Method for tracking items using a fund processing device

Patent metadata

Field	Value
Publication number	US-9704170-B2
Application number	US-201414145965-A
Country	US
Kind code	B2
Filing date	Jan 1, 2014
Priority date	Jan 1, 2014
Publication date	Jul 11, 2017
Grant date	Jul 11, 2017

Abstract

Tools for forecasting financial instrument transfers are provided. The tools may include a funds processing system. The funds processing system may be established at a client location. The funds processing system may receive a plurality of items. The items may include one or more financial instruments. The items may include one or more attachments. The items may be processed using the funds processing system. Data corresponding to the items may be transmitted to a financial institution. The data may be used to compute a forecast. The forecast may be based at least on part on data received via the funds processing system. Data analytical models may forecast future requirements. The requirements may be pickup requirements. The pickup requirements may be financial instrument pickup requirements. The forecast may be a time forecast. The time may be an estimated arrival time. The estimated arrival time may be at the financial institution.

First claim

What is claimed is:

1. An apparatus for tracking items, the apparatus comprising:
a funds processing device (“FPD”), wherein the FPD is established at a client location;
a receiver including hardware configured to receive, via the FPD, a plurality of items, said items comprising:
one or more financial instruments; and
one or more attachments;

a processor configured to process, via the FPD, the plurality of items; and
a transmitter configured to transmit, via the FPD, to a financial institution, data corresponding to the items, wherein, the processor is further configured to calculate an estimated arrival time of the items at the financial institution and the receiver is further configured to receive tracking information;
a barcode device residing within the FPD, said barcode device comprising:
a barcode generator configured to generate a unique barcode;
a barcode printer configured to print the unique barcode; and
an affixer device configured to affix the barcode to a container storing at least a portion of the items, wherein the barcode is configured to provide, at a second location, the tracking information for confirming the estimated arrival time of the container.

2. The apparatus of claim 1 further comprising:
the receiver further configured to receive data corresponding to a scanning of the barcode; and
the processor further configured to:
produce updated tracking information based at least in part on the data; and
recalculate, based on the updated tracking information, the estimated arrival time of the items at the financial institution.

3. The apparatus of claim 2 wherein the estimated arrival time is calculated based on an analysis of previous cash transfer data.

4. The apparatus of claim 3 wherein the previous cash transfer data comprises data corresponding to financial institution processing volume.

5. The apparatus of claim 3 wherein the previous cash transfer data comprises data corresponding to average time to process a pre-determined number of items.

6. The apparatus of claim 3 wherein the previous cash transfer data comprises data corresponding to time of transit.

7. The apparatus of claim 1 further comprising:
the receiver further configured to receive current condition data; and
the processor further configured to calculate the estimated arrival time based on the current condition data.

8. The apparatus of claim 7 wherein current condition data comprises:
current traffic conditions;
current weather conditions;
current processing center volume;
time of day;
current location of the items;
number of non-cash items;
number of cash items; and
number of flagged items.

9. The apparatus of claim 1 further comprising the processor further configured to forecast an estimated time of cash flow availability.

Assignees

• Bank Of America

Inventors

• Blakeslee Samuel C
• Pierce James
• Morgan Rebecca S

Classifications

• G06Q40/06

  Asset management; Financial planning or analysis · CPC title

• G06Q40/12 Primary

  Accounting · CPC title

• G06Q30/0202 Primary

  Market predictions or forecasting for commercial activities · CPC title