MOBILE CHECK ISSUE CAPTURE SYSTEM AND METHOD

• US 20140241609A1
• Filed: 02/27/2013
• Published: 08/28/2014
• Est. Priority Date: 02/27/2013
• Status: Active Grant

• Current Assignee: Bottomline Technologies Incorporated
• Original Assignee: Bottomline Technologies Incorporated
• Inventors: Vigue, Michael, Mallean, Sean, Cheney, Jessica
• Granted Patent: US 9,406,053 B2
• Time in Patent Office: Days
• US Class Current: 382/138
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque

Abstract

A system and method is presented for assembling information contained within a financial instrument for subsequent verification of the financial instrument, wherein the financial instrument includes an identifier corresponding to a payee of the financial instrument. An imaging device, such as, for example, a mobile phone or the like, is used to obtain an image of the financial instrument prior to the financial instrument being transferred to the payee. Information is extracted from the image of the financial instrument, and the information is transferred to a storage area that is separate and remote from the imaging device.

Claims

1. A system for assembling information contained within a financial instrument for subsequent verification of the financial instrument, the financial instrument including an identifier corresponding to a payee of the financial instrument, comprising:

an information generation device, comprising

an image capture device configured to capture an image of an object, and

a first communication circuit configured to communicate the extracted information over a network; and

a verification device remote from the information generation device, the verification device comprising

a second communication circuit configured to communicate with the first communication circuit over a network, and

a database for storing information corresponding to financial instruments, said information for use during a subsequent verification process, wherein the verification device is configured to at least one of

i) receive from the information generation device information extracted from an image of the financial instrument and store the extracted information in the database, said image captured prior to transfer of the financial instrument to the payee, or

ii) receive an image of the financial instrument captured from the information generation device, extract information from the image, and store the extracted information in the database, said image captured prior to transfer of the financial instrument to the payee.

2. The system according to claim 1, wherein the verification device is configured to perform a verification process upon the financial instrument being presented for payment, said verification process comprising comparing information on the financial instrument as presented for payment with corresponding information stored in the database and obtained prior to transfer of the financial instrument to the payee.

3. The system according to claim 1, wherein the verification device comprises a verification device of a financial institution.

4. The system according to claim 1, wherein the verification device comprises an intermediate storage area independent from a payer of the financial instrument and a financial institution in which the payer has an account.

5. The system according to claim 1, wherein the information capture device comprises a mobile phone.

6. The system according to claim 1, wherein the information generation device or the verification device comprises a data extraction circuit configured to extract information from an image of a financial instrument captured.

7. The system according to claim 6, wherein the data extraction circuit is configured to extract at least one of a payment amount, a payment date, a payee name, an account number, a routing number or a check number.

8. The system according to claim 1, wherein the information generation device is configured to assemble extracted information into a container.

9. The system according to claim 8, wherein the information generation device is configured to assemble the extracted information into a container having the form of a file.

10. A method for assembling information contained within a financial instrument for subsequent verification of the financial instrument, the financial instrument including an identifier corresponding to a payee of the financial instrument, the method comprising:

using an imaging device to obtain an image of the financial instrument, said image obtained prior to transferring the financial instrument to the payee;

extracting information from the image of the financial instrument; and

transferring the extracted information to a storage area, wherein the storage area is separate and remote from the imaging device.

11. The method according to claim 10, wherein transferring the extracted information to the storage area comprises transferring the information to a financial institution in which a payer of the financial instrument has an account.

12. The method according to claim 10, wherein transferring the extracted information to the storage area comprises transferring the information to an intermediate storage area independent from a payer of the financial instrument and a financial institution in which the payer has an account.

13. The method according to claim 10, wherein using an imaging device comprises using a hand-held mobile device to obtain the image of the financial instrument.

14. The method according to claim 10, wherein obtaining the optical image of the financial instrument comprises obtaining a photographic image of the financial instrument.

15. The method according to claim 10, wherein extracting the information comprises extracting at least one of a payment amount, a payment date, a payee name, an account number, a routing number or a check number.

16. The method according to claim 10, wherein extracting the information comprises assembling the information into a container.

17. The method according to claim 16, wherein assembling the information into a container comprises storing the extracted information in a file.

18. The method according to claim 10, wherein transferring the extracted information to the financial institution comprises transferring the information to the financial institution via an internet connection.

19. The method according to claim 10, further comprising storing the extracted financial information in a database.

20. The method according to claim 19, further comprising:

upon the financial instrument being tendered, retrieving from the database information corresponding to the tendered financial instrument;

comparing the retrieved information to information on the tendered financial instrument; and

making payment or denying payment based on the comparison.