Systems and methods for prioritizing reconcilement information searches

• US 7,347,362 B2
• Filed: 08/31/2006
• Issued: 03/25/2008
• Est. Priority Date: 12/23/2003
• Status: Active Grant

• Current Assignee: First Data Corporation (Fiserv Incorporated)
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Shankar, Sharat, Tidwell, Lisa C., Templeton, Randy, Michelassi, Leslie
• Primary Examiner(s): ST CYR, DANIEL
• Application Number:
  US11/513,795
• Publication Number:
  US 20070000994A1
• Time in Patent Office: 572 Days
• Field of Search: 235/379, 235/380, 235/382, 235/383, 235/385
• US Class Current: 235/380
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/4016 involving fraud or risk level assessment in transaction processing
• CPC Class Codes: G06Q 20/403 Solvency checks
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

Systems and methods are disclosed for assisting a check-cashing entity to efficiently and accurately locate relevant positive pay information or other reconcilement information regarding a check or other negotiable instrument that has been presented in association with a request to cash, deposit, use as payment or other otherwise accept the check or negotiable instrument. In various embodiments, when a plurality of potentially useful reconcilement information sources are selected for querying in association with a proposed check-cashing transaction from amongst a set of available reconcilement information sources, factors relating to the transaction, factors relating to characteristics of the information sources, and factors relating to preferences on the part of the check-cashing entity may be considered in order to select and prioritize the querying of information sources that are deemed likely to hold desired reconcilement information.

Claims

1. A process for selecting at least one source of positive pay information to query in association with a proposed check-cashing transaction, the process comprising:

receiving a request from a check-cashing entity for positive pay authentication for a check presented to the check-cashing entity in association with a proposed check-cashing transaction;

identifying a plurality of available positive pay information sources;

accessing information, wherein the information is at least one of the set consisting of;

characteristics of the available positive pay information sources;

characteristics of the proposed check-cashing transaction; and

preferences of the check-cashing entity; and

determining, based at least in part on the accessed information, which of the available positive pay information sources are more likely to store positive pay information about the check; and

selecting, based at least in part on the request received from the check-cashing entity and the determination, at least one of the available positive pay information sources to query earlier than the other of the available positive pay information sources.

2. The process of claim 1, wherein identifying the plurality of available positive pay information sources comprises identifying a plurality of available positive pay information sources associated with at least one of the set consisting of:

payroll checks, payroll check cards, government checks, government check cards, insurance checks, personal checks, personal check cards, other types of check cards, checks issued by a given payroll processor, checks issued in a given geographical region, money orders, and checks drawn on accounts in a given financial institution.

3. The process of claim 1, wherein identifying the plurality of available positive pay information sources comprises identifying a plurality of available positive pay information sources that store information about checks associated with a payroll processor associated with the check.

4. The process of claim 1, wherein identifying the plurality of available positive pay information sources comprises identifying a plurality of available positive pay information sources that store information about checks issued from an account associated with the check.

5. The process of claim 1, wherein accessing information about the available positive pay information sources comprises accessing, for at least one of the available positive pay information sources, information about at least one of the set consisting of:

cost associated with accessing the information source, a typical response speed of the information source, an assessment of the reliability of information received from the information source, a size of the information source, a type of the information source, and a location associated with the information source.

6. The process of claim 1, wherein accessing information about characteristics of the proposed check-cashing transaction comprises obtaining information about at least one of the set consisting of:

an amount associated with the check, a check type associated with the check, a date associated with the proposed check-cashing transaction, a time associated with the proposed transaction, a location associated with the transaction, and an entity type associated with the check-cashing entity.

7. The process of claim 1, wherein accessing information about preferences of the check-cashing entity comprises accessing information about at least one of the set consisting of:

a risk tolerance level of the check-cashing entity, an authentication process speed preference of the check-cashing entity, and an authentication process cost preference of the check-cashing entity.

8. The process of claim 1, wherein selecting at least one of the available positive pay information sources to query comprises selecting at least one positive pay information source that satisfies preferences expressed by the check-cashing entity.

9. The method of claim 1, further comprising:

querying at least one of the selected positive pay information sources for positive pay information associated with the proposed check-cashing transaction;

receiving from the at least one positive pay information sources queried at least one positive pay status report associated with the proposed check-cashing transaction; and

based at least in part on the at least one positive pay status report received, selecting at least one of the available positive pay information sources that has not been queried, to query for additional positive pay information associated with the proposed check-cashing transaction.

10. A check authentication system comprising:

one or more computer processors configured to receive a request from a check-cashing entity for positive pay authentication for a check presented to the check-cashing entity in association with a proposed check-cashing transaction;

one or more computer processors configured to identify a plurality of available positive pay information sources;

one or more computer processors configured to access information, wherein the information is at least one of the set consisting of;

characteristics of the available positive pay information sources;

characteristics of the proposed check-cashing transaction; and

preferences of the check-cashing entity; and

one or more computer processors configured to determine, based at least in part on the accessed information, which of the available positive pay information sources are more likely to store positive pay information about the check; and

one or more computer processors configured to select, based at least in part on the request received from the check-cashing entity and the determination, at least one of the available positive pay information sources to query earlier than the other of the available positive pay information sources.

11. The system of claim 10, wherein the one or more computer processors configured to identify the plurality of available positive pay information sources comprises one or more computer processors configured to identify a plurality of available positive pay information sources associated with at least one of the set consisting of:

payroll checks, payroll check cards, government checks, government check cards, insurance checks, personal checks, personal check cards, other types of check cards, checks issued by a given payroll processor, checks issued in a given geographical region, money orders, and checks drawn on accounts in a given financial institution.

12. The system of claim 10, wherein the one or more computer processors configured to identify the plurality of available positive pay information sources comprises one or more computer processors configured to identify a plurality of available positive pay information sources that store information about checks associated with a payroll processor associated with the check.

13. The system of claim 10, wherein the one or more computer processors configured to identify the plurality of available positive pay information sources comprises one or more computer processors configured to identify a plurality of available positive pay information sources that store information about checks issued from an account associated with the check.

14. The system of claim 10, wherein the one or more computer processors configured to access information about the available positive pay information sources comprises one or more computer processors configured to access, for at least one of the available positive pay information sources, information about at least one of the set consisting of:

cost associated with accessing the information source, a typical response speed of the information source, an assessment of the reliability of information received from the information source, a size of the information source, a type of the information source, and a location associated with the information source.

15. The system of claim 10, wherein the one or more computer processors configured to access information about characteristics of the proposed check-cashing transaction comprises one or more computer processors configured to obtain information about at least one of the set consisting of:

an amount associated with the check, a check type associated with the check, a date associated with the proposed check-cashing transaction, a time associated with the proposed transaction, a location associated with the transaction, and an entity type associated with the check-cashing entity.

16. The system of claim 10, wherein the one or more computer processors configured to access information about preferences of the check-cashing entity comprises one or more computer processors configured to access information about at least one of the set consisting of:

a risk tolerance level of the check-cashing entity, an authentication process speed preference of the check-cashing entity, and an authentication process cost preference of the check-cashing entity.

17. The system of claim 10, wherein the one or more computer processors configured to select at least one of the available positive pay information sources to query comprises one or more computer processors configured to select at least one positive pay information source that satisfies preferences expressed by the check-cashing entity.

18. A system for selecting at least one source of positive pay information to query in association with a proposed check-cashing transaction, the system comprising:

means for receiving a request from a check-cashing entity for positive pay authentication for a check presented to the check-cashing entity in association with a proposed check-cashing transaction;

means for identifying a plurality of available positive pay information sources;

means for accessing information, wherein the information is at least one of the set consisting of;

characteristics of the available positive pay information sources;

characteristics of the proposed check-cashing transaction; and

preferences of the check-cashing entity; and

means for determining, based at least in part on the accessed information, which of the available positive pay information sources are more likely to store positive pay information about the check; and

means for selecting, based at least in part on the request received from the check-cashing entity and the determination, at least one of the available positive pay information sources to query earlier than the other of the available positive pay information sources.

19. The system of claim 18, wherein the means for identifying the plurality of available positive pay information sources comprises a means for identifying a plurality of available positive pay information sources associated with at least one of the set consisting of:

payroll checks, payroll check cards, government checks, government check cards, insurance checks, personal checks, personal check cards, other types of check cards, checks issued by a given payroll processor, checks issued in a given geographical region, money orders, and checks drawn on accounts in a given financial institution.

20. The system of claim 18, further comprising:

means for querying at least one of the selected positive pay information sources for positive pay information associated with the proposed check-cashing transaction;

means for receiving from the at least one positive pay information sources queried at least one positive pay status report associated with the proposed check-cashing transaction; and

based at least in part on the at least one positive pay status report received, means for selecting at least one of the available positive pay information sources that has not been queried, to query for additional positive pay information associated with the proposed check-cashing transaction.