US 8,712,801 B1Granted

Systems and methods for automated institutional processing of payments

AssigneeUnited Services Automobile Association (USAA)

InventorsCharles Lee Oakes, III, Rickey Dale Burks, Randy Ray Morlen

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Abstract

Various mechanisms are provided herein for automated institutional processing of payments. For example, fund can be transferred from one party to another party by transfer of funds from a static account into a dynamically created transaction account. Such a transfer can have additional features, including the refunding of the transfer funds and revocation thereof. According to another example, insurance claims can be automatically processed by transferring funds when claims are filed (with or without evidentiary documents). Such transfers can then be validated afterwards. Thus, when claims are received, they can be quickly examined for the relevant fields, such as claim amount, and then the amount can be disbursed in a matter of minutes after receiving a claim submission. Such disbursement, moreover, can be governed according to various heuristics, including the trustworthiness of claimants and rules regarding maximum disbursement amounts.

Claims20

Dependent claims

A system for automated institutional processing of claims, comprising:

a receiving computing device that receives a digitized insurance claim form from a user;
an examination unit, including a first processor and a first memory coupled to the first processor, that examines at least one field in said claim form;
an electronic transfer system that automatically opens a user account associated with the user upon indication from the examination unit that automatic payment will be made, and automatically transfers funds to the user account associated with said user upon examination of said at least one field by the examination unit, wherein the electronic transfer system grants access to the user account by both said user and an insurance company that provides the funds for the user account;
a confirmation unit, including a second processor and a second memory coupled to the second processor, that confirms, after said transfer of funds, a validity of a claim made in said claim form;
at least one subsystem that transfers said funds in proportion to a level of trustworthiness in a profile of said user, wherein the level of trustworthiness is determined using at least one of length of relationship with an institution, history of dubious claims, a credit rating, and armed service record;
and
at least one subsystem that revokes said funds in the user account back to an institutional account.

4 more elements

Dependencies are inferred from the claim text.