Automated Payment Processing System for Child Support
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Solution Overview
Problem
Existing systems for processing child support payments are prone to errors due to human intervention, with up to 40% of payments requiring correction, and are inefficient, as they rely on manual operations despite using machines and integrated software.
Innovation Solution
A method and system that utilizes image capture machines, integrated software programs, and automated workflows to recognize and process payments automatically, minimizing human intervention by using the WorkFlow Manager and Intelligent Remittance Recognition programs to validate and apply payments to the appropriate accounts.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If manual operations are used in payment processing systems, then human intervention can correct errors, but error rates increase and processing efficiency decreases
Solution Approach 1:
The system uses automated image capture machines, optical character recognition software, and intelligent remittance recognition programs to process payments independently without human intervention. The system automatically validates payment data, matches payments to obligations, and handles exceptions, enabling the payment processing system to serve itself and eliminating human error while maintaining high efficiency
Solution Approach 2:
The patent replaces manual mechanical operations with automated electronic systems. Image capture machines scan payment documents, software programs extract and validate data automatically, and computer systems route payments electronically. This substitution of mechanical human operations with automated electronic processes eliminates human error and dramatically increases processing speed and efficiency
2Productivity
If automated systems are implemented, then processing efficiency increases, but adaptability to diverse remittance formats decreases
Solution Approach 1:
The intelligent remittance recognition program is designed with universal capabilities to recognize and process multiple types of remittance documents including checks, money orders, cash payments, and electronic transfers. The system uses optical character recognition and intelligent algorithms that can adapt to various layouts, formats, and document types, allowing a single automated system to handle diverse payment sources while maintaining high processing efficiency
Solution Approach 2:
The system dynamically adjusts its processing parameters and recognition algorithms based on the specific remittance format encountered. The intelligent remittance recognition software can change its data extraction patterns, validation rules, and routing logic to accommodate different document types and formats, enabling the automated system to maintain both efficiency and adaptability across diverse payment formats
Data Source
AI summary
A payment processing method and system is described which involves serially processing remittance documents, e.g. financial instruments, remittances, and associated documents obtained from diverse sources, electronically scanning the financial instruments and other remittance documents, thereby converting the information contained thereon into a digital format. The digital information is passed through a series of software programs and associated hardware that read the scanned financial instruments, remittances, and other documents, and compares the information obtained with preexisting information about the payor, detects errors, and the like automatically, with minimal human intervention. It also allows the information to be corrected and passed to a check encoding machine or process which imparts desired information on said checks before they are sent to a bank for deposit.The system is a plurality of electronically interconnected machines and computer servers having unique software programs installed therein, thereby allowing the remittances, financial instruments, and other documents to be processed automatically with a minimum of human interactions.