Automated Check Disposition System Using Dynamic Parameters

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Solution Overview

Problem

Financial institutions face challenges in organizing, categorizing, and analyzing large quantities of checks due to the varied storage times after processing, necessitating a system for automated disposition based on disposition parameters.

Innovation Solution

A system comprising a processor and memory module that receives check image information, applies disposition parameters, and determines automated disposition, including physical placement in a repository, handling issues such as successful processing, holding, or returning checks, using computer-readable code to execute these actions.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Adaptability or versatility

If checks are stored for varied periods after processing, then flexibility in handling different transaction types is improved, but organizing, categorizing, and analyzing the checks becomes difficult

Engineering Contradiction:

Improveflexibility in handling different transaction typesVSAvoidcomplexity of organizing and categorizing checks

Core Design Contradiction:

Adaptability or versatilityVSDevice complexity

Solution Approach 1:

The system changes the parameter of check disposition from manual determination to automated determination based on disposition parameters. The processor automatically determines disposition actions (permanent disposal, hold period, or return to customer) by applying disposition parameters to check information, eliminating the complexity of manual organization and categorization while maintaining flexibility for different transaction types.

Inventive Principle:

Principle #35Parameter changes

2Productivity

If automated disposition is implemented, then processing efficiency is improved, but system complexity increases

Engineering Contradiction:

Improvecheck processing efficiencyVSAvoidcomplexity of automated disposition system

Core Design Contradiction:

ProductivityVSDevice complexity

Solution Approach 1:

The system enables self-service automated disposition by having the processor automatically determine and execute disposition actions without human intervention. The processor applies disposition parameters to check information and autonomously determines whether to permanently dispose, hold, or return checks, improving efficiency while keeping the system relatively simple through rule-based automation.

Inventive Principle:

Principle #25Self-service

3Loss of substance

If all checks are permanently disposed after processing, then storage needs are reduced, but the ability to handle exceptions or disputes is lost

Engineering Contradiction:

Improvestorage space for checksVSAvoidability to handle exceptions or disputes

Core Design Contradiction:

Loss of substanceVSReliability

Solution Approach 1:

The system introduces dynamic disposition determination based on check-specific factors. Instead of a static permanent disposal policy, the processor dynamically evaluates each check against disposition parameters and determines the appropriate action. This allows checks to be permanently disposed, held for a period, or returned to customers based on individual circumstances, reducing storage needs while maintaining reliability for exception handling.

Inventive Principle:

Principle #15Dynamics

Data Source

PatentUS10460296B2System for processing data using parameters associated with the data for auto-processing

Publication Date: 2019.10.29 BANK OF AMERICA CORP

AI summary

Systems, computer program products, and methods are described herein for processing a set of information associated with a check image using one or more disposition parameters to determine an automated disposition of the check associated with the check image. The present invention is configured to receive a set of information associated with a check image; receive one or more disposition parameters associated with a financial institution; apply the one or more disposition parameters to the set of information associated with the check image; determine automated disposition of the check based on at least applying the one or more disposition parameters to the set of information associated with the check image; and execute the automated disposition of the check.