System and method of determining collectability in a distributed negative file
First Claim
1. A method comprising executing computer implemented instructions performed by one or more processors for determining the collectability of check writers, the method comprising:
- storing a negative file in a database, the negative file including negative information about each check writer of a plurality of check writers;
classifying, via at least one processor, each check writer into one of a plurality of categories associated with a score based at least in part on the number of checks returned to merchants for insufficient funds;
modifying, via at least one processor, the negative file by removing the negative information for each check writer classified within a pre-determined set of the categories and retaining the negative information for each check writer not classified with the pre-determined set of categories;
labeling, via at least one processor, each check writer classified within the pre-determined set of categories as collectible and labeling each check writer not classified within the predetermined set of categories as non-collectible; and
transmitting the modified negative file to at least one merchant for use in check verification at a merchant location, wherein the modified negative file is accessed to determine check writer information.
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Accused Products
Abstract
The invention involves a system and a method of determining collectability of a check writer from a database including negative information of a plurality of check writers for check writing approval or denial. The invention provides for an improvement of determining collectability of a check writer in order to more effectively distinguish between collectible check writers and non-collectible check writers. The invention includes receiving the information of the check writer, processing the information to determine a score of the check writer, classifying the check writer within a predetermined category, and removing or retaining the check writer information from the database, depending on the category within which the check writer is classified.
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Citations
8 Claims
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1. A method comprising executing computer implemented instructions performed by one or more processors for determining the collectability of check writers, the method comprising:
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storing a negative file in a database, the negative file including negative information about each check writer of a plurality of check writers; classifying, via at least one processor, each check writer into one of a plurality of categories associated with a score based at least in part on the number of checks returned to merchants for insufficient funds; modifying, via at least one processor, the negative file by removing the negative information for each check writer classified within a pre-determined set of the categories and retaining the negative information for each check writer not classified with the pre-determined set of categories; labeling, via at least one processor, each check writer classified within the pre-determined set of categories as collectible and labeling each check writer not classified within the predetermined set of categories as non-collectible; and transmitting the modified negative file to at least one merchant for use in check verification at a merchant location, wherein the modified negative file is accessed to determine check writer information. - View Dependent Claims (2, 3)
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4. A method for determining the collectability of a check writer, the method comprising:
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receiving negative information about the check writer from a database; processing the negative information to determine a score, wherein the score is based at least in part on the number of checks returned to merchants for insufficient funds; classifying the check writer within one of a plurality of categories based on the score; removing the negative information from the database if the category into which the check writer is classified is one of a predetermined set of categories; and transmitting a scrubbed negative file from the database to at least one merchant for use in check verification at a merchant location, wherein the modified negative file is accessed to determine check writer information. - View Dependent Claims (5)
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6. A system for determining the collectability of check writers, the system comprising:
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a database containing a negative file, the negative file including negative information of a plurality of check writers; and a processor in communication with the database, the processor operative to; (a) classify individual check writers of the plurality of check writers as one of a plurality of pre-determined categories associated with a score based at least in part on the number of checks returned to merchants for insufficient funds, (b) modify the negative file by removing the negative information of the individual check writers classified within a pre-determined set of the plurality of pre-determined categories and retaining the negative information of the individual check writers not classified within the pre-determined set of the plurality of pre-determined categories, (c) label the individual check writers classified within a pre-determined set of the plurality of pre-determined categories as collectible and labeling the individual check writers not classified within the pre-determined set of the plurality of pre-determined categories as non-collectible, and (d) transmit the modified negative file to at least one merchant for use in check verification at a merchant location, wherein the modified negative file is accessed to determine check writer information. - View Dependent Claims (7, 8)
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Specification