Real time financial instrument image exchange system and method

• US 7,761,358 B2
• Filed: 04/08/2009
• Issued: 07/20/2010
• Est. Priority Date: 01/11/2002
• Status: Expired due to Term

• Current Assignee: Advanced Financial Solutions Incorporated (Fidelity National Information Services Incorporated)
• Original Assignee: Advanced Financial Solutions Incorporated (Fidelity National Information Services Incorporated)
• Inventors: Miller, Michael M., Downs, Charles H. Jr., Craig, Mark S.
• Primary Examiner(s): Dass; Harish T.
• Application Number:
  US12/420,484
• Publication Number:
  US 20090198606A1
• Time in Patent Office: 468 Days
• Field of Search: 705/45, 705/40, 705/35, 705/30, 358/400, 382/139
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/0425 the cheque being electronic only
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

A real time financial instrument image exchange system and method deliver a digital image of a financial instrument (for example, a bank check) very quickly through an image exchange network to a payor institution by promptly forwarding the digital image when it is created at a depositing institution. This may expedite pay or return decisions to be made by payor institutions, which may enable banks to truncate checks, to reduce fraud and its costs, and to facilitate compliance with banking regulations. Such image capture, as well as related data capture, and real-time transfer enable emulation to an item processing system of the payor institution whereby the payor'"'"'s item processing system processes the image and data as if it did the original capture actually performed at the depositing institution.

Claims

1. A real time financial instrument image exchange method comprising:

a first financial institution receiving an individual financial instrument and identifying a second financial institution associated with said financial instrument;

capturing at said first financial institution a digital image for said financial instrument processed at said first financial institution;

detecting a MICR line on said financial instrument and creating a data file based on a reading of said MICR line;

upon identification of said second financial institute, said first financial institute electronically copying, into an image exchange network, the captured digital image and data file; and

,

simultaneously with the step of electronically copying, communicating via an image exchange network the copied digital image and data file to said second financial institute for use on behalf of the identified second financial institution.

2. The method of claim 1, wherein said image exchange network includes a client image exchange server associated with said first financial institute and further comprising the step of determining if the data file is sufficient to identify said second financial institution prior to copying the digital image and data file to said client image exchange server associated with said first financial institute.

3. The method of claim 2, further comprising the step of forwarding the digital image and data file to a central image exchange server.

4. The method of claim 3, further comprising the step of said central image exchange server ascertaining the second financial institution from the data file received from the client exchange server associated with the first financial institute and copying the digital image and data file to the client exchange server associated with the second financial institution.

5. The method of claim 1, wherein each financial instrument is processed immediately upon receipt by said first financial institution.

6. The method of claim 1, wherein the step of reading said MICR line produces errors in said data file and further comprising the step of correcting said data file prior to communicating said data file to said central image exchange server.

7. A financial instrument image and data exchange method comprising:

a first financial institution capturing digital images of a financial instrument;

said first financial institution detecting a MICR line on said financial instrument and creating a data file based on a reading of said MICR line;

concurrently with creating the electronic image, storing the created electronic image in a first client image exchange server, which is operatively associated with the first financial institution;

concurrently with storing the created electronic image, sending signals to a central image exchange server, said signals encoded to represent the stored electronic image and encoded to identify a second financial institution to a central image exchange server; and

,

sending the encoded signals from the central image exchange server to a second client image exchange server, which is operatively associated with the second financial institution.

8. The method of claim 7, further comprising the step of determining if the data file is sufficient to identify said second financial institution prior to storing the digital image and data file in said first client image exchange server.

9. The method of claim 7, wherein each financial instrument is processed immediately upon receipt by said first financial institution.

10. The method of claim 7, wherein the step of reading said MICR line produces errors in said data file and further comprising the step of correcting said data file prior to communicating said data file to said central image exchange server.

11. The method of claim 7, further comprising the step of said central image exchange server ascertaining the second financial institution from the data file received from the client exchange server associated with the first financial institute and copying the digital image and data file to the client exchange server associated with the second financial institution.

12. A financial instrument capture emulation method comprising:

a presenting financial institution receiving an individual financial instrument;

using a first client exchange server associated with said presenting financial institution to capture a digital image and raw data for said financial instrument processed at said first financial institution, said client exchange server concurrently forwarding said digital image and raw data to a central exchange server;

said central exchange server ascertaining a paying institution associated with said raw data and said central exchange server concurrently copying said digital image and raw data to a second client exchange server associated with said paying institution;

said presenting institution correcting the raw data for said financial instrument;

said presenting institution using said client image exchange server to monitor the correction of said raw data;

said client image exchange server automatically freezing the corrected data to prevent further editing and automatically forwarding the corrected data to said central exchange server;

said central exchange server replacing said raw data with the corrected data;

said central exchange server forwarding said corrected data to said second client exchange server;

said second client exchange server replacing said raw data with said corrected data and places said digital image and said corrected data into a item processing system associated with said paying institution thereby generating a file input which emulates a file originally captured by said paying institution.

13. A method as defined in claim 12, wherein the financial instrument is a bank check processed through a check sorter of the item processing system for the sending financial institution.

14. A method as defined in claim 13, wherein providing the digital image and digital data to the item processing system for the receiving financial institution further includes communicating copies of signals from the check sorter through an image exchange computer network connected to the item processing system for the sending financial institution and the item processing system for the receiving financial institution.

15. A method as defined in claim 12, wherein providing the digital image and digital data to the item processing system for the receiving financial institution further includes communicating signals defining the digital image and digital data through an image exchange computer network connected to the item processing system for the sending financial institution and the item processing system for the receiving financial institution.