Cashier's check

About: Cashier's check is a research topic. Over the lifetime, 246 publications have been published within this topic receiving 8253 citations. The topic is also known as: cashier's cheque & cashiers' check.

GradientBased Learning Applied to Document Recognition

Abstract: Multilayer Neural Networks trained with the backpropagation algorithm constitute the best example of a successful Gradient-Based Learning technique. Given an appropriate network architecture, Gradient-Based Learning algorithms can be used to synthesize a complex decision surface that can classify high-dimensional patterns such as handwritten characters, with minimal preprocessing. This paper reviews various methods applied to handwritten character recognition and compares them on a standard handwritten digit recognition task. Convolutional Neural Networks, that are specifically designed to deal with the variability of 2D shapes, are shown to outperform all other techniques. Real-life document recognition systems are composed of multiple modules including field extraction, segmentation, recognition, and language modeling. A new learning paradigm, called Graph Transformer Networks (GTN), allows such multi-module systems to be trained globally using Gradient-Based methods so as to minimize an overall performance measure. Two systems for on-line handwriting recognition are described. Experiments demonstrate the advantage of global training, and the flexibility of Graph Transformer Networks. A Graph Transformer Network for reading bank check is also described. It uses Convolutional Neural Network character recognizers combined with global training techniques to provides record accuracy on business and personal checks. It is deployed commercially and reads several million checks per day.

Financial data processing system

Abstract: There are disclosed herein methods and systems for affecting the accounting functions of debiting and crediting a bank's account records, a payer's bank account records and a corporation's accounts receivable records with their customers's payments, and are based upon the combination of data from two or more sources to prepare an integrated document comprising an invoice (bill) and a negotiable instrument, usually a bank check. These documents form an integrated document and contain all necessary pre-printed machine readable data and are combined to effect a variety of multi-function transactions. By combining all of the required data elements in a single document at the time of initial preparation of the integrated document, including an accounts receivable invoice and the payer's check, the requirement for subsequent redundant, labor intensive processes are eliminated. The single integrated document becomes a multi-functional document which generates the transaction to effect the customer's accounts receivable, the negotiable instrument to (i) credit the coporation's financial institutions account and (ii) debit the customer's financial institution's account while creating a complete audit trail and accountability at each separate processing level.

Universal positive pay match, authentication, authorization, settlement and clearing system

Abstract: An universal positive pay match, authentication, authorization, clearing and settlement system to reduce check and card fraud. The system includes several technologies for inputting check register information connectively from various users of the system, a database for storing the check register information and the check histories, software that searches for and captures escheated check register information, software that automatically polls check register information from the customer, the customer's bank or merchant and conducting and transmitting a partial or full reconciliation of the check register information from the system to the customer. Also included in the system is the ability of the customer's bank to provide either a stalled debit or debit stall to the customer.

System and method for efficiently processing payments via check and electronic funds transfer

Abstract: The present invention relates to the field of identity verification. Specifically, the invention is directed to a device and method for facilitating signature-less financial transactions as an improvement over common, prior art check-based financial transactions. This system and method provides the ability to use a check as a form of payment at a point of use without having to use the signed check as the binding document that is processed through the financial system to obtain payment by the entity rendering the service. The system and method comprises reading a hardcopy check via an electronic scanner, correlating the account number to a biometric or other piece of data that would positively identify the person tendering the check and using the biometric or other data to confirm the identity of the person tendering the check. This data is then associated with an auditable record of the person who performed the biometric or other data comparison. Once a particular financial transaction is authorized, the check is returned to the tenderer and the financial transaction is processed as an electronic fund transfer (EFT).

Database for check risk decisions populated with check activity data from banks of first deposit

Abstract: A plurality of banks of first deposit provide checking account activity data for both transit items (checks received for deposit that need to be cleared) and incoming returns (bounced checks) to a statistical model which determines from the data the likelihood that a check from a specific checking account will be returned. This data is used to populate a database of checking accounts to be used for making check risk decisions, such as check hold policy decisions, check acceptance decisions, and open to buy decisions.