ACH payment processing

US9858553B2 · kind B2 · utility

Assignee

• Federal Reserve Bank of Minneapolis · US

Inventors

• Peter Davis · Kyoto, JP
• Keith Pierce · Grand Ledge, US
• Stephen P. Hanten · Minneapolis, US
• Erik Tennant · Apple Valley, US
• Jennifer Larson · Rochester, US

Key dates

• Filing date: Dec 18, 2014
• Grant date: Jan 2, 2018
• Expiry date: Jan 15, 2036

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q20/102
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Efficiently processing ACH payments by processing batches of ACH payments in parallel. A processing system of an ACH operator receives an ACH file including multiple batches of ACH items. Each batch includes at least one ACH item. A control module of the processing system organizes data in the ACH file into multiple partitions according to a selected strategy. Each partition includes at least one of the batches. A processing module of the processing system separately processes each partition in parallel, validating the batches and ACH items and creating at least one output batch for each partition. If the control module determines that the ACH file is acceptable, based on this parallel processing, then the processing module settles the ACH items in the output batches and creates at least one new ACH file for transmitting the settled ACH items to one or more corresponding receiving depository financial institutions.