Data lifting for exception processing

• US 9,639,750 B2
• Filed: 02/29/2016
• Issued: 05/02/2017
• Est. Priority Date: 10/29/2013
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Smith, Michael Gerald, Johnson, Scott Andrew, Hjellming, Michael Scott, Hanson, Brian David, Govindarajan, Saravana Kumar, Koo, Hyunmo
• Primary Examiner(s): YANG, WEI WEN
• Application Number:
  US15/056,421
• Publication Number:
  US 20160180168A1
• Time in Patent Office: 428 Days
• Field of Search: None
• CPC Class Codes: G06V 30/224 of printed characters having additional code marks or containing code marks
• CPC Class Codes: G06V 30/416 Extracting the logical structure, e.g. chapters, sections or page numbers; Identifying elements of the document, e.g. authors
• CPC Class Codes: G06V 30/418 Document matching, e.g. of document images

Abstract

Embodiments of the invention include systems, methods, and computer-program products for lifting metadata from financial documents to allow for automated exception processing. As such, allowing for automated decisions for exception processing to systematically be resolved base on matches between lifted metadata. The exceptions may include one or more irregularities such as bad micro line reads, outdated check stork, or misrepresentative checks that may result in a failure to match the check to an associated account for processing. As such, once an exception is identified during the processing the metadata lifted from the document with the exception may be utilized to search financial records at the financial institution to attempt to identify the correct version of the document. Subsequently, the system may correct the irregularity systematically and automatically.

Claims

1. A system for exception processing of financial documents, the system comprising:

a memory device with computer-readable program code stored thereon;

a communication device;

a processing device operatively coupled to the memory device and the communication device, wherein the processing device is configured to execute the computer-readable program code to;

receive an indication of a user transaction, wherein receiving an indication of the user transaction comprises receiving a copy of one or more financial documents associated with the user transaction for processing;

identify data from the financial document, wherein the data from the financial document is extracted from the financial document using optical character recognition and the data is stored as metadata;

process the financial document by identifying exceptions in the metadata for the financial document being processed, wherein identifying exceptions further comprises identifying a type of financial document as a credit document or a debit document;

determine known data associated with financial accounts of a user based on the metadata, wherein the financial accounts are identified by comparing the metadata that is not associated with the exception to the financial institution records to generate the known data;

compare the exceptions identified in the metadata associated with the financial document to the known data associated with the financial accounts of the user;

match an appropriate financial account to the financial document comprising exceptions, wherein the match is based on the comparison between the extracted metadata from the financial document comprising exceptions to the known data associated with financial accounts;

identify one or more resolutions associated with the identified exception, wherein identifying one or more resolutions further comprises comparing the extracted metadata with data associated with either financial institution records or financial accounts of the user and

correcting, automatically, the identified exceptions in the financial documents based on the one or more resolutions.

2. The system of claim 1, wherein processing the financial documents further comprises directing a financial document without an exception to an appropriate financial account associated with the financial document such that payment for the user transaction associated with the financial document is completed.

3. The system of claim 1, wherein comparing the extracted metadata from the financial document comprising exceptions to known data associated with financial accounts further comprises:

compiling metadata associated with complete portions of the financial document comprising exceptions.

4. The system of claim 3, wherein comparing the extracted metadata from the financial document comprising exceptions to known data associated with financial accounts further comprises:

compiling metadata associated with partially extracted portions or exception portion from the financial document comprising exceptions.

5. The system of claim 4, wherein comparing the extracted metadata from the financial document comprising exceptions to known data associated with financial accounts further comprises:

comparing both the metadata associated with complete portions of the financial document and metadata associated with partially extracted portions of the financial document to known data associated with financial accounts.

6. The system of claim 5, wherein comparing the extracted metadata from the financial document comprising exceptions to known data associated with financial accounts further comprises:

determining a match between a known financial account and the financial document comprising exceptions based on the comparison of both complete and partial portions of the financial document comprising exceptions.

7. The system of claim 1, wherein identifying data from the transaction documents associated with the user transaction further comprises capturing via optical character recognition, images of various elements of the transaction documents, wherein the various elements are unique to the transaction documents, wherein the identified data is stored as metadata.

8. The system of claim 7, wherein elements of the financial document that comprise the identified data includes one or more of a payor name, a payee name, date, payment amount, account number, or routing number.

9. The system of claim 1, wherein the financial documents comprise one or more of a check, deposit ticket, automated teller machine (ATM) receipt, or general ledger ticket.

10. The system of claim 1, wherein exceptions comprise one or more irregularities in the financial documents such as bad micro line reads, outdated check stork, or misrepresentative checks.

11. The system of claim 1, wherein correcting, automatically, the identified exceptions in the financial documents further comprises:

determining a confidence rating for each of the one or more resolutions, based on comparing the extracted metadata with the data associated with financial institution records; and

transmitting an authorization request to an external system, based on determining that the confidence rating associated with the one or more exceptions is below a predetermined threshold.

12. The system of claim 1, wherein metadata comprises both structural and descriptive metadata, wherein the structural and descriptive metadata includes design, specification, and details from the financial document relating to one or more of account data, dates, payee, payor, addresses, routing numbers, or payment amounts.