. A system for performing automated reconciliation in financial transactions, comprising:
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a. a server, further comprising multiple portals; b. at least two transactors having access to the server by way of the portals, further comprising a payor and a payee; c. a computer-readable program code, further comprising; i. program code configured to initiate financial transactions; ii. program code configured to store financial transaction information in a database; iii. program code configured to transmit financial transaction information to transactors; iv. program code configured to receive financial transaction information from transactors; and v. program code configured to reconcile financial transactions based on the financial information provided by transactors. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A method for performing financial transactions, comprising:
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a. collecting financial transaction information from at least two transactors, further comprising a payor and a payee; b. providing transactor financial transaction information; and c. providing a computer utilizing software that through a series of steps creates a unified invoice and payment, wherein the payor'"'"'s payment and payee'"'"'s invoice are created simultaneously, such that each party is able to view the financial information of the transaction through the software. - View Dependent Claims (9, 10, 11, 12, 13)
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14. A computer program product for providing a financial transaction to transactors, the program comprising:
a. a computer readable medium having computer readable program code embodied therewith, the computer readable program code further comprising; i. computer readable program code configured to initiate financial transactions; ii. computer readable program code configured to store financial transaction information in a database; iii. computer readable program code configured to display financial transaction information to the transactors; iv. computer readable program code configured to receive financial transaction information from the transactors; and v. computer readable program code configured to reconcile financial transactions based on the financial information provided by transactors. - View Dependent Claims (15, 16, 17, 18, 19, 20)
Specification