Data lifting for exception processing

• US 9,652,671 B2
• Filed: 02/29/2016
• Issued: 05/16/2017
• Est. Priority Date: 10/29/2013
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Govindarajan, Saravana Kumar, Koo, Hyunmo, Smith, Michael Gerald, Johnson, Scott Andrew, Hjellming, Michael Scott, Hanson, Brian David
• Primary Examiner(s): YANG, WEI WEN
• Application Number:
  US15/056,432
• Publication Number:
  US 20160180165A1
• Time in Patent Office: 442 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 The exceptions may include one or more irregularities such as bad micro line reads, outdated check stock, or misrepresentative checks that may result in a failure to match the check to an associated account for processing.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 computer program product for exception processing of financial documents, the computer program product comprising at least one non-transitory computer-readable medium having computer-readable program code portions embodied therein, the computer-readable program code portions comprising:

an executable portion configured for receiving 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;

an executable portion configured for identifying 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;

an executable portion configured for processing the financial document by identifying exceptions in the meta data 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;

an executable portion configured for determining 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;

an executable portion configured for comparing the exceptions identified in the metadata associated with the financial document to the known data associated with the financial accounts of the user;

an executable portion configured for matching 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 known data associated with financial accounts;

an executable portion configured for identifying 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 computer program product 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 computer program product 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 computer program product 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 computer program product 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 computer program product 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 computer program product 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 computer program product 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 computer program product 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 computer program product of claim 1, wherein exceptions comprise one or more irregularities in the financial documents such as bad micro line reads, outdated check stock, or misrepresentative checks.

11. The computer program product 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 computer program product 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.

13. A computer-implemented method for exception processing of financial documents, the method comprising:

providing a computing system comprising a computer processing device and a non-transitory computer readable medium, where the computer readable medium comprises configured computer program instruction code, such that when said instruction code is operated by said computer processing device, said computer processing device performs the following operations;

receiving 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;

identifying 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;

processing 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;

determining 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;

comparing, via a computer processing device, the exceptions identified in the metadata associated with the financial document to the known data associated with the financial accounts of the user;

matching 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 known data associated with financial accounts;

identifying one or more resolutions associated with the identified exceptions in the financial documents, 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.

14. The computer-implemented method of claim 13, 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.

15. The computer-implemented method of claim 13, 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.

16. The computer-implemented method of claim 15, 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.

17. The computer-implemented method of claim 16, wherein comparing the extracted metadata from the financial document comprising exceptions to known data associated with financial accounts further comprises:

compare 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.

18. The computer-implemented method of claim 17, wherein comparing the extracted metadata from the financial document comprising exceptions to known data associated with financial accounts further comprises:

determine 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.

19. The computer-implemented method of claim 13, 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.

20. The computer-implemented method of claim 19, 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.

21. The computer-implemented method of claim 13, wherein exceptions comprise one or more irregularities in the financial documents such as bad micro line reads, outdated check stock, or misrepresentative checks and 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.

22. The computer-implemented method of claim 13, 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.