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Automatic recognition of periods for financial transactions

  • US 5,918,216 A
  • Filed: 08/22/1996
  • Issued: 06/29/1999
  • Est. Priority Date: 08/22/1996
  • Status: Expired due to Term
First Claim
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1. A computer implemented method for recognizing a recurring financial transaction, comprising the steps of:

  • (a) entering a plurality of parameters of a financial transaction into the computer as a new entry in a transactions database;

    (b) searching for at least two prior entries in the transactions database having selected parameters that are substantially similar to corresponding parameters of the new entry; and

    (c) if said at least two prior entries are found;

    (i) determining time intervals between successive ones of said at least two prior entries and said new entry; and

    (ii) comparing the time intervals with a plurality of different predetermined time periods to identify any recurring financial transaction, each of the different predetermined time periods corresponding to a recurring financial transaction at a different time interval.

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