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Computer-based system for transactions processing

By introducing customer-accessible account management functions and automatic processing mechanisms into the transaction processing system, the problems of inefficiency and inaccuracy in transaction processing in the existing system are solved, transaction efficiency and transparency are improved, and resource consumption and costs are reduced.

Inactive Publication Date: 2006-10-11
SWISS REINSURANCE CO LTD
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  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Problems solved by technology

These inefficiencies potentially lead to lost revenue and imprecise or delayed accounting

Method used

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  • Computer-based system for transactions processing
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  • Computer-based system for transactions processing

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Embodiment Construction

[0032] Exemplary systems and methods according to the present invention utilize a common interface between customers and merchants to facilitate transactions between customers and merchants. The exemplary systems and methods presented herein reduce the time and labor associated with conventional claims processing procedures, resulting in reduced costs and increased efficiency of transactions between the parties. Although the exemplary embodiments described herein were made with reference to the reinsurance industry as an example, the invention is not limited to this type of business. Other types of merchants can benefit from the exemplary systems and methods presented here. For example, insurance companies, government agencies, and other entities that allocate funds or licenses, or other similar businesses or organizations, may benefit from the systems and methods described herein to suit a particular organization with anticipated modifications apparent to those skilled in the...

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Abstract

A computer-based system for transacting business between a customer (210) and a business organization (230) comprises a server (240) which is accessible by the customer (210) via a telecommunication network (220) and which houses a customer account containing account bookings associated with the customer (210). The server (240) is configured for the customer (210) to select via the telecommunication network (220) a function to be processed automatically, the function enabling the customer (210) to select via the telecommunication network (220) open items from a list of account bookings. The server (240) calculates a balance for the items selected, considering a debit or a credit status associated with each of the account bookings. The calculated balance is compared to a predetermined amount and the items selected are set off without payment when the balance is below the predetermined amount. On one hand, the customers (210) have full transparency of postings and are enabled to reconcile their accounts without involving personnel from the business organisation. On the other hand, the requirements on the technical infrastructure for executing data and financial transactions and for invoicing are reduced in that the customers (210) have the ability to interact and trigger financial transactions, depending on the credit / debit balance positions.

Description

technical field [0001] The present invention relates to a computer-based system for transaction processing and a computer program product therefor. More specifically, the present invention relates to a computer-based system for receiving orders and processing payments while maintaining accounting for individual accounts. In particular, the present invention relates to a computer-based system for transacting purchases and sales between a customer and a business organization, the system comprising a server used by the business organization and accessible by the customer through a telecommunications network, and a customer account housed on the server, the customer Account contains the account billing associated with the customer. Background technique [0002] Filling customer orders, invoicing customer bills, and processing customer payments are among the most common transaction processes. However, these simple interactions continue to be a source of errors and inefficiencie...

Claims

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Application Information

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Patent Type & Authority Applications(China)
IPC IPC(8): G06Q20/00G06Q30/00G06Q40/00
CPCG06Q40/02G06Q20/102G06Q20/14G06Q30/04G06Q40/08G06Q20/10G06Q20/00
Inventor 于尔根·普兰格
Owner SWISS REINSURANCE CO LTD
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