Systems and methods for distribution of cash

• US 9,058,598 B1
• Filed: 01/10/2014
• Issued: 06/16/2015
• Est. Priority Date: 01/10/2008
• 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: Swaminathan, Ganesh, Sutton, James P., Ll, Timothy Tuo
• Primary Examiner(s): Mikels, Matthew
• Application Number:
  US14/151,952
• Time in Patent Office: 522 Days
• Field of Search: 235/375, 235/379, 235/380, 705/5, 705 35- 45
• US Class Current: 1/1
• CPC Class Codes: G06Q 10/04 Forecasting or optimisation specially adapted for administrative or management purposes, e.g. linear programming or "cutting stock problem" market predictions or forecasting for commercial activities G06Q30/0202
• CPC Class Codes: G06Q 10/06315 Needs-based resource requirements planning or analysis
• CPC Class Codes: G06Q 10/0637 Strategic management or analysis, e.g. setting a goal or target of an organisation; Planning actions based on goals; Analysis or evaluation of effectiveness of goals
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

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.

Claims

1. A computer implemented method for transferring cash with a particular branch bank, the method comprising the steps of:

receiving first data relating to cash usage at a plurality of branch banks;

receiving second data relating to cash usage at the particular branch bank, the second data including a known ending balance at the particular branch bank;

generating forecasting data based on the first data and the second data to determine a current cash need;

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;

determining an anticipated route for a transfer of cash;

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; and

generating an alert when the transfer of cash diverges from the anticipated route.

2. The method of claim 1, wherein the transfer of cash is between the particular branch bank and a cash distribution bank.

3. The method of claim 1, wherein the transfer of cash is between the particular branch bank and another branch bank.

4. The method of claim 1, wherein the transfer of cash is between the particular branch bank and a merchant.

5. The method of claim 1, further comprising receiving community event information;

and including the community event information in the forecasting data, such that the community event information is used in the forecast processing; and

associating the community event information with the particular branch bank using geographical information wherein the geographical information is a zip code associated with the community event information and a zip code associated with the particular branch bank.

6. The method of claim 1, further comprising receiving weather information;

and including the weather information in the forecasting data, such that the weather information is used in the forecast processing.

7. The method of claim 1, further comprising associating the cash transfer request with tag information, the tag information including special instructions for the cash transfer.

8. The method of claim 7, wherein the tag information reflects an urgent transfer of cash.

10. The system of claim 1, wherein the transfer of cash is between the particular branch bank and a cash distribution bank.

11. The system of claim 1, wherein the transfer of cash is between the particular branch bank and another branch bank.

12. The system of claim 1, wherein the transfer of cash is between the particular branch bank and a merchant.

13. The system of claim 1, wherein the processor further performs:

receiving community event information; and

including the community event information in the forecasting data, such that the community event information is used in the forecast processing; and

associating the community event information with the particular branch bank using geographical information wherein the geographical information is a zip code associated with the community event information and a zip code associated with the particular branch bank.

14. The method of claim 1, wherein the processor further performs:

receiving weather information; and

including the weather information in the forecasting data, such that the weather information is used in the forecast processing.

15. The method of claim 1, wherein the processor further performs:

associating the cash transfer request with tag information, the tag information including special instructions for the cash transfer wherein the tag information reflects an urgent transfer of cash.

9. A computer implemented system for transferring cash with a particular branch bank, the system comprising:

a processor; and

a memory comprising computer-readable instructions which when executed by the processor cause the processor to perform the steps comprising;

receiving first data relating to cash usage at a plurality of branch banks;

receiving second data relating to cash usage at the particular branch bank, the second data including a known ending balance at the particular branch bank;

generating forecasting data based on the first data and the second data to determine a current cash need;

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;

determining an anticipated route for a transfer of cash;

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; and

generating an alert when the transfer of cash diverges from the anticipated route.

16. 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:

a communication portion that;

receives first data relating to the first location and the second location; and

receives 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.

17. The system of claim 16, wherein the first location is a cash distribution bank and the second location is a branch bank.

18. The system of claim 16, wherein the first location is a branch bank and the second location is a branch bank.

19. The system of claim 16, wherein the processing portion determining an optimum cash transport vendor to utilize includes consideration of each of:

the first location;

the second location; and

location of the plurality of cash transport vendors that are available to satisfy the cash transfer request.

20. The system of claim 19, wherein the processing portion determining an optimum cash transport vendor to utilize further includes consideration of timing of the transfer of the cash shipment amount.