Automated, history-based correction of electronic remittances for programmatic reconciliation of electronic receivables

US11720867B2 · kind B2 · utility

Assignee

• Wells Fargo Bank, N.A. · US

Inventors

• Seth M. Blacher · San Francisco, US
• Raymond Francis Gatland · Winston-Salem, US
• Irvin J. Cooper · Columbia Heights, US
• Karin L. Farnsworth · Glen Allen, US
• Kellie L. Thomas · Woodlawn, US
• Derek D. Mohr · Plumsteadville, US

Key dates

• Filing date: Aug 9, 2021
• Grant date: Aug 8, 2023
• Expiry date: Aug 9, 2041

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q30/04
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

In an embodiment, a computing system receives a first electronic remittance corresponding to a first electronic payment to a payee. The system determines that the first remittance is in a first, unrecognized format, and responsively presents, to the payee, a user interface for matching electronic remittances to electronic payments. The system receives, via the user interface, field-mapping information between the first format and a second, recognized format. The system receives a second electronic remittance corresponding to a second electronic payment directed to the payee, determines that the second remittance is in the first format, and responsively uses the field-mapping information to convert the second remittance to the second format. The system matches the converted remittance to the second payment, and provides, to the payee, a payment file that indicates a match between the second remittance and the second payment.