PAPER PAYMENT RECEIPT, PROCESSING AND FAILURE REMEDIATION

• US 20140330717A1
• Filed: 05/02/2013
• Published: 11/06/2014
• Est. Priority Date: 05/02/2013
• Status: Abandoned Application

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Felse, Mark D., Brennan, Theresa M. Jr., Fouts, Lawrence E., Furr, Dewayne A., Hall, John B., Hanshew, Michele N., Pinjani, Nidhi
• Application Number:
  US13/886,059
• Publication Number:
  US 20140330717A1
• Time in Patent Office: Days
• US Class Current: 705/42
• CPC Class Codes: G06Q 20/023 the neutral party being a clearing house
• CPC Class Codes: G06Q 20/0425 the cheque being electronic only
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/3221 Access to banking information through M-devices
• CPC Class Codes: G06Q 20/34 using cards, e.g. integrated circuit [IC] cards or magnetic cards
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules

Abstract

Apparatus for electronically notifying an individual of an incomplete transaction associated with a received correspondence item is provided. The apparatus may include a receiver for receiving a single paper correspondence item associated with a first correspondence. The apparatus may include a processor for deriving a digital image from the paper correspondence item. The processor may be configured to determine, based on the derived digital image, whether the correspondence item is a paper check. In response to the determination of the correspondence item as a paper check, the processor may be further configured to use a real-time notification channel to notify the individual of receipt of the paper check. The notification may be based, at least in part, on the identification of the individual. The processor may be further configured to use the real-time notification channel to present at least one option for identification of an account to which the check should be applied.

Claims

1. An article of manufacture comprising a non-transitory computer usable medium having computer readable program code embodied therein, the code when executed by a processor causes a computer associated with a financial institution to electronically notify an individual of a failure of a transaction associated with a received correspondence item, the computer readable program code in said article comprising:

computer readable program code for causing the computer to receive a paper correspondence item;

computer readable program code for causing the computer to derive a digital image from the correspondence item;

computer readable program code for causing the computer to identify, based on the derived digital image, whether the correspondence item is classified as one of a deposit, a payment or a legal order processing document, and to identify, based on the derived digital image of the correspondence item, the individual associated with the correspondence item;

computer readable program code for causing the computer to, in response to the classification of the correspondence item as one of the deposit, the payment or the legal order processing document, route the correspondence item to a sub-entity of the financial institution, said sub-entity being associated with a classification associated with the correspondence item;

computer readable program code for causing the computer to determine a failure associated with the transaction based, at least in part, on the identification of the individual and on a communication protocol associated with the sub-entity;

computer readable program code for causing the computer to use a real-time notification channel to notify the individual of receipt of the correspondence item based, at least in part, on the identification of the individual and on the communication protocol; and

computer readable program code for causing the computer to use the real-time communication to notify the individual of the failure;

wherein the real-time notification channel is a user-defined or system-set notification channel.

2. The article of claim 1 wherein the real-time notification channel is one of a group consisting of e-mail, text messaging and an automated telephone call.

3. The article of claim 1 wherein the notifying the individual further comprises prompting the individual to confirm receipt of the notification.

4. The article of claim 1 wherein the failure comprises a potential double payment to a single vendor.

5. The article of claim 1 wherein the failure comprises inclusion of an unsigned check with the correspondence item, and wherein a remediation comprises transmitting a pdf file, including a digital image of the unsigned check, to the individual via the real-time notification channel for endorsement by the individual.

6. The article of claim 1 wherein the failure comprises an overpayment.

7. The article of claim 1 wherein the failure comprises an underpayment.

8. Apparatus for receiving a correspondence item, processing the correspondence item, identifying a transaction associated with the correspondence item, and electronically notifying an individual associated with the correspondence item of a failure of a transaction associated with the correspondence item, the apparatus comprising:

a receiver configured to receive a paper correspondence item and to derive a digital image therefrom;

a processor configured to determine, based on the derived digital image, whether the correspondence item is classified as one of the deposit, the payment or the legal order processing document;

the processor being further configured to, in response to the determination of the classification of the correspondence item as one of a deposit, a payment or a legal order processing document, route the digital image of the correspondence item to a sub-entity of a financial institution, the sub-entity associated with the correspondence item; and

the processor being further configured to determine a failure associated with the transaction based, at least in part, on an identification of the individual, the identification being based on the derived digital image, and on a communication protocol associated with the sub-entity;

the processor further configured to use a real-time notification channel to notify the individual of receipt of the correspondence item based, at least in part, on the identification of the individual and on a communication protocol associated with the sub-entity; and

the processor further configured to use the real-time notification channel to notify the individual of the failure and present at least one option for remediation of the failure, the notification being based, at least in part, on the identification of the individual and the communication protocol.

9. The apparatus of claim 8 wherein the real-time notification channel is one of a group consisting of e-mail, text messaging and an automated telephone call.

10. The apparatus of claim 8, the processor being further configured to prompt the individual to confirm receipt of a notification of receipt of the correspondence item.

11. The apparatus of claim 8 wherein the failure comprises a potential double payment to a single vendor.

12. The apparatus of claim 8 wherein the failure comprises inclusion of an unsigned check with the correspondence item, and wherein the remediation comprises transmitting a pdf file, including a digital image of the unsigned check, to the individual via the real-time notification channel for endorsement by the individual.

13. The apparatus of claim 8 wherein the failure comprises an overpayment.

14. The apparatus of claim 8 wherein the failure comprises an underpayment.

15. One or more non-transitory computer-readable media storing computer-executable instructions which, when executed by a processor on a computer system, perform a method for electronically notifying an individual of an incomplete transaction associated with a received correspondence item, the method comprising:

receiving, by a receiver, a paper correspondence item associated with a first correspondence;

deriving, by a processor, a digital image from the paper correspondence item;

using the processor to determine, based on the derived digital image, whether the correspondence item is a paper check;

in response to the determination that the correspondence item is a paper check, using the processor to classify the correspondence item as a paper check and use a real-time notification channel to notify the individual of receipt of the paper check based, at least in part, on an identification of the individual, the identification of the individual being based, at least in part, on the derived digital image; and

using the real-time notification channel to present at least one option for identification of an account to which the check should be applied.

16. The media of claim 15, the method further comprising using the processor to route the digital image of the paper check to a sub-entity of a financial institution, the sub-entity being associated with the paper check;

wherein the routing of the digital image is based on a communication protocol associated with the sub-entity.

17. The media of claim 15, the method further comprising using the processor to prompt the individual to confirm receipt of a notification of receipt of the correspondence item.

18. The media of claim 15, wherein the paper check is received independent of a payment coupon.

19. The media of claim 15 wherein the paper check fails to identify an account number.

20. The media of claim 15, the method further comprising using the processor to present a plurality of accounts to the user for account selection.

21. The media of claim 15, the method further comprising using the processor to present a field to the user for inputting an account selection.