System and Method for Back Office Processing of Banking Transactions Using Electronic Files

Abstract

As banking transactions are processed by a bank teller, all of the relevant information with respect to the transaction (e.g., dollar amount) is captured in an electronic file. Each of the electronic files from the various branches of the bank are forwarded to a central back office processing center where the electronic files are combined into a single Transaction Repository. At the end of the branch day, all of the paper associated with the transactions is forwarded from the branches to the back office processing center. The paper transactions are imaged in the conventional manner and the Magnetic Ink Character Recognition (MICR) data is read from the paper. The present invention then automatically correlates the images and MICR data captured from the paper with the complete transaction record contained in the Transaction Repository. Most of the conventional back office processing can now be performed without the need to perform character recognition and without the need for excess human intervention.

1 . A computer-implemented back office system for processing banking transactions, at least some of the banking transactions involving paper documents, the system comprising:
 a computer processor at a back office processing location;   at least one storage medium coupled to the computer processor; and   a communication interface;   wherein the computer processor is configured to:
 receive, at the back office processing location and via the communication interface, a data feed containing first transaction data captured electronically in connection with at least one banking transaction performed remotely from the back office processing location; 
 store, in the at least one storage medium, the first transaction data; 
 generate second transaction data from at least one captured image of at least one paper document associated with the at least one banking transaction; 
 store, in the at least one storage medium, the second transaction data; 
 link the first and second transaction data with respect to a common banking transaction; and 
 perform back office financial processing with respect to the common banking transaction based on the linked first and second transaction data. 
   
     
     
         2 . The computer-implemented back office system of  claim 1 , wherein the at least one captured image of the at least one paper document is generated at a location other than the back office processing location. 
     
     
         3 . The computer-implemented back office system of  claim 2 , wherein the location is where the at least one banking transaction takes place. 
     
     
         4 . The computer-implemented back office system of  claim 1 , wherein the computer processor is configured to generate the second transaction data further based on MICR data read from the at least one paper document. 
     
     
         5 . The computer-implemented back office system of  claim 1 , wherein the data feed is received from one or more computers associated with one or more banking branch offices. 
     
     
         6 . The computer-implemented back office system of  claim 1 , wherein the data feed is received from one or more computers associated with automated teller machines (ATMs). 
     
     
         7 . The computer-implemented back office system of  claim 1 , wherein the at least one paper document is selected from a group consisting of checks and deposit slips. 
     
     
         8 . The computer-implemented back office system of  claim 1 , wherein the at least one captured image is subject to Character Recognition. 
     
     
         9 . The computer-implemented back office system of  claim 1 , wherein the computer processor is further configured to identify a missing paper document. 
     
     
         10 . The computer-implemented back office system of  claim 9 , wherein the computer processor is further configured to supplement the second transaction data based on the corresponding first transaction data. 
     
     
         11 . A computer-implemented method for back office processing of banking transactions, at least some of the banking transactions involving paper documents, the method comprising:
 receiving, at a back office processing computer and via a communication interface, a data feed comprising first transaction data reflecting captured electronically during at least one banking transaction performed remotely from the back office processing computer;   storing, in at least one storage medium, the first transaction data;   generating, by at least one computer processor, second transaction data from at least one captured image of at least one paper document associated with the at least one banking transaction;   storing, in the at least one storage medium, the second transaction data;   linking, by the at least one computer processor, the first and second transaction data with respect to a common banking transaction; and   performing, by the at least one computer processor, back office financial processing with respect to the common banking transaction based on the linked first and second transaction data.   
     
     
         12 . The computer-implemented method of  claim 11  wherein the at least one captured image of the at least one paper document is generated at a location other than that of the back office processing computer. 
     
     
         13 . The computer-implemented method of  claim 12 , wherein the location is where the at least one banking transaction takes place. 
     
     
         14 . The computer-implemented method of  claim 11 , further comprising:
 generating the second transaction data based at least in part on MICR data read from the at least one paper document.   
     
     
         15 . The computer-implemented method of  claim 11 , wherein the data feed is received from one or more computers associated with one or more banking branch offices. 
     
     
         16 . The computer-implemented method of  claim 11 , wherein the data feed is received from one or more computers associated with automated teller machines (ATMs). 
     
     
         17 . The computer-implemented method of  claim 11 , wherein the at least one paper document is selected from a group consisting of checks and deposit slips. 
     
     
         18 . The computer-implemented method of  claim 11 , wherein the at least one captured image is subject to Character Recognition. 
     
     
         19 . The computer-implemented method of  claim 11 , further comprising:
 identifying a missing paper document.   
     
     
         20 . The computer-implemented method of  claim 19 , further comprising:
 supplementing the second transaction data based on the corresponding first transaction data.   
     
     
         21 . A non-transitory computer readable medium having computer executable instructions for back office processing of banking transactions, the computer executable instructions being configured to cause at least one computer processor to perform:
 receiving, at a back office processing location and via the communication interface, a data feed containing first transaction data captured electronically in connection with at least one banking transaction performed remotely from the back office processing location;   storing, in the at least one storage medium, the first transaction data;   generating second transaction data from at least one captured image of at least one paper document associated with the at least one banking transaction;   storing, in the at least one storage medium, the second transaction data;   linking the first and second transaction data with respect to a common banking transaction; and   performing back office financial processing with respect to the common banking transaction based on the linked first and second transaction data.