Electronic check presentment system and method having an item sequence capability

• US 7,584,125 B2
• Filed: 12/01/2000
• Issued: 09/01/2009
• Est. Priority Date: 06/26/2000
• Status: Active Grant

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Inventors: Norman, Richard, Day, Cliff, Vicknair, Tom, Feagin, Dick, Fielding, Paul, Roycroft, Max, Beard, Sam, Riggleman, Mark
• Primary Examiner(s): Dass; Harish T.
• Application Number:
  US09/728,340
• Publication Number:
  US 20030208421A1
• Time in Patent Office: 3,196 Days
• Field of Search: 705/35, 705/40, 705/42, 705/45, 235/379, 235/488, 283/58, 282/137, 282/275, 348/207.2, 347/240.1, 358/444, 707/101, 707/3, 707/7, 379/601, 430/496
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque
• 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 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

Abstract

A system and method for performing Electronic Check Presentment (ECP) processing. The system and method employ digital imaging techniques to digitally image the physical checks as they arrive subsequent to posting of the ECP items. The images are electronically linked to the data records that represent the checks. During the proofing process, in which the data records for the ECP items are validated against the data records for the physical items, the records are updated such that the posting date and ISN number for the data records for the physical items reflect the posting date and ISN number of the ECP items. As the digital image of the check is electronically linked to the data records, the image is thus carries the posting date and ISN of the ECP item.

Claims

1. A computer-implemented method of processing banking transactions comprising:

receiving at a computer memory an electronic cash presentment (ECP) file, the ECP file containing first records representing paper-based banking transactions;

for each of the first records, assigning a unique first item sequence number to each respective first record using a computerized sequence assignment module;

receiving the paper-based banking transactions after having received the ECP file;

generating second records representing the paper-based banking transactions using a computerized record assignment module;

generating digital images of the paper-based banking transactions;

for each of the second records, assigning a unique second item sequence number to each respective second record using the computerized sequence assignment module;

correlating the first and second records using a computerized correlation module; and

electronically discarding the second item sequence numbers such that the second records are indexable according to the first item sequence number wherein the second records and the digital images are linked to the first records by the first item sequence number.

2. The method according to claim 1, further comprising performing financial processing with respect to each of the first records.

3. The method according to claim 2, wherein the financial processing comprises posting the banking transaction.

4. The method according to claim 1, wherein the step of correlating the first and second records further comprises performing a proofing process.

5. The method according to claim 4, further comprising, prior to the proofing process, sorting the ECP file according to a key to generate an index file, wherein the order of the second records is thereby irrelevant in the proofing process.

6. The method according to claim 5, wherein the key is selected from the group consisting an account number, a transit number, amount, check number, posting date, the first item sequence number and a payor bank number, each being associated with the paper-based banking transaction.

7. The method according to claim 1, further comprising storing the digital images in an archive.

8. The method according to claim 1, further comprising generating first digital images of paper-based banking transactions that were not represented in the ECP file.

9. The method according to claim 8, further comprising:

generating second digital images of the paper-based banking transactions that were represented in the ECP file; and

storing the first and the second digital images in an archive.

10. A system for processing banking transactions comprising:

a first processor, the first processor receiving an electronic cash presentment (ECP) file, the ECP file containing first records representing paper-based banking transactions, the first processor assigning a unique first item sequence number to each respective first record;

a second processor, the second processor receiving the paper-based banking transactions after the first processor received the ECP file, the second processor generating second records representing the paper-based banking transactions, the second processor assigning a unique second item sequence number to each respective second record;

a scanner coupled to the second processor for generating digital images of the paper-based banking transactions; and

a third processor correlating the first and second records and discarding the second item sequence numbers such that the second records are indexable according to the first item sequence number wherein the second records and the digital images are linked to the first records by the first item sequence number.

11. The system according to claim 10, wherein the first processor further performs financial processing with respect to each of the first records.

12. The system according to claim 11, further comprising an account system coupled to the first processor, wherein the financial processing by the first processor comprises posting the banking transaction in the account system.

13. The system according to claim 10, wherein the correlating by the third processor further comprises the third processor performing a proofing process.

14. The system according to claim 13, wherein, prior to the proofing process, the third processor sorts the ECP file according to a key to generate an index file, wherein the order of the second records is thereby irrelevant in the proofing process by the third processor.

15. The system according to claim 14, wherein the key is selected from the group consisting an account number, a transit number, amount, check number, posting date, the first item sequence number and a payor bank number, each being associated with the paper-based banking transaction.

16. The system according to claim 10, further comprising an archive coupled to the second processor, the archive storing the digital images.

17. The system according to claim 10, further comprising a scanner, the scanner generating first digital images of paper-based banking transactions that were not represented in the ECP file.

18. The system according to claim 17, wherein the scanner is a first scanner, the system further comprising:

a second scanner coupled to the first processor, the second scanner generating second digital images of the paper-based banking transactions that were represented in the ECP file; and

an archive coupled to the first processor, the archive storing the first and the second digital images.