Telewire Wire Transfer Authorization via ANI Verification
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Solution Overview
Problem
Current telephone/fax-based wire transfer methods are prone to fraud, labor-intensive, and experience delays due to errors in data entry and authorization processes, particularly in traditional systems where agents must manually handle faxes and verify information.
Innovation Solution
Implementing a telewire system that uses a Public Switched Telephone Network (PSTN) with a telewire service provider, which includes a PBX, telewire server, fax server, and authorization terminal to automate the wire transfer process by capturing Automatic Number Identification (ANI) for verification, automatically filling order fields, and enabling NoFAXBack transactions for automatic authorization after successful fax transmission.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If manual fax verification and authorization processes are used, then agents can initiate wire transfers using traditional telephone networks, but the process becomes labor-intensive and prone to fraud
Solution Approach 1:
The patent replaces manual mechanical processes (physical fax handling, manual verification) with automated electronic systems including fax servers, PBX systems, and computer-based verification processes. The system automatically captures ANI data, verifies agent identity through automated lookups, and processes authorizations electronically, eliminating the need for manual fax handling while maintaining compatibility with traditional telephone networks.
Solution Approach 2:
The system implements automated feedback loops where the PBX captures ANI information, the system automatically verifies the calling agent's identity against stored credentials, and provides immediate confirmation or rejection of authorization requests. This automated feedback mechanism replaces manual verification and reduces fraud risk by ensuring only authenticated agents can initiate transfers.
2Adaptability or versatility
If manual data entry and fax handling are required, then traditional telephone equipment can be used, but delays occur due to errors and labor intensity
Solution Approach 1:
The system enables self-service automation where the PBX and fax server automatically perform data capture, verification, and authorization processing without requiring manual agent intervention for each step. The system autonomously handles fax transmission, ANI verification, and authorization decision-making, dramatically improving transaction speed while maintaining compatibility with traditional telephone equipment.
Solution Approach 2:
The system performs preliminary actions by pre-storing agent credentials, pre-configuring authorization rules, and pre-establishing fax transmission protocols. When an agent initiates a transfer, the system has already prepared verification criteria and authorization parameters, allowing for rapid automated processing without manual data entry or step-by-step verification delays.
3Reliability
If automated ANI verification and NoFAXBack transactions are implemented, then fraud is reduced and authorization is faster, but system complexity increases
Solution Approach 1:
The patent implements multi-functional components where the PBX system serves both traditional telephone switching and automated ANI verification functions. The fax server handles both incoming and outgoing faxes while integrated with the authorization system. This universal design allows existing telephone equipment to perform multiple functions, reducing the need for separate dedicated systems and managing complexity through consolidation.
Solution Approach 2:
The system introduces intermediary components such as the fax server and PBX integration layer that mediate between traditional telephone equipment and the automated verification system. These intermediaries translate and coordinate between different systems, allowing complex automated functions to be implemented while maintaining compatibility with simple traditional equipment, effectively managing system complexity through layered architecture.
Data Source
AI summary
Methods and systems for automatic verification and/or authorization of wire transfers by a telewire service provider are described. In one embodiment, a wire transfer agency database stores agency information including verified telephone numbers for each agency. When a wire transfer order is placed from a verified telephone number, automatic number identification transmitted with the telephone call is detected, the order is only allowed to be processed automatically if that telephone number in the database matches the calling agency, and the order receipt is successfully sent to that agency. Because the agency has been automatically associated with the order, the possibility of fraud and/or error is decreased, and the wire transfer can be automatically authorized after a delay time allowing the agency to issue changed instructions. Other embodiments are described and claimed.