Electronic check presentment system
First Claim
1. A check presentment system for use by a bank within an organization of banks to improve clearing of checks presented between partner banks within the organization, the system comprising:
- means for capturing check information from paper checks collected by a presenting bank and storing the information in a first database;
customer information file means for maintaining in a central file records on each partner bank participating in an electronic check clearing organization, the records including fields for storing an endpoint identification, and parameters relating to electronic check clearing;
data processing means responsive to the customer information file means, the data processing means extracting from the first database check information for check items to be presented to a selected partner bank in response to an endpoint identification of the selected partner bank and forming an electronic cash letter data file means, including check information, summary balances and information for identifying the particular cash letter; and
electronic means for transmitting the electronic cash letter to a partner bank for presentment of check items by means of the check information in the electronic cash letter.
8 Assignments
0 Petitions
Accused Products
Abstract
An Electronic Check Presentment System provides a bank with a fully automated capability for participating in the electronic exchange of check data. It allows banks that utilize the system to take MICR data that has been obtained through check capture methods, selectively extract particular check records and place them in the form of electronic cash letters, transfer the electronic cash letters to selected banks, receive electronic cash letters from other banks, reconcile the electronic cash letters against the paper cash letters when they arrive, and input the electronic MICR data into a database responsible for maintaining check records.
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Citations
46 Claims
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1. A check presentment system for use by a bank within an organization of banks to improve clearing of checks presented between partner banks within the organization, the system comprising:
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means for capturing check information from paper checks collected by a presenting bank and storing the information in a first database; customer information file means for maintaining in a central file records on each partner bank participating in an electronic check clearing organization, the records including fields for storing an endpoint identification, and parameters relating to electronic check clearing; data processing means responsive to the customer information file means, the data processing means extracting from the first database check information for check items to be presented to a selected partner bank in response to an endpoint identification of the selected partner bank and forming an electronic cash letter data file means, including check information, summary balances and information for identifying the particular cash letter; and electronic means for transmitting the electronic cash letter to a partner bank for presentment of check items by means of the check information in the electronic cash letter. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A check presentment system for use by a bank within an organization of banks to improve clearing of checks presented between partner banks within the organization while utilizing preexisting check processing systems, the system comprising:
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a check processing and capture system (CPCS), the CPCS including; means for magnetic ink charter recognition (MICR) for capturing check information from paper checks deposited by customers and received from a partner bank; data processing means for processing check information, the CPCS being modified to receive electronic check information; and mass data storage file means in which the captured check information is stored; data processing means for electronic check presentment, the data processing means including; file means for maintaining records on partner banks, the records including data identifying partner banks and parameters for electronic check presentment; send module means for extracting from the CPCS mass data storage file check information for transmission to a partner bank using identifying parameters from the file means, the send module formatting extracted check information according to a predefined format to form an electronic cash letter; and receive module means for preprocessing an electronic cash letter received from a presenting bank in order to provide for validation and balancing of the electronic cash letter, the receive module means providing the check information in the electronic cash letter to the CPCS for processing; and electronic communication means, coupled to the data processing means, for sending to and receiving from partner banks electronic cash letters. - View Dependent Claims (9, 10, 11, 16)
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12. An electronic check presentment system for managing, sending and receiving check information in the form of cash letters to and from banking systems, the system comprising:
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means for selecting check information for extraction from a designed database containing said check information wherein the selection specific comprises a specific bank or endpoint and a cash letter time; means responsive to said selecting means for extracting said selected check information in the form of electronic cash letters; means for transmitting and receiving said electronic cash letters to and from other computer databases handling such check information; means for reconciling the transmitted electronic cash letters against captured paper cash letters, wherein the reconciliation is accomplished by comparing the electronic cash letters against captured paper cash letters to determine discrepancies, and reporting any discrepancies to the electronic check presentment system; and means for controlling and maintaining records related to the transfer and receipt of said electronic cash letters, such information comprising routing transit numbers of the banks utilizing the electronic check presentment system, and dates and times related to specific transfers of electronic cash letters. - View Dependent Claims (13)
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14. A method for managing, sending and receiving check information in the form of electronic cash letters to and from banking systems, the method comprising the steps of:
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capturing paper cash letters in electronic cash letter form and storing them in a computer database; selecting specific banks or endpoints that are to receive electronic cash letters, the selected banks or endpoints being provided by an on-line computer database that provides information on banks utilizing this method such as the names, addresses, phone numbers, routing transit numbers and contacts associated with selected banks; extracting from said database those cash letters associated with said selected banks; transmitting to said selected banks the extracted cash letters; receiving electronic cash letters from transmitting banks and storing them in a computer database; and reconciling said electronic cash letters against captured paper cash letters. - View Dependent Claims (15)
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17. A method for use by a bank in an organization of banks to reduce the time for payment on checks collected by it and presented to a bank within the organization for payment, the method comprising the steps of:
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maintaining an information file for partner banks in an organization of banks, the information file on partner banks including maintaining data identifying the banks and benefit sharing parameters; capturing check information from paper checks collected at the bank and storing the check information in a first database as check records; selecting an endpoint bank from the information file; extracting from the first database check records for the selected bank; formatting according to predetermined format the extracted check records into an electronic cash letter for transmission to the selected bank. - View Dependent Claims (18, 19, 21, 22, 23)
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20. A method for use by a bank in an organization of banks to reduce the time for payment on checks collected by it and presented to a bank within the organization for payment, the method comprising the steps of:
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maintaining an information file for partner banks in an organization of banks; capturing check information from paper checks collected at the bank and storing the check information in a first database as check records; selecting an endpoint bank from the information file; extracting from the first database check records for the selected bank; formatting the extracted check records into an electronic cash letter for transmission to the selected bank; wherein the step of selecting includes the step of selecting from the information file a bank; and
wherein the step of extracting further includes reading from a second database storing kill bundle information with which to extract check records from the first database for transmission to endpoints automatically selected from the information file.
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24. A method of processing an electronic cash letter received from a bank for expedited clearing of checks, the method comprising the steps of:
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receiving an electronic cash letter file from a sending bank containing check records; preprocessing the electronic cash letter file, the step of preprocessing including the steps of validating the electronic cash letter, checking for duplicate check items, balancing dollar amounts, and formatting for conforming to check processing and capture system (CPCS); capturing the electronic check records with a CPCS; posting the check records to a demand deposit accounting system; capturing check information from paper checks in a subsequently received paper cash letter corresponding to the electronic cash letter; and reconciling the check records in the electronic cash letter with the captured check information and sorting the paper checks according to DDA cycles assigned during the capturing of the electronic check records. - View Dependent Claims (25)
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26. A check presentment system for use by a bank without an organization of banks to improve clearing of checks presented between partner banks within the organization, the system comprising:
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means for capturing check information from paper checks collected by a presenting bank and storing the information in a first database; customer information file means for maintaining records identifying partner banks participating in an electronic check clearing organization and parameters relating to electronic check clearing; data processing means responsive to the customer information file means, the data processing means extracting from the first database check information for check items to be presented to a selected partner bank and forming an electronic cash letter data file means, including check information and summary balances;
the data processing means generating expected benefit reporting; andelectronic means for transmitting the electronic cash letter to a partner bank for presentment of check items by means of the check information in the electronic cash letter.
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27. A method on a data processing system for use by a bank in an organization of banks to reduce the time for payment on checks collected by it and presented to a bank within the organization for payment, the method comprising the steps of:
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extracting bank item records from a first database storing item information captured from paper items collected at the bank to be presented to a selected endpoint; maintaining a file on the data processing system on item records extracted; and formating the extracted item records into an electronic cash letter file for transmission to the selected endpoint, the electronic cash letter including item records and summary information on the item records. - View Dependent Claims (28, 29, 30, 31, 32)
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33. A method on a data processing system for use by a bank in an organization of banks to reduce the time for payment on checks collected by it and presented to a bank within the organization for payment, the method comprising the steps of:
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receiving an electronic cash letter file from a sending bank containing electronic check records; maintaining an electronic control file containing information on check records received in the electronic cash letter and subsequent processing of the check records; communicating the electronic check records in the electronic cash letter file to a posting system; passing the paper checks subsequently received within a paper cash letter corresponding to the electronic check records within an electronic cash letter through a check capture system and capturing paper check records and placing them in an electronic file; and reconciling by comparing the check records in the electronic cash letter file with the paper check records captured from paper checks, placed in the electronic file. - View Dependent Claims (34, 35, 36, 37, 38)
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39. A method on a data processing system for use by a bank in an organization of banks to reduce the time for payment on checks collected by it and presented to a bank within the organization for payment, the method comprising the steps of:
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selecting an endpoint for presentment of items for payment; extracting check records to be presented to the selected endpoint from a first database storing item information captured from paper items collected at the bank; maintaining a file on the check records extracted; formatting the extracted check records into an electronic cash letter of electronic check records for transmission to the selected endpoint; receiving an electronic cash letter file from a sending bank containing electronic check records; posting electronic check records in the electronic cash letter file; reconciling with the data processing system the check records in the electronic cash letter file with check information captured from paper checks in a subsequently received paper cash letter corresponding to the electronic cash letter; and maintaining a control file means on the data processing system responsive to the steps of extracting check records and receiving electronic cash letters, the control file means keeping track of check records sent and received.
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40. A method of reconciling an electronic cash letter that has been posted with a subsequently received paper cash letter comprising the steps of:
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updating with a data processing system electronic check records received in the electronic cash letter with posting information; passing a paper cash letter through a check capture system and capturing check records; matching with a data processing system the electronic check records with the paper check records; updating with a data processing system matched check records with posting information and ordering matched and unmatched check record files in an order in which the paper checks were captured; and passing the paper checks through a sorter in the order they first passed through the check capture system and sorting the paper checks into pockets according to the posting information associated with the matched check records.
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41. A check presentment system for use by a bank within an organization of banks to improve clearing of checks presented between partner banks within the organization, the system comprising:
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electronic means for receiving an electronic cash letter transmitted from a partner bank; data preprocessing means for validating the partner bank, the data preprocessing means further balancing the electronic cash letter and formatting the electronic cash letter for providing check information to a means for capturing check information; and data processing means for reconciling check information received from the partner bank in the electronic cash letter against check information received in a paper cash letter sent by the partner bank that corresponds to the electronic cash letter. - View Dependent Claims (42, 43)
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44. A method on a data processing system for use by a bank to reduce the time for payment on checks collected by it and presented to a partner bank or payment, the method comprising the steps of:
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maintaining a central information file on a data processing system, the central information file containing information particular to each partner bank with whom the bank engages in presenting checks electronically, the information including routing and transit numbers of each bank and formats of electronic cash letters preferred by the partner bank; extracting with the data processing system, in response to a routing and transit number of a selected bank, bank item records from a database storing item records captured from paper items collected at the bank to be presented to the selected bank; and formatting with the data processing system, in response to the information on formatting, the extracted item records into an electronic cash letter file for transmission to the selected bank in an electronic cash letter format preferred by the selected bank, the electronic cash letter including item records and summary information on the item records. - View Dependent Claims (45, 46)
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Specification