Method and system for duplicate commercial paper detection
First Claim
Patent Images
1. A method for detecting duplicate commercial paper transactions comprising:
- receiving an authenticated commercial paper transaction with a check identification code, the check identification code comprising a plurality of fields and the commercial paper transaction authenticated using a first hash value based on at least a portion of the plurality of fields;
updating the check identification code because of processing of the received transaction;
determining a second hash value based on at least a portion of the updated check identification code;
communicating the second hash value to a repository storing a plurality of hash values, each hash value associated with one authenticated commercial paper transaction;
if the repository does not include the second hash value as one of the plurality of hash values, authenticating the processed commercial paper transaction; and
if the repository includes the second hash value as one of the plurality of hash values, identifying the processed commercial paper transaction as a duplicate.
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Abstract
In one embodiment, software for detecting duplicate commercial paper transactions implements a method to identify a check identification code, such as a Magnetic Ink Character Recognition (MICR) code, from a commercial paper transaction, with the check identification code comprising a plurality of fields. The software determines a hash value based on at least a portion of the plurality of fields and verifies the authenticity of the MICR code based, at least in part, on the determined hash value.
147 Citations
29 Claims
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1. A method for detecting duplicate commercial paper transactions comprising:
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receiving an authenticated commercial paper transaction with a check identification code, the check identification code comprising a plurality of fields and the commercial paper transaction authenticated using a first hash value based on at least a portion of the plurality of fields; updating the check identification code because of processing of the received transaction; determining a second hash value based on at least a portion of the updated check identification code; communicating the second hash value to a repository storing a plurality of hash values, each hash value associated with one authenticated commercial paper transaction; if the repository does not include the second hash value as one of the plurality of hash values, authenticating the processed commercial paper transaction; and if the repository includes the second hash value as one of the plurality of hash values, identifying the processed commercial paper transaction as a duplicate. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. An image capture system for detecting duplicate commercial paper transactions operable to:
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receive an authenticated commercial paper transaction with a check identification code, the check identification code comprising a plurality of fields and the commercial paper transaction authenticated using a first hash value based on at least a portion of the plurality of fields; update the check identification code because of processing of the received transaction; determine a second hash value based on at least a portion of the updated check identification code; communicate the second hash value to a repository storing a plurality of hash values, each hash value associated with one authenticated commercial paper transaction; if the repository does not include the second hash value as one of the plurality of hash values, authenticate the processed commercial paper transaction; and if the repository includes the second hash value as one of the plurality of hash values, identify the processed commercial paper transaction as a duplicate. - View Dependent Claims (9, 10, 11, 12, 13)
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14. A method for detecting duplicate commercial paper transactions comprising:
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identifying a check identification code from a commercial paper transaction, the check identification code comprising a plurality of fields; determining a first hash value based on at least a portion of the plurality of fields; communicating the first hash value to a repository storing a plurality of hash values, each hash value associated with an authenticated commercial paper transaction; if the repository includes the first hash value as one of the plurality of hash values, identifying the commercial paper transaction as a duplicate; if the repository does not include the first hash value as one of the plurality of hash values; authenticating the commercial paper transaction; and communicating the authenticated transaction to a financial institution, the financial institution operable to update the check identification code based on transaction processing and to authenticate the processed transaction using a second hash value based on at least a portion of the updated check identification code. - View Dependent Claims (15, 16, 17, 18, 19, 20, 21)
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22. A commercial paper processing system for detecting duplicate commercial paper transactions operable to:
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identify a check identification code from a commercial paper transaction, the check identification code comprising a plurality of fields; determine a first hash value based on at least a portion of the plurality of fields; communicate the first hash value to a repository storing a plurality of hash values, each hash value associated with an authenticated commercial paper transaction; if the repository includes the first hash value as one of the plurality of hash values, identify the commercial paper transaction as a duplicate; if the repository does not include the first hash value as one of the plurality of hash values; authenticate the commercial paper transaction; and communicate the authenticated transaction to a financial institution, the financial institution operable to update the check identification code based on transaction processing and to authenticate the processed transaction using a second hash value based on at least a portion of the updated check identification code. - View Dependent Claims (23, 24, 25, 26, 27, 28, 29)
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Specification