Note: Descriptions are shown in the official language in which they were submitted.
RECIPIENT MANAGEMENT IN COMPUTER NETWORK INITIATED DATA
TRANSFERS
TECHNICAL FIELD
[0001] This relates to computer network initiated data transfers, and more
particularly to managing addresses associated with recipients of such
transfers.
BACKGROUND
[0002] Modern computing systems and networks are frequently used to
initiate data
transfers. Errors in directing such transfers still occur. Often, the errors
originate with
a sender and are caused by initiating a data transfer to an incorrect
recipient - for
example to a recipient associated with incorrect or outdated addressing
particulars.
[0003] Not surprisingly, such errors consume network and other resources.
Not
only do such errors often result in unnecessary network messages and
associated
data transfer, often the erroneous data transfers need to be reversed
requiring
additional steps/data transfers to be initiated and completed.
[0004] In addition to unnecessarily requiring network resources, erroneous
dispatch
of data may give rise to unintended consequences. For example, if the data
transfer
results in the delivery of additional good or services, then these may need to
be
cancelled or returned. Often unpredictable delays are incurred in identifying
the
erroneous initiation of data transfers, reversing them, and finally initiating
correct
transfers.
[0005] Accordingly, there is a need for method, devices and systems that
allow for
the better management of network initiated transfers that allow senders to
better
manage recipients and their network addresses.
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SUMMARY
[0006] According to an aspect, there is provided a computerized data
transfer
system, for allowing data transfers to be initiated over a computer
communications
network between senders and recipients, by way of sender devices, each
including a
processor coupled to a memory storing processor executable instructions
operable to
present an interface allowing an associated individual sender to initiate data
transfers
over the network by selecting a recipient from a list of recipients, the
system
comprising: a data store of sender specific recipients, the data store of
sender specific
recipients including for each of the senders, a profile of recipients for
which data
transfers can be initiated by that sender and for presentation in the list of
recipients for
that sender; a data transfer history data store of past data transfers made by
each of
the senders; a master participant data store that stores profiles of
recipients for which
data transfers can be initiated over the computer communications network; a
computing device including persistent computer readable memory coupled to a
processor adapting the computing device to: for a selected sender, retrieve
entries of
the data store of sender specific recipients, the master participant data
store and the
data transfer history data store; generate a predicted transfer profile for
each recipient
in the data store of sender specific recipients for the selected sender, based
on past
data transfers in the data transfer history data store and the master
participant data
store, to identify deviations in data transfers to the recipients from the
predicted
transfer profiles; and update the data store of sender specific recipients for
the
selected sender to update entries for recipients associated with the
deviations, as
identified.
[0007] According to another aspect, there is provided a method of
configuring a
computer interface for use by a sender in initiating electronic data transfers
over a
computer communications network, the method comprising: maintaining a data
store
of sender specific recipients, the data store of sender specific recipients
including
identifiers of recipients for which data transfers can be initiated by the
sender, for
presentation in a user interface to receive a recipient selection; maintaining
a master
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participant data store that stores profiles of recipients for which data
transfers can be
initiated over the computer communications network; maintaining a data
transfer
history data store of data transfers made by the sender; generating a
predicted
transfer profile for each recipient in the data store of sender specific
recipients, based
on past data transfers in the data transfer history data store and the master
participant
data store, to identify deviations in data transfers to that recipient from
the predicted
transfer profile; updating the data store of sender specific recipients to
update entries
for recipients associated with the deviations, as identified; and extracting
entries of the
data store of sender specific recipients, as updated and presenting the user
interface
comprising a list for selection of a recipient, the list reflective of the
updating.
[0008] According to another aspect, there is provided a computing system for
configuring a computer interface for use by a sender in initiating electronic
data
transfers over a computer communications network, comprising: a data store of
sender
specific recipients, the data store of sender specific recipients including
identifiers of
recipients for which data transfers can be initiated by the sender, for
presentation in a
user interface to receive a recipient selection; a master participant data
store that
stores profiles of recipients for which data transfers can be initiated over
the computer
communications network; a data transfer history data store of data transfers
made by
the sender; at least one processing unit storing executable instructions that
cause the
processing unit to: generate a predicted transfer profile for each recipient
in the data
store of sender specific recipient, based on past data transfers in the data
transfer
history data store and the master participant data store, to identify
deviations in data
transfers to that recipient from the predicted transfer profile; update the
data store of
sender specific recipients to update entries for recipients associated with
the
deviations, as identified; and extract entries of the data store of sender
specific
recipients, as updated and present the user interface comprising a list for
selection of
a recipient, the list reflective of the updating.
[0009] Other features will become apparent from the drawings in conjunction
with
the following description.
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BRIEF DESCRIPTION OF THE DRAWINGS
[0010] In the figures which illustrate example embodiments,
[0011] FIG. 1 is a simplified block diagram of an exemplary computerized
data
transfer system;
[0012] FIG. 2 is a simplified block diagram of a user computing device of
the
system of FIG. 1;
[0013] FIG. 3 is a simplified block diagram illustrating the organization
of memory at
the computing device of FIG. 2;
[0014] FIG. 4 illustrates a user interface at the device of FIG. 2;
[0015] FIG. 5 is a simplified block diagram of a server computing device of
the
system of FIG. 1;
[0016] FIG. 6 is a simplified block diagram illustrating the organization
of memory at
the server computing device of FIG. 5;
[0017] FIG. 7-9 illustrate the organization of data stores of the system of
FIG. 1;
[0018] FIG. 10 illustrates message flows in initiating a data transfer
using the
system of FIG. 1;
[0019] FIG. 11 is a flowchart used in the population of data store of FIG.
8; and
[0020] FIG. 12 is a flowchart used in maintaining the data store of FIG. 7.
DETAILED DESCRIPTION
[0021] FIG. 1 depicts a computing system 100, exemplary of an embodiment.
As
will become apparent, system 100 allows users at a user device 106-1, 106-2,
106-3,
106-4 to initiate data transfers directed to other recipient users (such as
other users at
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devices 106-1, 106-2, 106-3, 106-4).
[0022] As illustrated, system 100 includes transfer initiating servers 102
and 104.
Users devices 106-1, 106-2, 106-3, 106-4 (individually and collectively user
device(s)
106) are also depicted. Servers 102, 104 and devices 106 are in communication
with
a computer communications network 110.
[0023] End-user computing devices 106 are also depicted. Computing devices
106
may be personal computing devices, such as for example, home (personal)
computing
devices (e.g. device 106-2, 106-3); mobile devices (e.g. device 106-1, 106-4);
or other
portable computing devices. Without limitation, devices 106 may be part of a
mobile
computing device such as a cellular telephone or tablet device or laptop
computer,
desktop computer, workstation, server, personal digital assistant, interactive
television,
video display terminal, gaming console, electronic reading device, or any
other
portable electronic device, or a combination of these.
[0024] Computing devices 106 may execute user software ¨ in the form of
software
allowing customers at devices 106 to initiate data transfers over network 110 -
in
manners exemplified herein. In some embodiments, the data transfers initiate
electronic fund transfers between senders (payors) and recipients (payees),
and give
rise to transfer of funds from payors to payees. Optionally, this software may
allow for
the receipt of notification of such transfers from other senders.
[0025] User software may take the form of software that is stored within
persistent
memory at each device 106, or may take the form of a suitable software
component
allowing devices 106 to execute software as a service provided by a server ¨
such as
servers 102, 104, or another server associated with a user or his/her service
provider.
[0026] Data transfer servers 102, 104 in response to receiving a transfer
initiating
message from a sender at a device 106, by way of network 110 contacts a data
transfer server 102 associated with a recipient, by way of optional additional
server
108. As noted, the data transfer may be indicative of a financial transaction,
in the
CA 3014835 2018-08-21
form of payment of funds transfer, or a request for the delivery of goods or
services, or
the like. At a recipient server 104, the transaction may be further processed
and/or
completed. For example, an account of the recipient may be credited.
Additionally,
optionally, a message may be provided to a user at device 106 of the
recipient.
[0027] As will be appreciated, in an example embodiment in which funds are
transferred between senders and recipients, senders may be recipients and vice
versa. Each sender/recipient is a customer of a financial institution (Fl).
[0028] In the depicted embodiment, servers 102, 104 may allow electronic
fund
transfer services to customers associated with financial institutions (Fls) A
and B,
respectively. Example devices 106-1 and 106-2 of FIG. 1 are associated with Fl-
A
(e.g. are device of customers of Fl-A). Example devices 106-3 and 106-4 are
associated with Fl-B (e.g. are devices of customers of Fl-B).
[0029] Fls may be banks, trust companies, savings and loans, insurance,
companies or the like. Only two Fls ¨ Fl A, and Fl B and associated computing
devices
are depicted in FIG. 1. However system 100 may easily include computing
devices of
additional Fls. Likewise, for simplicity only four devices 106 are
illustrated. In practical
embodiments, thousands of devices 106, or more, may be associated with each Fl-
A
and Fl-B.
[0030] In the depicted embodiment, server 102 and server 104 act as either
sender
or recipient servers, and can thus initiate a data transfer (when acting as a
sender
server), or be the recipient of a data transfer (when acting as a recipient
server). As
will be appreciated, each Fl could separate the functions of a sender server
and
recipient server across separate servers, or integrate these functions in
other
computing systems (e.g. a bank's primary accounts computing system, or the
like).
[0031] System 100 further includes an optional reconciliation server 108
that may
mediate data transfers between servers 102, 104. Reconciliation server 108
may, for
example, track total transfers between Fls, so that actual net funds that need
be
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exchanged between financial institutions need only be exchanged periodically
(e.g.
daily, weekly or monthly). Reconciliation server 108 may, for example, form
part of an
interbank network.
[0032] Fl-A further hosts, or has access to one or more data stores.
Example data
stores 120-1, 120-2 and 120-3 associated with Fl-A are depicted. Example data
stores 120-4, 120-5 and 120-6 associated with Fl-B are depicted.
[0033] Each of data stores 120-1, 120-2, and 120-3 are repositories for
persistently
storing and managing data. Data stores 120-1, 120-2 and 120-3 may, for
example, be
relational data bases, or other data structures ¨ including files, or the
like, stored on
computer readable media. The computer readable media may be part of network
accessible storage (NAS), accessible through network 110. Software ¨ in the
form of
a database management systems (DBMS) software may further be stored at data
stores 120-1, 120-2, 120-3 for execution at those data stores. Alternatively,
software
used to access data stores 120-1, 120-2 and 120-3 may be stored and executed
elsewhere, on other computing devices ¨ for example at server 102.
[0034] Address data store 120-1 stores particulars of recipients of
transfers for
multiple senders ¨ for example associated with device 106-1 and 106-2. Data
store
120-1 stores particulars of sender specific recipients including for each of
the senders
at devices 106 associated with (e.g. that are customers of) Fl-A, a profile of
recipients
for which data transfers can be initiated by that sender and for presentation
to that
sender. Data store 120-1 is thus maintained by, or on behalf of Fl-A.
Recipients may
be associated with Fl-A, the Fl of the sender, or with other Fls, for example
Fl-B, in
FIG. 1. The profile for each recipient stored in data store 120-1 may include
a
network or similar address of recipients allowing data transfer to be
initiated over
network 110.
[0035] Data store 120-2 is a master participant data store that stores
profiles of
recipients for which data transfers can be initiated over the computer
communications
network, by customers associated with Fl-A.
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[0036] Data store 120-3 is a further data store that stores particulars of
past
transfers made by each of the senders at Fl-A.
[0037] Data store 120-4 is an address data store (like data store 120-1)
maintained
by Fl-B, that stores particulars for multiple senders associated with Fl-B.
Likewise
data store 120-5 is a master participant data store that stores profiles of
recipients for
which data transfers can be initiated over the computer communications
network, by
customers associated with Fl-B. Data store 120-6 is a further data store that
stores
particulars of past data transfers made by each of the senders at Fl-A.
[0038] Communications network 110 may be a packet switched network, and may
for example be the public switched internet, or a private network, and may for
example
support TCP/IP based protocols. Network 110 may include, or be in
communication
with, a collection of private and public networks, and may include one or more
cellular
radio network or other wireless networks, for communication with suitable user
devices
106, wirelessly. As depicted, device 106-1 and 106-4 may be wireless devices,
such
as cellular handsets; tablets or the like.
[0039] FIG. 2 is a simplified block diagram of a device 106 of FIG. 1,
exemplary of
an embodiment.
[0040] As illustrated, user device 106 includes one or more processors 21,
a
memory 22, and one or more input/output (I/O) interfaces 24, and network
interface(s)
23; all in communication with each other by way of bus 25. Device 106 may
include
suitable user input/output components such as a touch screen (in case device
106 is a
cellular handset; tablet or the like); or monitor, mouse and keyboard (if
device 106 is a
desktop computing device).
[0041] One or more processor(s) 21 may be one or more Intel x86, Intel x64,
AMD
x86-64, PowerPC, ARM processors or the like, and may include a single or
multiple
processing cores.
[0042] Memory 22 is computer readable memory and may include random-access
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memory, read-only memory, or persistent storage such as a hard disk, a solid-
state
drive or the like. A computer-readable medium may be organized using a file
system,
controlled and administered by an operating system governing overall operation
of the
computing device, and may further store multiple software applications.
[0043] Software including instructions is executed by processor(s) 21 from
a
computer-readable medium. For example, software may be loaded into random-
access memory from persistent storage of memory 22 or from one or more devices
via
I/O interfaces 24 for execution by one or more processors 21. As another
example,
software may be loaded and executed by one or more processors 21 directly from
read-only memory.
[0044] An I/O interface 24 serves to interconnect the computing device to
allow
user interaction with device 106. For example, a touch screen may be adapted
to
allow rendering images on a touch screen display that is also operable to
sense touch
interaction.
[0045] One or more I/O interfaces 24 may serve to interconnect computing
device
106 with its peripheral devices, such as for example, keyboards, mice, or the
like.
[0046] Network interface 23 includes one or more conventional network
interfaces
suitable for communication with other network enabled devices, and ultimately
network
110 (FIG. 1). For example, network interface 23 may include an Ethernet;
Bluetooth,
WiFi, cellular radio(s), or other similar interfaces adapted to interconnect
device 106 to
network 110.
[0047] FIG. 3 depicts a simplified organization of example software
components
stored within memory 22 of device 106. As illustrated, these software
components
include operating system (OS) software 31 and user software 32.
[0048] OS software 31 may be, for example, Android OS, Apple i0S, Microsoft
Windows, UNIX, Linux, Mac OSX, or the like. OS software 31 allows software 32
to
access one or more processors 21, memory 22, network interface 23, and one or
more
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I/O interfaces 24 of device 106.
=
[0049] OS software 31 may provide an application programming interface
(API) to
allow the generation and execution of user applications, such as those
described
herein. OS software 31 may also include a Java compiler and a Java virtual
machine
and thus be able to execute java code.
[0050] User software 32 may include one or more transfer initiating
application(s)
33. Transfer application(s) 33 may for example, be a bill payment, or purchase
application. In a particular embodiment, transfer application 33 may be a
consumer
banking application, allowing a user at device 106 to initiate a variety of
financial
transactions.
[0051] Alternatively or additionally user software 32, may include a web
browser 35,
or similar html, xml or other structured language interpreter. The web browser
35 or
similar application may further include a Javascript interpreter. As will be
appreciated,
web browser 35 may present a user interface to a further application or applet
forming
part of user software 32. INIternatively, web browser 35 may present an
application to
a server-side application, executing for example, at server 102.
[0052] Suitable code may be pre-loaded into memory 22 at device 106, or may
be
loaded from a network interconnected server (e.g. server 102, or an
application
repository) on demand ¨ when required, or a combination thereof.
[0053] Example transfer application(s) 33 may initiate electronic funds
transfer
(EFT) between senders (acting a payors) and recipients (acting as payees), at
the
same or at different Fls.
[0054] As noted, devices 106-1 and 106-2 may for example be personal computing
devices of customers at Fl-A. Devices 106-3 and 106-4 may be personal
computing
devices of customers at Fl-B. Customers may, for example, be retail banking
customers or commercial banking customers.
CA 3014835 2018-08-21
[0055] An example screen of a user interface (UI) 140 provided by
application 33
that is presented to a user at device 106 to allow such data transfers to be
initiated is
depicted in FIG. 4.
[0056] As illustrated, Ul 140 includes a selection field 142 that allows
user selection
of a transfer recipient to which a transfer is to be initiated. Selection
field 142 may be
a drop-down box, and may present a list of choices, each representing a
possible
recipient. Ul 140 further includes an amount entry field 144 that specifies an
amount
of the transfer to be initiated. Ul 140 further includes a button 146 that
allows the
initiation of a transfer to a recipient chosen in selection field 142, for an
amount
specified in entry field 144.
[0057] Ul 140 may include further screens (not illustrated) allowing a user
to
otherwise interact with an associated Fl of the user. For example, Ul 140 may
present
a screen allowing a user to view and modify his/her personal information
(name,
address, etc.); a further screen to allow the user to view recent transactions
(e.g.
payors/payees; amounts; and dates); and further screens to order related
products or
services.
[0058] FIG. 5 is a high-level block diagram of server 102, exemplary of
embodiments. Server 104 (FIG. 1) may be identical in structure. Server 108 may
have
the same structure.
[0059] As illustrated, server 102, is a computing device, includes one or
more
processors 210, a memory 220, a network interface 230 and one or more I/O
interfaces 240 in communication with each other over bus 250.
[0060] Processors 210 may be one or more Intel x86, Intel x64, AMD x86-64,
PowerPC, ARM processors or the like, having one or multiple computing cores.
[0061] Memory 220 may include random-access memory, read-only memory, or
persistent storage such as a hard disk, a solid-state drive or the like. Read-
only
memory or persistent storage is a computer-readable medium. A computer-
readable
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medium may be organized using a file system, controlled and administered by an
operating system governing overall operation of the computing device.
[0062] Network interface 230 serves as a communication device to
interconnect the
computing device with one or more computer networks such as, for example, a
local
area network (LAN) or a wide area network (WAN), like the Internet. Network
interface 230 may, for example, be an Ethernet or similar interface.
[0063] One or more I/O interfaces 240 may serve to interconnect server 102
with
peripheral devices, such as for example, keyboards, mice, and the like.
Optionally,
network controller 230 may be accessed via the one or more I/O interfaces.
[0064] FIG. 6 illustrates the organization of software 222 at stored in
memory 220
of server 102.
[0065] Software 222 including instructions to be executed by one or more
processors 210 from a computer-readable medium. For example, software 222 may
be
loaded into random-access memory from persistent storage of memory 220 or from
one or more devices via I/O interfaces 240 for execution by one or more
processors
210. As another example, software may be loaded and executed by one or more
processors 210 directly from read-only memory.
[0066] Software 222 may include an operating system 202, and server side
application software 206. Operating system 202 may be Windows Server; macOS
Server; Linux based, or other server software. Server software 206 may include
a web
server software 204 capable of serving http, or similar code for presentation
of html
pages, by a complementary browser/application 35/33 at device 106.
Additionally,
server software 206 may allow for execution of server side applications.
[0067] Software 222 (and in particular application software 206) allows
data
transfers to be performed over computer communications network between senders
and recipients, by way of sender devices 106. Specifically, software 206
includes a
transfer initiating component 208. Likewise server 102 may store software to
receive
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an indication of a data transfer from another server (e.g. server 104/102, or
server
108) ¨ depicted as a transfer receipt component 216.
[0068] To that end, transfer initiating component 208 provides data to user
devices
106 to allow senders at these devices to select suitable recipients of data
transfers. In
particular, transfer initiating component 208 may provide users at device 106
with
sufficient data to present list selection block 142 in Ul 140 (FIG. 5), thus
allowing an
associated individual user, acting as sender, to initiate data transfers to
sender specific
recipients, over network 110 by selecting a recipient from the list of
possible recipients.
List selection block 142 may be populated from data identifying sender
specific
recipients, stored in data store 120-1.
[0069] Example data stores 120-1, 120-2 and 120-3 are maintained, for
example,
by Fl-A to better manage particulars of recipients of data transfers. Data
stores 120-1,
120-2 and 120-3 are further illustrated in FIGS. 7-9. Data stores 120-4, 120-5
and
120-6 may be identical data stores to data stores 120-1, 120-2 and 120-3, but
maintained by Fl-B. These are not separately detailed. Data stores 120-1, 120-
2 and
120-3 may be accessible by server software 206.
[0070] As illustrated in FIG.7, data store 120-1 is an address data store
of sender
specific recipients. Sender specific recipients may be those recipients (e.g.
payees)
identified by a particular customer (e.g. sender) of an Fl (e.g. Fl-A) as a
possible
recipient of funds through a sender initiated transaction by a specific
sender. Sender
specific recipients may for example be input by individual users at device
106. Again
data store 120-1 may be a list of entries stored in a database or the like.
For
customers of Fl-A, such data store 120-1 may be stored at server 102, or
another
network accessible storage device of Fl-A, or possibly even at multiple device
106.
[0071] As illustrated, data store 120-1 in FIG. 7, may include, for each
sender of Fl-
A, a list (possible organized as records in one or more data base tables)
identifying
possible recipients of transfers by that sender. For each recipient (payee),
the
physical address of the payee may be maintained, as well as an account number,
and
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a network address. The network address may be an electronic funds transfer
address, or other address sufficient to route data and/or funds to a
recipient. In an
embodiment, the address may be the SWIFT code of the recipient Fl that may
optionally be combined with a unique account number of a recipient. In other
embodiments the address may be an email address of the recipient.
[0072] Fl-
A further maintains data store 120-3 depicted in FIG. 9. Data store 120-3
includes information about past transactions made by customers of Fl-A. For
example, data store 120-3 may include a table or similar structure, storing
records or
entries reflecting all transfers made by an associated customer of Fl-A. In
the example
embodiment, each record may identify debits and/or credits made to one or more
bank
accounts of customers at Fl-A, or a subset of such debits and/or credits. Data
store
120-3 may take the form of a relational or other database including one or
more tables
for storing entries in a related way. Entries of data store 120-3 may take the
form of
records of this database, organized in tables, with each table holding
transaction
records for a single customer, or a single account for a single customer of Fl-
A. Each
record may include a payee name/address, and amount, and transfer type (e.g.
deposit; electronic transfer; or the like). A further entry of data store 120-
3 may
contain particulars of the payor ¨ including a payer name; address; address
change
date; account balance; etc. For illustration purposes this data is depicted in
the same
table as transaction records in FIG. 9. However, the personal data may be
stored in a
separate linked table. Other structures for data stores 120-3 will be apparent
to those
of ordinary skill.
[0073] As transactions are made by customers of Fl-A, entries are added to
data
store 120-3, reflecting each transaction. Optionally, all financial
transactions made by
the customers (including financial transactions not initiated by system 100)
may be
added to data store 120-3. Data store 120-3 may thus be used to produce a
historic
record of all transactions made by each customer of Fl-A, and possibly to
reconcile the
accounts of customers of Fl-A. Possibly data store 120-3 may thus include or
mirror
the bank account records of each customer of Fl- A.
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[0074] Organized as a database, data store 120-3 may easily be queried to
locate
transactions of a particular customer (sender) to, for example, extract
transaction
records of payments to a particular recipient.
[0075] Data transfers may be initiated as depicted in FIG. 10, between
senders and
recipients. Specifically, a sender at a device 106 (e.g. 106-1) may execute
application
33 at that device 106. Application 33 at device 106-1 contacts server software
208 by
generating a message M1002 and generates Ul 140 for the user. Based on the
identity of the sender, server software 208 may extract entries of data store
120-Ito
generate the list presented in selection block 142 by transfer application 33,
and
provide that list to device 106-1 by way of message M1004. A customer (acting
a
sender) may select a payee from the list provided from data store 120-1 at Ul
140.
The sender further inputs additional payment details at device 106-1 ¨
including a
payment amount, and optionally a payment interval, and an identifier that the
payment
is to be recurring at an interval, through Ul 140 at a device 106 (additional
input fields
are not specifically illustrated).
[0076] Once information is complete, the sender may interact with transfer
button
146 of Ul 140. In response, a data transfer is initiated, that ultimately
results in a funds
transfer to the identified recipient. In particular, application 33 forms one
or more data
packets in message M1006 identifying the funds transfer ¨ the message M1006
may
include the identity of a transfer recipient, an amount, and an address of the
recipient.
In an example embodiment, the address of the recipient may include electronic
funds
transfer information, including account and financial institution data. The
message
M1006 may be cryptographically signed or encrypted, and transferred to server
102
associated with the sender. Transfer application 208 at the sender's server
102 may
thereafter generate a further message M1008 that is dispatched to the
recipient's
financial institution, for example to server 104.
[0077] Application 216 at server 104 at the recipient's financial
institution may
receive the message M1008 for the recipient, and in turn may credit an
identified
CA 3014835 2018-08-21
recipient's bank account, with the amount specified in the message. A message
M1012 may notify the recipient (e.g. at device 106-4) of the transfer.
[0078] Additionally, message M1010 identifying the transfer may be provided
to
reconciliation server 108, either by receipt application 216 of the
recipient's financial
institution (e.g. at server 104), or by transfer application 208 at server 102
(not shown).
Again, the message may be cryptographically signed or encrypted.
[0079] Data store 120-3 and 120-6 may be updated by Fl-A and Fl-B,
respectively,
to reflect the funds transfer. Specifically, a record identifying a credit to
the account of
the recipient may be added to data store 120-6, and a corresponding record
identifying
a debit to an account of the sender may be added to data store 120-3. Actual
funds
may be transferred between Fl-A and Fl-B in an interbank transfer, based on
records
at reconciliation server 108.
[0080] To enhance accuracy of data transfers using system 100, a master
participant data store 120-2 that stores profiles of recipients for which data
transfers
can be initiated over network 110 using system 100 is also maintained. This
data-
store 120-2 is further depicted in FIG. 8. In the depicted embodiment, master
participant data store 120-2 stores profiles of recipients known to Fl-A. Data
store
120-4 (FIG. 1) may be a master participant data store for Fl-B and may
similarly store
profiles of recipients known to Fl-B.
[0081] Master participant data store 120-2 may include an identity and
further
information for each possible recipient/payee, in a recipient profile. Data
store 120-2
may store profiles of possible recipient known to Fl-A across its customer
base (e.g.
for all users at devices 106). Data store 120-2 may again take the form of a
database
or other structure suitable for storing data entries. Each profile in data
store 120-2
may include particulars of a known recipient, including for example an address
on
system 100 for initiating a financial transaction (e.g. money transfer), as
well as other
particulars. Typically the profiles of example recipients will include a
specific account,
and bank, and payee payment details such as a payment amount range; a payment
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interval; and other information. A physical recipient address may further be
included.
An example profile may further include an indicator that a recipient typically
receives
payments between two set amounts at the account (e.g. between $20 and $200);
that
payments are (or are not) received at recurring intervals from senders; the
duration of
the recurring interval; etc.
[0082] Optionally, data store 120-2 may include further recipient profile
information,
specific to each particular sender. Data store 120-2 may, for example, include
a
further table for each recipient identifying this recipient profile
information specific to
individual senders at Fl-A. For example, the last date a particular sender
initiated a
transfer to a specific recipient; an account expiry date of a sender account
with the
recipient; expected payment amounts or intervals for a particular sender at Fl-
A, may
also be stored in data store 120-2 (not specifically illustrated in FIG. 8).
[0083] Master participant data store 120-2 may be pre-populated by Fl-A or
may be
populated as users add recipients/payees to their personal payee list, as
stored in data
store 120-1.
[0084] In an embodiment, an analytics component 214 may mine (i.e. read and
access) account information of recipients/payees of Fl-A and analyse this
information
to form master participant list in data store 120-2 in blocks S1100 as
exemplified in
FIG. 11. Analytics component 214 is illustrated to be stored and executed at
server
102. However, the skilled person will readily appreciate that this component
may be
hosted and executed at any computing device operated by Fl-A.
[0085] Specifically, for example, some recipients/payees may explicitly
provide
payment and account institution to Fl-A relevant to data store 120-2, and this
information may be stored by Fl-A in a data store (not specifically
illustrated)
associated with the recipients. In block S1102 analytics component 214 may
retrieve
this stored information and populate data store 120-2. Additionally, analytics
component 214 may gather payee/recipient information from other sources.
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[0086] For example, in block S1104 analytics component 214 may retrieve
recipient
data stored in data store 120-3 and analyse the retrieved data to identified
recipients ¨
including recipient account numbers; transfer intervals by senders; and
payment
amount ranges, to generate recipient profiles in block S1106. The generated
recipient
profiles may be used by analytics component 214 to populate master participant
data
store 120-2.
[0087] To the extent that payees/recipients are not customers of Fl-A,
analytics
component 214 may not have access to recipient transaction records stored in
data
store 120-3. Instead, analytics component 214 may have access to transfer
records of
multiple senders who may have paid the same payee, stored in data store 120-3.
These transaction records may retrieved in block S1104, and in the aggregate,
may be
used by analytics component 214 in block S1106 to compile transfer information
to the
same recipient by multiple senders from sender data stored in data store 120-
3, to
generate profile for a particular recipient to be stored in data store 120-2
in block
S1108. Optionally, blocks S1100 may be repeated periodically (e.g. every few
weeks
or months) to update master participant data store 120-2.
[0088] Optionally, blocks S1100 may be performed to add newly identified
recipients added by a user to data store 120-1 that are not yet found in data
store 120-
2. Blocks S1100 may thus be performed each time a newly identified recipient
is
added, or after a number of newly identified recipients have been added by
users at
device 106. Newly identified recipients may be maintained in a list (not
shown) used
by block S1100 to so add new recipients to data store 120-2.
[0089] As will be appreciated, circumstances change and entries within data
store
120-1 may become inaccurate, or no longer relevant to a particular sender. For
example, a sender (as payor) may close a recipient account; recipient
particulars may
change (e.g. in case of a replacement credit card, or a replacement account).
[0090] Unfortunately, choosing an inaccurate or irrelevant recipient
address may
still initiate a financial transaction to an identified recipient/payee
identified in the entry
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of data store 120-1 that is no longer accurate or relevant. This, in turn, may
result in
the transfer of incorrect data and unnecessary data on network 110, and the
initiation
of unnecessary transactions, that may ultimately need to be reversed.
[0091] Accordingly, as illustrated in FIG. 12 further recipient
verification software
212 stored at server 102 may be used to update data store 120-1 to ensure that
recipients for payees 106 associated with Fl-A are likely accurate/relevant.
This, in
turn, helps better configure Ul 140 (FIG. 4) to ensure that the contents of
selection
block 142 are more accurate.
[0092] To that end, recipient verification software 212 performs blocks
S1200 of
FIG. 12 to update the data store 120-1 of sender specific recipients. Blocks
S1200
may be performed periodically (e.g. daily, weekly, monthly, annually, etc.),
or upon
demand ¨ for example any time, (or after a pre-determined number of times)
that a
user executes application 33 at a device 106 to initiate a transfer.
[0093] As illustrated, for a selected sender, server 102 under control of
verification
software 212 retrieves entries of data store 120-1 of sender specific
recipients for that
sender in block S1202. In block S1204, entries of the sender specific
recipients may
be retrieved from master participant data store 120-3. As well, the data
transfer history
for that sender (or a portion thereof) may be retrieved from data store 120-3
in block
51206.
[0094] In block S1208, server 102 under control of verification software
212 may
generate a predicted transfer profile for each recipient in the data store of
sender
specific recipients for the selected sender 120-1, based on past data
transfers in the
data transfer history data store 120-3 and the master participant data store
120-2.
Block S1208 may be repeated for each recipient in sender specific data store
120-1, or
may only be performed for a sender selected at Ul 140 for which a data
transfer is
being initiated by way of message M1006.
[0095] In block S1210, verification software 212 identifies deviations in
data
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transfers to recipients from the predicted transfer profiles. Optionally, any
pending
transfer (as for example initiated by message M1006) may also be used in
identifying
deviations in data transfers.
[0096] Deviations may for example be identified by comparing the interval
of data
transfers to a recipient by the sender to the expected payment interval for
the
recipient. Deviations may also be identified if an amount to be transferred
does not fit
within the range specified in data store 120-2. A deviation may also be
identified if a
transfer to a recipient has not been effected in some pre-defined time window
(e.g. 6
months; 1 year; 2 years; etc.). Such a deviation may also be identified if the
recipient
profile identifies a zero balance for an otherwise active recipient account
(e.g. a credit
card account). Such a recipient may be identified as a dormant
payee/recipient. A
deviation may also be identified if the address of a sender has changed, and
the
profile of the recipient specifies the sender address as relevant. Likewise, a
deviation
may be identified if the recipient profile identifies an account expiry date
(as for
example for a credit card account) and that date is approaching or has passed.
[0097] If a deviation is identified in block S1210, a notification
notifying the sender
of the deviation over the computer communications network 110 may be
dispatched in
block S1212. For example, the deviation may be presented in Ul 140 (FIG. 5) as
a
message to the sender. Alternatively, an email, SMS or other electronic
message may
be dispatched to device 106 of the sender.
[0098] For example, a message identifying the deviation may be presented.
In the
case of a dormant recipient, for example, a message identifying the last
transaction or
its date may be presented, and a query whether the recipient remains relevant
may be
presented.
[0099] The message may alternatively, for example, solicit sender input
identifying
sender specific recipients to update data store 120-1 of sender specific
recipients.
Sender input may, for example be provided by way of application 33 or browser
35
and received at server 102 in block S1214.
CA 3014835 2018-08-21
[00100] In response to sender input, sender specific recipients entries
associated
with recipients giving rise to the deviations in data store 120-1 may be
deleted or
updated.
[00101] Conveniently, updating data store 120-1 may maintain the accuracy
of
the recipient list presented in Ul 140, and thus reduce errors in the
initiation of data
transfers to incorrect recipients over network 110.
[00102] Of course, the above described embodiments are intended to be
illustrative only and in no way limiting. The described embodiments are
susceptible to
many modifications of form, arrangement of parts, details and order of
operation. The
invention is intended to encompass all such modification within its scope, as
defined
by the claims.
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