Expanded mass data sets for electronic check processing

• US 8,167,196 B2
• Filed: 06/05/2009
• Issued: 05/01/2012
• Est. Priority Date: 02/28/2005
• Status: Active Grant

• Current Assignee: Federal Reserve Bank of Atlanta (Federal Reserve System), Federal Reserve Bank of Cleveland (Federal Reserve System), Federal Reserve Bank of Dallas (Federal Reserve System), Federal Reserve Bank of Kansas City (Federal Reserve System)
• Original Assignee: Federal Reserve Bank of Atlanta (Federal Reserve System), Federal Reserve Bank of Cleveland (Federal Reserve System), Federal Reserve Bank of Dallas (Federal Reserve System), Federal Reserve Bank of Kansas City (Federal Reserve System)
• Inventors: Mueller, Randall Lee, Schaadt, Thomas Edwin, Nori, V. Srinivas, Purser, Steven Q., Gonzalez, Pablo, Herring, Bruce D., Blake, James A.
• Primary Examiner(s): LE, THIEN MINH
• Application Number:
  US12/479,219
• Publication Number:
  US 20090236413A1
• Time in Patent Office: 1,061 Days
• Field of Search: 235/375, 235/379, 235/380, 235/382, 235/441, 235/449, 705/37, 705/35, 382/112, 382/139, 382/137
• US Class Current: 235/375
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/042 characterized in that the payment protocol involves at least one cheque

Abstract

Accommodating the data needed to process checks for payment under the Check Clearing for the 21^st Century Act by using expanded fields of a financial data file. The financial data file can comprise the complete, original MICR data from an original or substitute paper check. The financial data file can comprise truncated data in conventional fields F1-F7 and untruncated data in expanded fields F10-F11. The financial data file further can comprise a result from an image quality analysis performed on an electronic image of the check. The untruncated MICR data and the electronic check image can be used to correct errors in the financial data file and to present the check for payment via a substitute check or an electronic image cash letter. The truncated MICR data can be used to electronically process the check via conventional means.

Claims

1. A computer-implemented method for creating an expanded mass data set of a financial data file to process a check for payment, comprising the steps of:

identifying via a data capture module financial data related to the check, the financial data comprising “

on us”

data and “

auxiliary on us”

data;

storing, by the data capture module, the “

on us”

data in a first field of a financial data file;

storing, by the data capture module, the “

auxiliary on us”

data in a second field of the financial data file;

truncating, by the data capture module, the “

auxiliary on us”

data;

storing, by the data capture module, the truncated “

auxiliary on us”

data in a third field of the financial data file; and

creating, by a presentment module, a substitute check comprising at least certain of the data in the financial data file,

wherein each of the data capture module and the presentment module is implemented in a computer system that comprises instructions stored in a machine-readable medium and a processor that executes the instructions.

2. The computer-implemented method according to claim 1, wherein the step of identifying the financial data comprises reading MICR data from the check, and

wherein the “

on us”

data comprises at least a portion of the MICR data.

3. The computer-implemented method according to claim 1, wherein the “

on us”

data comprises process control data, and

wherein the method further comprises the steps of;

truncating, by the data capture module, the “

on us”

data; and

storing, by the data capture module, the truncated “

on us”

data in a fourth field of the financial data file.

4. The computer-implemented method according to claim 1, wherein the “

on us”

data comprises account number data, and

wherein the method further comprises the steps of;

truncating, by the data capture module, the “

on us”

data; and

storing, by the data capture module, the truncated “

on us”

data in a fourth field of the financial data file.

5. The computer-implemented method according to claim 1, wherein the “

on us”

data comprises check number data, and

wherein the method further comprises the steps of;

truncating, by the data capture module, the “

on us”

data; and

storing, by the data capture module, the truncated “

on us”

data in a fourth field of the financial data file.

6. The computer-implemented method according to claim 1, further comprising the steps of:

capturing an electronic image of the check; and

associating, by the data capture module, the electronic image with the financial data file.

7. The computer-implemented method according to claim 6, wherein the step of associating the electronic image with the financial data file comprises the step of assigning a common file name to the electronic image and the financial data file.

8. The computer-implemented method according to claim 6, wherein the financial data further comprises amount data and routing transit number data, and

wherein the method further comprises the steps of:

storing, by the data capture module, the amount data in a fourth field of the financial data file; and

storing, by the data capture module, the routing transit number data in a fifth field of the financial data file.

9. The computer-implemented method according to claim 8, wherein the financial data further comprises an external processing code, and

wherein the method further comprises the step of storing, by the data capture module, the external processing code in a sixth field of the financial data file.

10. The computer-implemented method according to claim 8, wherein the substitute check comprises the “

on us”

data in the first field of the financial data file, the “

auxiliary on us”

data in the second field of the financial data file, the electronic image, the amount data in the fourth field of the financial data file, and the routing transit number data in the fifth field of the financial data file.

11. The computer-implemented method according to claim 10, further comprising the step of storing, by the data capture module, addenda data related to the check, and

wherein the substitute check comprises the addenda data.

12. The computer-implemented method according to claim 8, further comprising the step of creating, by the presentment module, an image cash letter comprising the “

on us”

data in the first field of the financial data file, the “

auxiliary on us”

data in the second field of the financial data file, the electronic image, the amount data in the fourth field of the financial data file, and the routing transit number data in the fifth field of the financial data file.

13. The computer-implemented method according to claim 1, wherein truncating comprises removing at least one of dashes and data beyond a specified number of characters.

14. A computer-readable medium having computer-executable instructions for performing the steps recited in claim 1.

15. The computer-implemented method according to claim 1, further comprising the steps of:

identifying, by the data capture module, a result of an image quality analysis performed on an electronic image of the check; and

storing, by the data capture module, the identified result in a fourth field of the financial data file.

16. A computer-implemented method for creating an expanded mass data set of a financial data file to process a check for payment, comprising the steps of:

identifying, via a data capture module, financial data related to the check, the financial data comprising “

on us”

data and “

auxiliary on us”

data;

storing, by the data capture module, the “

on us”

data in a first field of a financial data file;

storing, by the data capture module, the “

auxiliary on us”

data in a second field of the financial data file;

truncating, by the data capture module, the “

on us”

data;

storing, by the data capture module, the truncated “

on us”

data in a third field of the financial data file; and

creating, by a presentment module, a substitute check comprising at least certain of the data in the financial data file,

wherein each of the data capture module and the presentment module is implemented in a computer system that comprises instructions stored in a machine-readable medium and a processor that executes the instructions.

17. The computer-implemented method according to claim 16, wherein the step of identifying the financial data comprises reading MICR data from the check, and

wherein the financial data comprises at least a portion of the MICR data.

18. The computer-implemented method according to claim 16, wherein the “

on us”

data comprises at least one of process control data, account number data, and check number data.

19. The computer-implemented method according to claim 16, further comprising the steps of:

capturing an electronic image of the check; and

associating, by the data capture module, the electronic image with the financial data file.

20. The computer-implemented method according to claim 19, wherein the step of associating the electronic image with the financial data file comprises the step assigning, by the data capture module, a common file name to the electronic image and the financial data file.

21. The computer-implemented method according to claim 19, wherein the financial data further comprises amount data and routing transit number data, and

wherein the method further comprises the steps of:

storing, by the data capture module, the amount data in a fourth field of the financial data file; and

storing, by the data capture module, the routing transit number data in a fifth field of the financial data file.

22. The computer-implemented method according to claim 21, wherein the financial data further comprises an external processing code, and

wherein the method further comprises the step of storing, by the data capture module, the external processing code in a sixth field of the financial data file.

23. The computer-implemented method according to claim 21, wherein the substitute check comprises the “

on us”

data in the first field of the financial data file, the “

auxiliary on us”

data in the second field of the financial data file, the electronic image, the amount data in the fourth field of the financial data file, and the routing transit number data in the fifth field of the financial data file.

24. The computer-implemented method according to claim 23, further comprising the step of storing, by the data capture module, addenda data related to the check, and

wherein the substitute check comprises the addenda data.

25. The computer-implemented method according to claim 21, further comprising the step of creating, by the presentment module, an image cash letter comprising the “

on us”

data in the first field of the financial data file, the “

auxiliary on us”

data in the second field of the financial data file, the electronic image, the amount data in the fourth field of the financial data file, and the routing transit number data in the fifth field of the financial data file.

26. The computer-implemented method according to claim 16, wherein truncating comprises removing at least one of extraneous characters and data beyond a specified number of characters.

27. A computer-readable medium having computer-executable instructions for performing the steps recited in claim 16.

28. The computer-implemented method according to claim 16, further comprising the steps of:

identifying, by the data capture module, a result of an image quality analysis performed on an electronic image of the check; and

storing, by the data capture module, the identified result in a fourth field of the financial data file.

29. A system for creating an expanded mass data set of a financial data file to process a check for payment, comprising:

a data capture module operable to;

identify financial data related to the check, the financial data comprising “

on us”

data and “

auxiliary on us”

data, and

truncate the “

on us”

data; and

a data storage device operable to;

store the identified “

on us”

data in a first field of a financial data file,

store the identified “

auxiliary on us”

data in a second field of the financial data file, and

store the truncated “

on us”

data in a third field of the financial data file; and

a presentment module that creates a substitute check comprising at least certain of the data in the financial data file.

30. The system according to claim 29, wherein the “

on us”

data comprises at least one of process control data, account number data, and check number data.

31. The system according to claim 29, further comprising:

an image capturing device operable to capture an electronic image of the check; and

wherein the data capture module is further operable to associate the electronic image with the financial data file.

32. The system according to claim 29, wherein the financial data further comprises amount data and routing transit number data, and

wherein the data capture module is further operable to:

store the amount data in a fourth field of the financial data file, and

store the routing transit number data in a fifth field of the financial data file.

33. The system according to claim 29, wherein the data capture module is further operable to identify a result of an image quality analysis performed on an electronic image of the check, and

wherein the data storage device is further operable to store the identified result in a fourth field of the financial data file.

34. The system according to claim 29, wherein the data capture module comprises at least one of a check sorter and a MICR reader.

35. A system for creating an expanded mass data set of a financial data file to process a check for payment, comprising:

means for identifying financial data related to the check, the financial data comprising “

on us”

data and “

auxiliary on us”

data;

means for storing the “

on us”

data in a first field of a financial data file;

means for storing the “

auxiliary on us”

data in a second field of the financial data file;

means for truncating the “

on us”

data;

means for storing the truncated “

on us”

data in a third field of the financial data file; and

means for creating a substitute check comprising at least certain of the data in the financial data file.

36. The system according to claim 35, wherein the “

on us”

data comprises at least one of process control data, account number data, and check number data.

37. The system according to claim 35, wherein the financial data further comprises amount data and routing transit number data, and

wherein the system further comprises:

means for capturing an electronic image of the check;

means for associating the electronic image with the financial data file;

means for storing the amount data in a fourth field of the financial data file; and

means for storing the routing transit number data in a fifth field of the financial data file.

38. The system according to claim 37, wherein the financial data further comprises an external processing code, and

wherein the system further comprises means for storing the external processing code in a sixth field of the financial data file.

39. The system according to claim 37, wherein the substitute check comprises the “

on us”

data in the first field of the financial data file, the “

auxiliary on us”

data in the second field of the financial data file, the electronic image, the amount data in the fourth field of the financial data file, and the routing transit number data in the fifth field of the financial data file.

40. The system according to claim 37, further comprising means for creating an image cash letter comprising the “

on us”

data in the first field of the financial data file, the “

auxiliary on us”

data in the second field of the financial data file, the electronic image, the amount data in the fourth field of the financial data file, and the routing transit number data in the fifth field of the financial data file.

41. The system according to claim 37, wherein the means for truncating includes means for removing at least one of extraneous characters and data beyond a specified number of characters.

42. A computer-implemented method for creating an expanded mass data set of a financial data file to process a check for payment, comprising the steps of:

identifying, by a computer, financial data related to the check, the financial data comprising “

on us”

data and “

auxiliary on us”

data;

storing, by the computer, the “

on us”

data in a first field of a financial data file;

storing, by the computer, the “

auxiliary on us”

data in a second field of the financial data file;

truncating, by the computer, the “

auxiliary on us”

data;

storing, by the computer, the truncated “

auxiliary on us”

data in a third field of the financial data file; and

creating, by the computer, a substitute check comprising at least certain of the data in the financial data file.

43. The computer-implemented method according to claim 42, wherein

the financial data further comprises amount data and routing transit number data, and the method further comprises the steps of

storing, by the computer, the amount data in a fourth field of the financial data file;

and

storing, by the computer, the routing transit number data in a fifth field of the financial data file.

44. The computer-implemented method according to claim 43, wherein the substitute check comprises the “

on us”

data in the first field of the financial data file, the “

auxiliary on us”

data in the second field of the financial data file, the amount data in the fourth field of the financial data file, and the routing transit number data in the fifth field of the financial data file.

45. The computer-implemented method according to claim 43, further comprising the step of creating, by the computer, an image cash letter comprising the “

on us”

data in the first field of the financial data file, the “

auxiliary on us”

data in the second field of the financial data file, the amount data in the fourth field of the financial data file, and the routing transit number data in the fifth field of the financial data file.

46. An apparatus for creating an expanded mass data set of a financial data file to process a check for payment, comprising:

a computer processor configured to

identify financial data related to the check, the financial data comprising “

on us”

data and “

auxiliary on us”

data, and

truncate the “

on us”

data; and

a storage device that

stores the identified “

on us”

data in a first field of a financial data file,

stores the identified “

auxiliary on us”

data in a second field of the financial data file, and

stores the truncated “

on us”

data in a third field of the financial data file, wherein

the computer processor is further configured to create a substitute check comprising at least certain of the data in the financial data file.

47. The apparatus according to claim 46, wherein

the financial data further comprises amount data and routing transit number data, and the computer processor is further configured to

store the amount data in a fourth field of the financial data file, and

store the routing transit number data in a fifth field of the financial data file.

48. The apparatus according to claim 47, wherein the substitute check comprises the “

on us”

data in the first field of the financial data file, the “

auxiliary on us”

data in the second field of the financial data file, the amount data in the fourth field of the financial data file, and the routing transit number data in the fifth field of the financial data file.

49. The apparatus according to claim 46, wherein the computer processor is further configured to create an image cash letter comprising the “

on us”

data in the first field of the financial data file, the “

auxiliary on us”

data in the second field of the financial data file, the amount data in the fourth field of the financial data file, and the routing transit number data in the fifth field of the financial data file.