US 2004/0111346 A1 · Methods for automating financial transactions

Abstract

A method for providing extended data processing services from a bank to its business customers that are engaged in commercial supply chain business transactions. A standard common data model defines the content of data describing individual financial payment transactions performed by the bank on behalf of its customer, and well as additional “rich data” specifying the nature of the underlying commercial supply chain transactions between the bank's customer and its customers and suppliers that give rise to each financial payment transactions. The database is accessed and utilized by the banks customers which employ Web service routines to implement conventional banking functions such as lockbox, checking and electronic payment, lending and cash management services, and to perform further data processing operations using the data that conforms to the common data model, including accounts receivable and accounts payable management functions, collections management, integrated credit assessment and management, payments workflow and purchasing functions, and sales decisioning support.

Claims20

Dependent claims

A method of managing supply chain transactions between a business organization and its customers and suppliers comprising, in combination, the steps of:

establishing a standard data model which defines the content of data representing said transactions, said data model specifying the content of data describing individual financial payment transactions performed by said bank on behalf of said business organization and additional data specifying the nature of the underlying commercial transaction between said business organization and its customer or supplier which gives rise to each of said financial payment transactions,
establishing a database system for storing data that conforms to said standard data model,
transmitting data to said database describing each given one of said financial payment transactions to be performed by said bank,
transmitting said additional data to said database specifying the nature of the underlying commercial transaction between said business organization and its customer or supplier which created the need for said given one of said financial payment transactions, and
in response to a request from said business organization, performing a selected one of a plurality of available data processing operations on the data in said database system.

2 more elements

A method of providing data processing services from a bank to a client business organization engaged in commercial supply chain business transactions comprising, in combination, the steps of:

establishing a standard data model which defines the content of data representing said transactions, said data model specifying the content of data describing individual financial payment transactions performed by said bank on behalf of said client business organization and additional data specifying the nature of the underlying commercial transaction between said business organization and its customers or suppliers which gives rise to said financial payment transactions,
establishing a database system for storing data that conforms to said standard data model,
employing said database to accept instruction data from said business organization to perform a given one of said financial payment transactions,
employing said database to accept said additional data specifying the nature of the underlying commercial transaction between said business organization and its customer or supplier associated with said financial payment transactions, and
in response to a request from said business organization, performing a selected one of a plurality of available data processing operations on the data in said database system.

2 more elements

Dependencies are inferred from the claim text.

Methods for automating financial transactions

Life of this patent

Methods for automating financial transactions

Life of this patent

Abstract

Claims20