Video Check Deposit System Using Electronic Transmission

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Solution Overview

Problem

The existing methods for depositing checks are burdensome for payees, requiring physical visits to banks and time-consuming processes, as they need to convert checks into electronic images for remote depositing.

Innovation Solution

A system that allows users to capture videos of checks using devices like video cameras or video-enabled phones, converting them into video data files, which can be sent to financial institutions for processing and deposit into their accounts, using techniques such as email attachment or live streaming.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Ease of operation

If a payee uses traditional check depositing methods, then the check can be deposited securely, but the payee must physically visit a bank branch and spend time presenting the check to a teller

Engineering Contradiction:

Improvecheck depositing convenienceVSAvoidtime required for check depositing

Core Design Contradiction:

Ease of operationVSLoss of time

Solution Approach 1:

The patent replaces the mechanical process of physically transporting a check to a bank branch with an electronic video transmission system. A video camera captures images of the check, and the video data is transmitted electronically to the financial institution, eliminating the need for physical travel and teller interaction.

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

Solution Approach 2:

The patent creates a video copy of the physical check that can be transmitted electronically. Instead of moving the original check to the bank, a digital reproduction (video) is captured and sent to the financial institution, allowing the payee to deposit the check from any location with a video camera.

Inventive Principle:

Principle #26Copying

2Ease of operation

If a payee scans a check to create an electronic image for remote deposit, then the need for physical bank visits is reduced, but the process requires generating and transmitting still electronic images

Engineering Contradiction:

Improveremote check depositingVSAvoidcomplexity of check conversion process

Core Design Contradiction:

Ease of operationVSDevice complexity

Solution Approach 1:

The patent changes the parameter of the electronic representation from still images to video. Video provides a more complete visual record of the check including security features, and can capture the check in motion or from multiple angles, potentially simplifying verification while maintaining remote deposit capability.

Inventive Principle:

Principle #35Parameter changes

3Reliability

If a payee physically presents a check to a bank teller, then the deposit process is secure, but the payee loses time and must travel to the bank branch

Engineering Contradiction:

Improvedeposit securityVSAvoiddeposit accessibility

Core Design Contradiction:

ReliabilityVSEase of operation

Solution Approach 1:

The patent introduces a video recording as an intermediary between the payee and the financial institution. The video serves as a mediator that conveys the check information electronically, maintaining the security function while enabling remote access and eliminating the need for physical presence at the bank branch.

Inventive Principle:

Principle #24Intermediary (Mediator)

Data Source

PatentUS7912785B1Video financial deposit

Publication Date: 2011.03.22 UNITED SERVICES AUTOMOBILE ASSOCIATION (USAA)

AI summary

A video of a negotiable instrument may be provided from a user to a financial institution so that an image of the negotiable instrument may be obtained from the video and deposited in a user's bank account. In an implementation, a user may use a device such as a video camera, a web camera, or a video-enabled phone to convert an endorsed check into a video data file by making a video of the check and storing the video in a video data file. The user may send the video data file to the financial institution, where it may be processed and deposited in an account associated with the user. Any technique for sending a video data file to the financial institution may be used.