Method and system for remote delivery of retail banking services

• US 7,076,458 B2
• Filed: 02/22/2001
• Issued: 07/11/2006
• Est. Priority Date: 12/08/1989
• Status: Expired due to Fees

• Current Assignee: Official Payments Corporation (ACI Worldwide Incorporated)
• Original Assignee: Online Resources Corp.
• Inventors: Lawlor, Matthew P., Carmody, Timothy E.
• Primary Examiner(s): Hamilton, Lalita M
• Application Number:
  US09/789,534
• Publication Number:
  US 20020038289A1
• Time in Patent Office: 1,965 Days
• Field of Search: 705/35, 705/43, 705/39, 705/40, 705/42
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/16 Payments settled via telecommunication systems
• CPC Class Codes: G06Q 20/18 involving self-service terminals [SST], vending machines, kiosks or multimedia terminals
• CPC Class Codes: G06Q 30/0255 based on user history
• CPC Class Codes: G06Q 30/0273 Determination of fees for advertising
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: H04M 17/02 Coin-freed or check-freed systems , e.g. mobile- or card-operated phones, public telephones or booths

Abstract

A practical system and method for the remote distribution of financial services (e.g., home banking and bill-paying) involves distributing portable terminals to a user base. The terminals include a multi-line display, keys “pointing to” lines on the display, and additional keys. Contact is established between the terminals and a central computer operated by a service provider, preferably over a dial-up telephone line and a packet data network. Information exchange between the central computer and the terminal solicits information from the terminal user related to requested financial services (e.g., for billpaying, the user provides payee selection and amount and his bank account PIN number). The central computer then transmits a message over a conventional ATM network debiting the user'"'"'s bank account in real time, and may pay the specified payees the specified amount electronically or in other ways as appropriate. Payments and transfers may be scheduled in advance or on a periodic basis. Because the central computer interacts with the user'"'"'s bank as a standard POS or ATM network node, no significant software changes are required at the banks'"'"' computers. The terminal interface is extremely user-friendly and incorporates some features of standard ATM user interfaces so as to reduce new user anxiety.

Claims

1. A system for handling delivery of at least one electronic service to multiple remote users through use of (a) an interbank financial services network connected to multiple financial institutions, and (b) a telecommunications network, the remote users being located at a home or office, the system including:

a communications device receiving, from remote users'"'"' homes or offices over the telecommunications network, at least one digital service request message requesting a service to be fulfilled, said digital service request message including a digitally encoded electronic service request and associated digitally encoded user identifying information;

a processing arrangement coupled to the communications device, the processing arrangement generating an Automatic Teller Machine (ATM) network compatible request message based at least in part on the received service request message and said associated digitally encoded user identifying information,

said processing arrangement communicating with the interbank financial services network, the processing arrangement applying the generated ATM network compatible request message to said interbank financial services network so as to route the ATM network compatible request message to a selected one of said multiple financial institutions and effect a real time debit or credit financial transaction at said selected financial institution so as to shift liability to said selected financial institution in real time.

2. The system of claim 1 wherein said processing arrangement accomplishes funds settlement by electronically communicating payment data across a network of electronic lockboxes.

3. The system of claim 1 wherein said processing arrangement inserts an ATM compatible, DES encrypted personal identification number (PIN) into the ATM network compatible request message.

4. The system of claim 1 wherein the communications device receives an ATM compatible personal identification number (PIN) from the remote user.

5. The system of claim 1 wherein:

the communications device receives an ATM compatible personal identification number (PIN) from the remote user; and

the processing arrangement inserts the received ATM compatible personal identification number (PIN) into the ATM network compatible request message.

6. The system of claim 1 wherein the system communicates concurrently with multiple remote users.

7. The system of claim 6 wherein said multiple remote users have computing equipment local thereto, the communications device communicates with said computing equipment through the telecommunications network, and the processing arrangement generates at least one service request message at least in part under control of software executed by the computing equipment local to the multiple remote users.

8. The system of claim 6 wherein the remote users use remote terminals to access the system, and the processing arrangement generates at least one service request message in response, at least in part, to encryption performed within the multiple remote terminals.

9. The system of claim 8 wherein at least one of the remote terminals has a modem associated therewith, and the communications device receives at least one message through said modem associated with at least one of the multiple remote terminals.

10. The system of claim 1 wherein the communications device receives at least one service request message from a screen phone associated with a remote user.

11. The system of claim 1 wherein the communications device receives at least one service request message generated in real time interactive response, at least in part, to depression of soft keys disposed adjacent to lines of a display.

12. The system of claim 1 wherein the communications device receives at least one message at least in part over a dial up telephone line.

13. The system of claim 1 wherein the processing arrangement facilitates a real time debit of a bank account within said selected financial institution and a transfer of funds resulting therefrom over said interbank financial services network in response to at least one message the processing arrangement applies to the interbank financial services network.

14. The system of claim 1 wherein the processing arrangement facilitates a real time credit of a bank account within said selected financial institution and a transfer of funds resulting therefrom over said interbank financial services network in response to at least one message the processing arrangement applies to the interbank financial services network.

15. The system of claim 1 wherein the requested service to be fulfilled is bill payment, and said system further includes a computer-based bill pay system that pays at least one bill on behalf of said remote user.

16. The system of claim 1 wherein said communications device and said processing arrangement are operated by a third party bill payer different from said multiple financial institutions, and said system further includes a third party bill pay system that pays bills from funds debited in real time from said selected financial institution via the interbank financial services network.

17. The system of claim 1 wherein said real time debit or credit is effected at a further processing arrangement different from said first-mentioned processing arrangement.

18. An integrated financial services delivery platform enabling access or transactions via a data communications network by remote users operating user interface devices from their homes or offices, said platform comprising:

a data communications facility connected to (a) an interbank real-time financial transaction network connecting multiple financial institutions, and (b) said data communications network, said data communications facility receiving remote user originated digitally-encoded financial service requests via the data communications network;

a financial transactions processor coupled to the data communications facility, the financial transactions processor processing said digitally-encoded financial service requests and generating, in response to receipt of at least some of said received financial service requests, Automatic Teller Machine (ATM) network compatible debit and/or credit request messages directed to selected ones of said multiple financial institutions;

said data communications facility applying the generated ATM network compatible debit and/or credit request messages to said interbank financial transaction network to effect a real time debit or credit of funds and shift liability for at least part of said financial transaction to said selected ones of said financial institutions in real time.

19. The platform of claim 18 wherein the financial service requests include transferring funds between financial institutions in real time over the interbank financial transaction network.

20. The platform of claim 18 wherein said processor sends computer screen displays to the remote users over the data communications network for display on said remote user interface devices, said computer screens listing different financial services, said remote users choosing between said different financial services by selecting items positionally associated with said listing.

21. The platform of claim 20 wherein said items comprise push buttons.

22. The platform of claim 18 wherein said financial transactions processor logs said remote users.

23. The platform of claim 18 wherein said financial transactions processor delivers advertisements targeted to said remote users over said data communications network.

24. The platform of claim 18 wherein said financial transactions processor collects user demographic information based on said financial service requests.

25. The platform of claim 18 wherein said financial service requests include a request for a user to be contacted via telephone by a customer service representative.

26. The platform of claim 18 wherein said financial request include scheduling a financial transaction at a future time.

27. The platform of claim 18 wherein said financial requests include scheduling a financial transaction to be performed periodically.

28. The platform of claim 18 wherein said financial transactions processor distinguishes between different users operating the same user interface device.

29. The platform of claim 18 wherein said transaction is PINless.

30. The platform of claim 18 wherein said transaction is performed without requesting an account holder to input an ATM-compatible personal identification number.

31. The platform of claim 18 wherein said transaction is performed by requesting an account holder to input an ATM-compatible personal identification number.

32. The platform of claim 18 further including computing devices operated by said remote user bank account holders in their homes and/or offices, and said financial transaction processor generates ATM network compatible debit and/or credit messages that, when applied to said interbank financial transaction network, causes said bank accounts of said remote users to be credited and/or debited substantially in real time.

33. The platform of claim 18 wherein said transaction is performed without a card being present.

34. The platform of claim 18 wherein said transaction is performed without inputting an account number from a card.

35. The platform of claim 18 wherein said transaction is initiated other than by reading an ATM card.

36. The platform of claim 18 wherein said interface devices comprise home computing devices.

37. The platform of claim 18 wherein said interface devices are disposed in said remote users'"'"' homes.

38. The platform of claim 18 wherein said interface devices are operated by users whose financial transaction accounts are debited by said transactions.

39. The platform of claim 18 wherein said financial service requests include at least two of the following:

comparative mortgage quotes,

comparative certificate of deposit quotes,

bill payment,

loan requests,

family budgeting tools,

tax planning,

insurance services, and

transfer of funds between different financial institutions.

40. The platform of claim 18 further including an encryptor that encrypts said digitally encoded financial service requests.

41. The platform of claim 18 wherein said processor allows said remote users to schedule future recurring bill payments.

42. The platform of claim 18 further including user interface devices having both voice and data transmission capabilities.

43. The platform of claim 18 further including user interface devices including a display that displays screens comprising multiple text lines, users requesting display of additional predetermined screens by selecting different ones of said displayed text lines.

44. The platform of claim 18 wherein said transactions are performed without requiring presentation of cards to said interface devices.

45. The platform of claim 18 wherein at least some of said transactions result in storing value on a card.

46. The platform of claim 18 wherein at least some of said transactions result in downloading value onto a debit card for use in purchasing goods.

47. The platform of claim 18 wherein at least some of said transactions dispense electronic cash onto a card.

48. The platform of claim 18 wherein said access or transactions do not require physical presentation of financial transaction cards to said user interface devices.

49. The platform of claim 18 wherein said platform authenticates end users based at least in part on use of hardware customized based at least in part on the user'"'"'s identity.

50. The platform of claim 49 wherein said customized hardware comprises a user-customized terminal.

51. The platform of claim 49 wherein said customized hardware includes non-volatile memory device containing user identification information.

52. The platform of claim 49 wherein said customized hardware includes an encryptor.

53. The platform of claim 49 wherein said customized hardware includes a processor that performs an authentication function.

54. An integrated financial services delivery platform enabling access via a data communications network by remote users operating user interface devices from their homes and/or offices, said platform comprising:

data communications means connected to (a) an interbank real-time financial transaction network connecting multiple financial institutions, and (b) said data communications network, said data communications means for receiving digitally-encoded financial service requests from said remote users via the data communications network;

financial transactions processing means coupled to the data communications means, the financial transactions processor for processing said digitally-encoded financial service requests and generating, in response to at least some of said received financial service requests, Automatic Teller Machine (ATM) network compatible debit and/or credit request messages directed to selected ones of said multiple financial institutions;

said data communications means also for applying the generated ATM network compatible request messages to said interbank financial transaction network to effect a real time debit or credit of funds and shift liability for at least part of said financial transaction to said selected financial institutions in real time,

wherein said processing means effects transfer of funds from a first account in a first financial institution to a second account in a second financial institution different from said first financial institution at least in part through application of an ATM network compatible request message to said interbank financial transaction network.

55. The platform of claim 54 wherein said processing means enables financial service requests including at least three of:

comparative mortgage quotes,

comparative certificate of deposit quotes,

bill payment,

loan requests,

family budgeting tools,

tax planning, and

insurance services.

56. A method of delivering financial services to remote users from their homes or offices, said remote users operating user interface devices communicating at least in part through a data communications network, said method comprising:

receiving digitally-encoded financial service requests from said remote users via the data communications network;

generating, in response to at least some of said received financial service requests, Automatic Teller Machine (ATM) network compatible debit request messages directed to selected ones of said multiple financial institutions;

applying the generated ATM network compatible debit request messages to an interbank real-time financial transaction network connecting multiple financial institutions to effect a real time debit of funds and shift liability for at least part of said financial transaction to said selected ones of said financial institutions in real time, said applied messages stimulating said financial transaction network to propagate response messages indicating whether said real-time debits were successful;

conditioned on receipt of said propagated responses indicating successful real-time debits of funds, issuing paper checks for paying out at least part of said successfully debited funds; and

delivering said issued paper checks.