Systems and methods for distribution of cash
First Claim
1. A computer implemented method for transferring cash with a particular branch bank, the method including the steps of:
- inputting first data relating to cash usage at a plurality of branch banks;
inputting second data relating to cash usage at the particular branch bank, the second data including a known ending balance at the particular branch bank;
assimilating the first data and the second data to constitute forecasting data;
performing forecast processing to determine an amount of cash to be transferred to or from the particular branch bank, the forecast processing including;
forecasting a cash in amount and forecasting a cash out amount based on the forecasting data, and generating a projected ending balance based on the forecasted cash in amount, the forecasted cash out amount, and the known ending balance;
generating a forecasted ending balance based at least in part on historical data associated with the particular branch bank; and
comparing the projected ending balance with the forecasted ending balance to determine a cash shipment amount;
generating a cash transfer request based on the cash shipment amount;
generating a request for bid to a plurality of cash transport vendors determined to be potentially available to satisfy the cash transfer request wherein the request for bid comprises one or more parameters for the requested transfer, the one or more parameters including at least an amount of cash being transferred;
determining an optimum cash transport vendor based at least in part on the following;
one or more bid responses to the request for bid, the amount of cash being transferred, geographical information regarding the proximity of entities to each other and time-line related information;
determining an anticipated route for a transfer of cash for the optimum cash transport vendor;
effecting the transfer of cash with the branch bank based on the cash transfer request using the anticipated route;
monitoring the transfer of cash using a global positioning device;
generating an alert when the optimum cash transport vendor diverges from the anticipated route;
comparing forecasted data with actual amounts form the particular branch bank; and
adjusting the forecasting processing based at least in part on the step of comparing with actual amounts.
1 Assignment
0 Petitions
Accused Products
Abstract
The invention provides systems and methods for transferring cash to and from branch banks. The method may include the steps of inputting first data relating to cash usage at a plurality of branch banks; inputting second data relating to cash usage at the particular branch bank, the second data including a known ending balance at the particular branch bank; and assimilating the first data and the second data to constitute forecasting data; and performing forecast processing to determine an amount of cash to be transferred to or from the branch bank. The forecast processing may include (1) forecasting a cash in amount and forecasting a cash out amount based on the forecasting data, and generating a projected ending balance based on the forecasted cash in amount, the forecasted cash out amount, and the known ending balance; (2) generating a forecasted ending balance; and (3) comparing the projected ending balance with the forecasted ending balance to determine a cash shipment amount. The method may also include generating a cash transfer request based on the cash shipment amount; and effecting a transfer of cash with the branch bank based on the cash transfer request.
19 Citations
29 Claims
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1. A computer implemented method for transferring cash with a particular branch bank, the method including the steps of:
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inputting first data relating to cash usage at a plurality of branch banks; inputting second data relating to cash usage at the particular branch bank, the second data including a known ending balance at the particular branch bank; assimilating the first data and the second data to constitute forecasting data; performing forecast processing to determine an amount of cash to be transferred to or from the particular branch bank, the forecast processing including; forecasting a cash in amount and forecasting a cash out amount based on the forecasting data, and generating a projected ending balance based on the forecasted cash in amount, the forecasted cash out amount, and the known ending balance; generating a forecasted ending balance based at least in part on historical data associated with the particular branch bank; and comparing the projected ending balance with the forecasted ending balance to determine a cash shipment amount; generating a cash transfer request based on the cash shipment amount; generating a request for bid to a plurality of cash transport vendors determined to be potentially available to satisfy the cash transfer request wherein the request for bid comprises one or more parameters for the requested transfer, the one or more parameters including at least an amount of cash being transferred; determining an optimum cash transport vendor based at least in part on the following;
one or more bid responses to the request for bid, the amount of cash being transferred, geographical information regarding the proximity of entities to each other and time-line related information;determining an anticipated route for a transfer of cash for the optimum cash transport vendor; effecting the transfer of cash with the branch bank based on the cash transfer request using the anticipated route; monitoring the transfer of cash using a global positioning device; generating an alert when the optimum cash transport vendor diverges from the anticipated route; comparing forecasted data with actual amounts form the particular branch bank; and adjusting the forecasting processing based at least in part on the step of comparing with actual amounts. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21)
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22. A system for transferring cash with a particular branch bank, the system including:
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a communication portion that; inputs first data relating to cash usage at a plurality of branch banks; and inputs second data relating to cash usage at the particular branch bank, the second data including a known ending balance at the particular branch bank; an analysis and forecasting portion that assimilates the first data and the second data to constitute forecasting data, the analysis and forecasting portion performing forecast processing to determine an amount of cash to be transferred to or from the branch bank, the forecast processing including; forecasting a cash in amount and forecasting a cash out amount based on the forecasting data, and generating a projected ending balance based on the forecasted cash in amount, the forecasted cash out amount, and the known ending balance; generating a forecasted ending balance based at least in part on historical data associated with the particular branch bank; and comparing the projected ending balance with the forecasted ending balance to determine a cash shipment amount; a cash transfer queue processing portion that generates a cash transfer request based on the cash shipment amount; a cash transport vendor processing portion that effects a transfer of cash, with the branch bank, based on the cash transfer request, generates a request for bid to a plurality of cash transport vendors determined to be potentially available to satisfy the cash transfer request wherein the request for bid comprises one or more parameters for the requested transfer, the one or more parameters including at least an amount of cash being transferred and further determines an optimum cash transport vendor based at least in part on the following;
one or more bid responses to the request for bid, the amount of cash being transferred, geographical information regarding the proximity of entities to each other and time-line related information; and
further determines an anticipated route for the transfer of cash for the optimum cash transport vendor, monitors the transfer of cash using a global positioning device and generates an alert when the optimum cash transport vendor diverges from the anticipated route; andan adjustment processing portion that compares forecasted data with actual amounts form the particular branch bank and adjusts the forecasting processing based at least in part on the step of comparing with actual amounts.
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23. A system for determining a cash shipment amount for transfer to a particular branch bank, the system including:
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a communication portion that; inputs first data relating to cash usage at a plurality of branch banks; and inputs second data relating to cash usage at the particular branch bank, the second data including a known ending balance at the particular branch bank; a processing portion that assimilates the first data and the second data to constitute forecasting data, the processing portion performing forecast processing to determine a cash shipment amount to be shipped to the particular branch bank; and wherein the forecast processing includes; forecasting a cash in amount and forecasting a cash out amount based on the forecasting data, and generating a projected ending balance for the particular branch bank based on the forecasted cash in amount, the forecasted cash out amount, and the known ending balance; generating a forecasted ending balance based at least in part on historical data associated with the particular branch bank; and comparing the projected ending balance with the forecasted ending balance to determine a cash shipment amount; comparing forecasted data with actual amounts form the particular branch bank; and adjusting the forecasting processing based at least in part on the step of comparing with actual amounts; wherein the processing portion further generates a request for bid to a plurality of cash transport vendors determined to be potentially available to satisfy the cash transfer request wherein the request for bid comprises one or more parameters for the requested transfer, the one or more parameters including at least an amount of cash being transferred and determines an optimum cash transport vendor based at least in part on the following;
one or more bid responses to the request for bid, the amount of cash being transferred, geographical information regarding the proximity of entities to each other and time-line related information. - View Dependent Claims (24)
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25. A system that determines a cash transport vendor to use to satisfy a cash transfer request that includes transfer of a cash shipment amount, from a first location to a second location, the system including:
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a communication portion that; inputs first data relating to the first location and the second location; and inputs second data including cash transport vendor information; and a processing portion that; determines, based on the first data and the second data, a plurality of cash transport vendors that are available to satisfy the cash transfer request; determines an optimum cash transport vendor to utilize, to satisfy the cash transfer request, out of the plurality of cash transport vendors that are available; and outputs data, to the communication portion, to effect the transfer of the cash transfer request from the first location to the second location, using the optimum cash transport vendor; and the system further; performing forecast processing to determine an amount of cash to be transferred by the cash transport vendor, the forecast processing including; forecasting a cash in amount and forecasting a cash out amount based on forecasting data, and generating a projected ending balance based on the forecasted cash in amount, the forecasted cash out amount, and a known ending balance; generating a forecasted ending balance based on historical data from a prior time period; and comparing the projected ending balance with the forecasted ending balance to determine a cash shipment amount; and generating the cash transfer request based on the cash shipment amount; generating a request for bid to a plurality of cash transport vendors determined to be potentially available to satisfy the cash transfer request wherein the request for bid comprises one or more parameters for the requested transfer, the one or more parameters including at least an amount of cash being transferred; determining an optimum cash transport vendor based at least in part on the following;
one or more bid responses to the request for bid, the amount of cash being transferred, geographical information regarding the proximity of entities to each other and time-line related information;comparing forecasted data with actual amounts form the particular branch bank; and adjusting the forecasting processing based at least in part on the step of comparing with actual amounts. - View Dependent Claims (26, 27, 28, 29)
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Specification