US20200134712A1

US20200134712A1 - System for network resource recycling

Info

Publication number: US20200134712A1
Application number: US16/400,843
Authority: US
Inventors: Rebecca Stepp Morgan; Robert Edward Marshall; Judith C. Taylor
Original assignee: Bank of America Corp
Current assignee: Bank of America Corp
Priority date: 2018-10-26
Filing date: 2019-05-01
Publication date: 2020-04-30
Also published as: US20200134618A1; US20200134987A1; US10803454B2; US20200134986A1; US10825021B2

Abstract

Embodiments of the invention are directed to a system, method, or computer program product for a safe resource recycler system and network. The system provides a network and platform for authorized entities for provisional resource deployment and manipulation. In this way, the system may provide safe resource ingestion outside deposit window times. Upon ingestion, the system provides an authorized entity an application tool for internal management and manipulation of provisional resources.

Description

CROSS-REFERENCE TO RELATED APPLICATIONS

This application claims the benefit of U.S. Provisional Patent Application Ser. No. 62/751,138, filed Oct. 26, 2018 entitled “System for Resource Visibility,” the entirety of which is incorporated herein by reference.

BACKGROUND

Present conventional systems do not have the capability to allow a user to track resource distribution and deposits from conception through supply chain. Currently, manual sorting of resources is performed and portions of the resource supply chain are not visible. As such, there exists a need for a system to perform tagging and tracking of resource distribution and resource exchange through the supply chain.

BRIEF SUMMARY

The following presents a simplified summary of one or more embodiments of the invention in order to provide a basic understanding of such embodiments. This summary is not an extensive overview of all contemplated embodiments, and is intended to neither identify key or critical elements of all embodiments, nor delineate the scope of any or all embodiments. Its sole purpose is to present some concepts of one or more embodiments in a simplified form as a prelude to the more detailed description that is presented later.
Embodiments of the present invention address these and/or other needs by providing an innovative system, method and computer program product for safe resource recycler systems.
In some embodiments, a safe resource recycler system may further comprise an entity provided provisional credit of resources for affiliate entities. In this way, the system may provide a safe resource for an entity that may have cash from a large deposit, purchase, or the like and not be able to distribute the cash to the financial institution. In this way, the system may confirm the cash and provide the entity with a tool to give credit to the entity for the cash they have, but have not deposited. The system thus allows the entity to manage internal cash before the funds are in control of the financial institution.
In some embodiments, the invention provides a system, method, and computer program product for a resource recycling network, the invention comprising: authorizing an entity for access to the resource recycling network, wherein upon authorization an application tool is deployed on an entity server for the entity access to the resource recycling network; identifying a physical resource influx occurrence and the entity; triggering, based in the influx, initiation of the application tool at the entity server; receiving characterization data about the physical resource influx including an amount of influx and identification of no deposit window available for the influx; transmitting, via the resource recycling network, a provisional resource access for immediate entity manipulation; allowing, via the application tool, manipulation of the provisional resource access; and reconciling, upon deposition, the physical resource influx with the provisional resource access.
In some embodiments, identifying the physical resource influx occurrence and the entity further comprises identifying the physical resource influx at a time when no deposit window is available for the entity.
In some embodiments, authorizing the entity for access to the resource recycling network further comprises accessing and integration of the application tool into point-of-transaction devices associated with the entity. In some embodiments, authorizing the entity for access to the resource recycling network further comprises accessing financial institution accounts associated with the entity for deployment of provisional resource.
In some embodiments, identifying the physical resource influx occurrence and the entity further comprises identifying a level of cash above a threshold at a location associated with the entity, wherein the cash is received from a transaction.
In some embodiments, allowing, via the application tool, manipulation of the provisional resource access further comprises allowing the entity to manipulate the provisional resource access within an account as if the provisional resource access was the physical resource influx.
In some embodiments, the provisional resource access comprises a credit placed in an account of the entity for an amount of the physical resource influx before the physical resource influx is deposited within the account.
The features, functions, and advantages that have been discussed may be achieved independently in various embodiments of the present invention or may be combined with yet other embodiments, further details of which can be seen with reference to the following description and drawings.

BRIEF DESCRIPTION OF THE DRAWINGS

Having thus described embodiments of the invention in general terms, reference will now be made to the accompanying drawings, wherein:

FIG. 1 provides a network resource recycling system environment, in accordance with one embodiment of the present invention;

FIG. 2 provides a high level process map illustrating safe resource recycling, in accordance with one embodiment of the present invention;

FIG. 3 provides a detailed process flow illustrating safe resource recycling communication, in accordance with one embodiment of the present invention;

FIG. 4 provides a process map illustrating a lifecycle for safe resource recycling, in accordance with one embodiment of the present invention; and

FIG. 5 provides a process map illustrating standard resource depositing lifecycle with deposit window availability, in accordance with one embodiment of the present invention.

DETAILED DESCRIPTION OF EMBODIMENTS OF THE INVENTION

Embodiments of the present invention will now be described more fully hereinafter with reference to the accompanying drawings, in which some, but not all, embodiments of the invention are shown. Indeed, the invention may be embodied in many different forms and should not be construed as limited to the embodiments set forth herein; rather, these embodiments are provided so that this disclosure will satisfy applicable legal requirements. Like numbers refer to elements throughout. Where possible, any terms expressed in the singular form herein are meant to also include the plural form and vice versa, unless explicitly stated otherwise. Also, as used herein, the term “a” and/or “an” shall mean “one or more,” even though the phrase “one or more” is also used herein.
A “user” as used herein may refer to any customer of an entity or individual that interacts with an entity. In some embodiments, the user may be an entity. In some embodiments, identities of an individual may include online handles, usernames, aliases, family names, maiden names, nicknames, or the like. The user may interact with a financial institution as either a customer, supplier, entity or the like. Furthermore, as used herein the term “user device” or “mobile device” may refer to mobile phones, personal computing devices, tablet computers, wearable devices, and/or any portable electronic device capable of receiving and/or storing data therein.
As used herein, a “user interface” generally includes a plurality of interface devices and/or software that allow a customer to input commands and data to direct the processing device to execute instructions. For example, the user interface may include a graphical user interface (GUI) or an interface to input computer-executable instructions that direct the processing device to carry out specific functions. Input and output devices may include a display, mouse, keyboard, button, touchpad, touch screen, microphone, speaker, LED, light, joystick, switch, buzzer, bell, and/or other user input/output device for communicating with one or more users.
A “transaction” or “resource distribution” refers to any communication between a user and the financial institution or other entity to transfer funds for the purchasing or selling of a product. A transaction may refer to a purchase of goods or services, a return of goods or services, a payment transaction, a credit transaction, or other interaction involving a user's account. In the context of a financial institution, a transaction may refer to one or more of: a sale of goods and/or services, initiating an automated teller machine (ATM) or online banking session, an account balance inquiry, a rewards transfer, an account money transfer or withdrawal, opening a bank application on a user's computer or mobile device, a user accessing their e-wallet, or any other interaction involving the user and/or the user's device that is detectable by the financial institution. A transaction may include one or more of the following: renting, selling, and/or leasing goods and/or services (e.g., groceries, stamps, tickets, DVDs, vending machine items, and the like); making payments to creditors (e.g., paying monthly bills; paying federal, state, and/or local taxes; and the like); sending remittances; loading money onto stored value cards (SVCs) and/or prepaid cards; donating to charities; and/or the like.
In various embodiments, the point-of-transaction device (POT) may be or include a merchant machine and/or server and/or may be or include the mobile device of the user may function as a point of transaction device. The embodiments described herein may refer to the use of a transaction, transaction event or point of transaction event to trigger the steps, functions, routines etc. described herein. In various embodiments, occurrence of a transaction triggers the sending of information such as alerts and the like. As used herein, a “bank account” refers to a credit account, a debit/deposit account, or the like. Although the phrase “bank account” includes the term “bank,” the account need not be maintained by a bank and may, instead, be maintained by other financial institutions. For example, in the context of a financial institution, a transaction may refer to one or more of a sale of goods and/or services, an account balance inquiry, a rewards transfer, an account money transfer, opening a bank application on a user's computer or mobile device, a user accessing their e-wallet or any other interaction involving the user and/or the user's device that is detectable by the financial institution. As further examples, a transaction may occur when an entity associated with the user is alerted via the transaction of the user's location. A transaction may occur when a user accesses a building, uses a rewards card, and/or performs an account balance query. A transaction may occur as a user's mobile device establishes a wireless connection, such as a Wi-Fi connection, with a point-of-sale terminal. In some embodiments, a transaction may include one or more of the following: purchasing, renting, selling, and/or leasing goods and/or services (e.g., groceries, stamps, tickets, DVDs, vending machine items, etc.); withdrawing cash; making payments to creditors (e.g., paying monthly bills; paying federal, state, and/or local taxes and/or bills; etc.); sending remittances; transferring balances from one account to another account; loading money onto stored value cards (SVCs) and/or prepaid cards; donating to charities; and/or the like.
In some embodiments, the transaction may refer to an event and/or action or group of actions facilitated or performed by a user's device, such as a user's mobile device. Such a device may be referred to herein as a “point-of-transaction device”. A “point-of-transaction” could refer to any location, virtual location or otherwise proximate occurrence of a transaction. A “point-of-transaction device” may refer to any device used to perform a transaction, either from the user's perspective, the merchant's perspective or both. In some embodiments, the point-of-transaction device refers only to a user's device, in other embodiments it refers only to a merchant device, and in yet other embodiments, it refers to both a user device and a merchant device interacting to perform a transaction. For example, in one embodiment, the point-of-transaction device refers to the user's mobile device configured to communicate with a merchant's point of sale terminal, whereas in other embodiments, the point-of-transaction device refers to the merchant's point of sale terminal configured to communicate with a user's mobile device, and in yet other embodiments, the point-of-transaction device refers to both the user's mobile device and the merchant's point of sale terminal configured to communicate with each other to carry out a transaction.
In some embodiments, a point-of-transaction device is or includes an interactive computer terminal that is configured to initiate, perform, complete, and/or facilitate one or more transactions. A point-of-transaction device could be or include any device that a user may use to perform a transaction with an entity, such as, but not limited to, an ATM, a loyalty device such as a rewards card, loyalty card or other loyalty device, a magnetic-based payment device (e.g., a credit card, debit card, etc.), a personal identification number (PIN) payment device, a contactless payment device (e.g., a key fob), a radio frequency identification device (RFID) and the like, a computer, (e.g., a personal computer, tablet computer, desktop computer, server, laptop, etc.), a mobile device (e.g., a smartphone, cellular phone, personal digital assistant (PDA) device, MP3 device, personal GPS device, etc.), a merchant terminal, a self-service machine (e.g., vending machine, self-checkout machine, etc.), a public and/or business kiosk (e.g., an Internet kiosk, ticketing kiosk, bill pay kiosk, etc.), a gaming device, and/or various combinations of the foregoing.
In some embodiments, a point-of-transaction device is operated in a public place (e.g., on a street corner, at the doorstep of a private residence, in an open market, at a public rest stop, etc.). In other embodiments, the point-of-transaction device is additionally or alternatively operated in a place of business (e.g., in a retail store, post office, banking center, grocery store, factory floor, etc.). In accordance with some embodiments, the point-of-transaction device is not owned by the user of the point-of-transaction device. Rather, in some embodiments, the point-of-transaction device is owned by a mobile business operator or a point-of-transaction operator (e.g., merchant, vendor, salesperson, etc.). In yet other embodiments, the point-of-transaction device is owned by the financial institution offering the point-of-transaction device providing functionality in accordance with embodiments of the invention described herein.
Further, the term “payment credential” or “payment vehicle,” as used herein, may refer to any of, but is not limited to refers to any of, but is not limited to, a physical, electronic (e.g., digital), or virtual transaction vehicle that can be used to transfer money, make a payment (for a service or good), withdraw money, redeem or use loyalty points, use or redeem coupons, gain access to physical or virtual resources, and similar or related transactions. For example, in some embodiments, the payment vehicle is a bank card issued by a bank which a customer may use to perform purchase transactions. However, in other embodiments, the payment vehicle is a virtual debit card housed in a mobile device of the customer, which can be used to electronically interact with an automated teller machine (ATM) or the like to perform financial transactions. Thus, it will be understood that the payment vehicle can be embodied as an apparatus (e.g., a physical card, a mobile device, or the like), or as a virtual transaction mechanism (e.g., a digital transaction device, digital wallet, a virtual display of a transaction device, or the like).
In some embodiments, information associated with the purchase transaction is received from a POT including a point-of-sale (POS) terminal during a transaction involving a consumer and a merchant. For example, a consumer checking out at a retail merchant, such as a grocer, may provide to the grocer the one or more goods or products that he is purchasing together with a payment method, loyalty card, and possibly personal information, such as the name of the consumer. This information along with information about the merchant may be aggregated or collected at the POS terminal and routed to the system or server of the present invention or otherwise a third party affiliate of an entity managing the system of this invention. In other embodiments when the purchase transaction occurs over the Internet, the information associated with the purchase transaction is collected at a server providing an interface for conducting the Internet transaction. In such an embodiment, the consumer enters product, payment, and possibly personal information, such as a shipping address, into the online interface, which is then collected by the server. The server may then aggregate the transaction information together with merchant information and route the transaction and merchant information to the system of the present invention. It will be further be understood that the information associated with the purchase transaction may be received from any channel such as an automated teller machine (ATM), Internet, peer-to-peer network, POS, and/or the like.
Embodiments of the present invention address these and/or other needs by providing an innovative system, method and computer program product for safe resource recycler systems.
In some embodiments, a safe resource recycler system may further comprise an entity provided provisional credit of resources for affiliate entities. In this way, the system may provide a safe resource for an entity that may have cash from a large deposit, purchase, or the like and not be able to distribute the cash to the financial institution. In this way, the system may confirm the cash and provide the entity with a tool to give credit to the entity for the cash they have, but have not deposited. The system thus allows the entity to manage internal cash before the funds are in control of the financial institution.
FIG. 1 illustrates a secure resource recycling system environment 200, in accordance with one embodiment of the present invention. FIG. 1 provides the system environment 200 for which the distributive network system with specialized data feeds associated with error diagnosis document processing. FIG. 1 provides a unique system that includes specialized servers and system communicably linked across a distributive network of nodes required to perform the functions described herein.
As illustrated in FIG. 1, the entity server 208 is operatively coupled, via a network 201 to the user device 204, ATM 205, third party servers 207, and to the resource visibility system 206. In this way, the entity server 208 can send information to and receive information from the user device 204, ATM 205, third party servers 207, and the resource visibility system 206. FIG. 1 illustrates only one example of an embodiment of the system environment 200, and it will be appreciated that in other embodiments one or more of the systems, devices, or servers may be combined into a single system, device, or server, or be made up of multiple systems, devices, or servers.
The network 201 may be a system specific distributive network receiving and distributing specific network feeds and identifying specific network associated triggers. The network 201 may also be a global area network (GAN), such as the Internet, a wide area network (WAN), a local area network (LAN), or any other type of network or combination of networks. The network 201 may provide for wireline, wireless, or a combination wireline and wireless communication between devices on the network 201.
In some embodiments, the user 202 is an individual or entity that has one or more user devices 204 and is a customer of a financial institution exchanging or distributing resources. In some embodiments, the user 202 has a user device, such as a mobile phone, tablet, computer, or the like. FIG. 1 also illustrates a user device 204. The user device 204 may be, for example, a desktop personal computer, business computer, business system, business server, business network, a mobile system, such as a cellular phone, smart phone, personal data assistant (PDA), laptop, or the like. The user device 204 generally comprises a communication device 212, a processing device 214, and a memory device 216. The processing device 214 is operatively coupled to the communication device 212 and the memory device 216. The processing device 214 uses the communication device 212 to communicate with the network 201 and other devices on the network 201, such as, but not limited to the resource visibility system 206, the entity server 208, and the third party sever 207. As such, the communication device 212 generally comprises a modem, server, or other device for communicating with other devices on the network 201.
The user device 204 comprises computer-readable instructions 220 and data storage 218 stored in the memory device 216, which in one embodiment includes the computer-readable instructions 220 of a user application 222. In some embodiments, the user application 222 allows a user 202 to send and receive communications with the resource visibility system 206.
As further illustrated in FIG. 1, the resource visibility system 206 generally comprises a communication device 246, a processing device 248, and a memory device 250. As used herein, the term “processing device” generally includes circuitry used for implementing the communication and/or logic functions of the particular system. For example, a processing device may include a digital signal processor device, a microprocessor device, and various analog-to-digital converters, digital-to-analog converters, and other support circuits and/or combinations of the foregoing. Control and signal processing functions of the system are allocated between these processing devices according to their respective capabilities. The processing device may include functionality to operate one or more software programs based on computer-readable instructions thereof, which may be stored in a memory device.
The processing device 248 is operatively coupled to the communication device 246 and the memory device 250. The processing device 248 uses the communication device 246 to communicate with the network 201 and other devices on the network 201, such as, but not limited to the entity server 208, the third party server 207, the ATM 205, and the user device 204. As such, the communication device 246 generally comprises a modem, server, or other device for communicating with other devices on the network 201.
As further illustrated in FIG. 1, the resource visibility system 206 comprises computer-readable instructions 254 stored in the memory device 250, which in one embodiment includes the computer-readable instructions 254 of an application 258. In some embodiments, the memory device 250 includes data storage 252 for storing data related to the system environment 200, but not limited to data created and/or used by the application 258.
In one embodiment of the resource visibility system 206 the memory device 250 stores an application 258. In one embodiment of the invention, the application 258 may associate with applications having computer-executable program code. Furthermore, the resource visibility system 206, using the processing device 248 codes certain communication functions described herein. In one embodiment, the computer-executable program code of an application associated with the application 258 may also instruct the processing device 248 to perform certain logic, data processing, and data storing functions of the application. The processing device 248 is configured to use the communication device 246 to communicate with and ascertain data from one or more entity server 208, third party servers 207, ATM 205, and/or user device 204.
As illustrated in FIG. 1, the third party server 207 is connected to the entity server 208, user device 204, ATM 205, and resource visibility system 206. The third party server 207 has the same or similar components as described above with respect to the user device 204 and the resource visibility system 206. While only one third party server 207 is illustrated in FIG. 1, it is understood that multiple third party servers 207 may make up the system environment 200. The third party server 207 may be associated with one or more financial institutions, entities, or the like.
As illustrated in FIG. 1, the ATM 205 is connected to the entity server 208, user device 204, third party server 207, and resource visibility system 206. The ATM 205 has the same or similar components as described above with respect to the user device 204 and the resource visibility system 206. While only one ATM 205 is illustrated in FIG. 1, it is understood that multiple ATM 205 may make up the system environment 200.
As illustrated in FIG. 1, the entity server 208 is connected to the third party server 207, user device 204, ATM 205, and resource visibility system 206. The entity server 208 may be associated with the resource visibility system 206. The entity server 208 has the same or similar components as described above with respect to the user device 204 and the resource visibility system 206. While only one entity server 208 is illustrated in FIG. 1, it is understood that multiple entity server 208 may make up the system environment 200. It is understood that the servers, systems, and devices described herein illustrate one embodiment of the invention. It is further understood that one or more of the servers, systems, and devices can be combined in other embodiments and still function in the same or similar way as the embodiments described herein. The entity server 208 may generally include a processing device communicably coupled to devices as a memory device, output devices, input devices, a network interface, a power source, one or more chips, and the like. The entity server 208 may also include a memory device operatively coupled to the processing device. As used herein, memory may include any computer readable medium configured to store data, code, or other information. The memory device may include volatile memory, such as volatile Random Access Memory (RAM) including a cache area for the temporary storage of data. The memory device may also include non-volatile memory, which can be embedded and/or may be removable. The non-volatile memory may additionally or alternatively include an electrically erasable programmable read-only memory (EEPROM), flash memory or the like.
The memory device may store any of a number of applications or programs which comprise computer-executable instructions/code executed by the processing device to implement the functions of the entity server 208 described herein. Using the system environment 200 illustrated in FIG. 1, the invention comprises safe resource recycling.
FIG. 2 provides a high level process map illustrating safe resource recycling 100, in accordance with one embodiment of the present invention. As illustrated in block 102, the process 100 is initiated by generating a safe resource recycler network for entities. In this way, the system provides a network of entities that are approved for safe resource recycling. The entities may be interconnected via a network for resource recycling entities and directly linked to the financial institution providing the resource recycling. The system may pre-approve the entities to be a part of the network. The pre-approval process may include entities that are trusted customers of the financial institution, approved customers of the financial institution, or the like. In some embodiments, the system, via the financial institution hosting or providing the system, may select and offer entities to join the network. In other embodiments, the entities may apply to the financial institution hosting or providing the system to be authorized to join the network.
In some embodiments, once an authorized entity is established, the system may generate a direct communicable linkage with each of the individual authorized entities. As such, each communicable linkage may be private, between the system and the individual entity and provide a direct portal for resource recycling, account information for the entity, and the like and any communication between the entity and a financial institution associated with the system.
Next, as illustrated in block 104, the process 100 continues by identifying one or more entities with resource deposits. The system may identify the authorized entities with resource deposits across the network. The system may identify these entities by identifying one or more large resource distributions received at the entity based on point-of-transaction communication networks or the like. Furthermore, the system may be notified by the entity of the resource distribution received at the entity. Typically, these resource distributions may be large cash amounts received by the entity, such as from a customer for a purchase of a product or service at the entity. Furthermore, the cash may be provided to the entity at a time or location where it is difficult of the entity to provide the cash to the financial institution in a timely manner. Thus, the entity may be storing a larger than normal amount of cash at a physical location associated with that entity. The invention provides security for that cash in the form of a recycling network that accounts for and insures the cash as if it was deposited within the financial institution for the authorized entities.
As illustrated in block 106, the process 100 continues by identifying no deposit window available for the entity for a pre-determined duration of time. In this way, there is no truck coming to the entity within a given timeframe after the large deposit received at the entity, there is no option for the entity to deliver the resources to a financial institution within the timeframe, or the like. In this way, the cash received for the transaction may be after hours, off hours, weekends, or outside standard deposit routes or scheduling for the entity. As such, the entity may be maintaining a large amount of physical resources at the entity location that the entity doesn't normally store.
As illustrated in block 108, the process 100 continues by issuing a credit to the authorized entity for the resources at the entity even though the resources are not yet deposited with the financial institution. In this way, the entity may have access to the resources at the financial institution via a provisional credit. Furthermore, the system provides an insurance for the entity by depositing the cash prior to the cash leaving the entity.
As illustrated in block 110, the process 100 is finalized by allowing the entity to manipulate the credit via an entity tool without financial institution control of the resources. In this way, the entity may still have physical possession of the cash, but the resources may be illustrated in an account associated with the entity in the form of a provisional credit. The entity may then manipulate the provisional credit until the cash is provided to the account and the provisional credit is removed.
FIG. 3 provides a detailed process flow illustrating safe resource recycling communication 300, in accordance with one embodiment of the present invention. As illustrated in block 302, the process 300 is initiated by providing the users within the authorized entity an entity tool for safe resource recycling. The entity tool may be provided on a user's mobile device, the entity system server, or the like. The entity tool may be an application allowing for access to the network and system provided herein.
As illustrated in block 304, the process 300 continues by systematically opening of the entity tool at the entity server upon indication of resource deposit occurrence at the entity location. In this way, the system may be connected to the entity point-of-transaction device and identify a cash transaction occurring and open the entity tool at the entity server. In this way, the resource deposit occurrence may include a larger than average cash position for the entity. This may be due to a traction occurrence with cash or the like. Upon the larger than average cash position occurring, the system or a user associated with and authorized by the entity may open the entity tool.
Next, as illustrated in block 306, the process 300 continues by receiving information about the resource deposit and confirming a lack of deposit window availability at a financial institution to deposit the resource deposit. In this way, the resource deposit may include a larger than average cash position for the entity based on a cash transaction or other physical cash received by the entity. The cash may not be able to be delivered to a financial institution based on truck routing, after hours, or the like. As such, the entity may be in a position to be holding larger than average cash deposits, in the form of a resource deposit at the entity location. The system may receive the information about the resource deposit, such as the amount, location, type, or the like. Furthermore, the system may identify a lack of a financial institution deposit window available for that time or for the near future. This may be due to an after-hours transaction, armored vehicle routing, logistical scheduling, or the like.
As illustrated in block 308, once the system has identified the cash and a lack of a deposit window available for distribution of the cash to the financial institution, the system may approve and issue a provisional credit for the cash. In this way, the system may provide a provisional credit in the entity's financial institution account for the cash that the entity still has at its physical location. As such, the provisional credit may be used and manipulated by the entity as if it was resources deposited within the account. Upon a deposit window opening up, the cash may be deposited and replace the provisional credit. However, prior to that occurrence, the system may provide the provisional credit and provide insurance for the cash at the entity's physical location.
As illustrated in block 310, the process 300 continues by transmitting an approval of the provisional credit from the system to the financial institution account associated with the entity. As such, the entity account may illustrate a deposit of the provisional credit within the account, even though the cash is still associated with and at the entity location and has not been deposited. This then allows the entity to manipulate the funds associated with the provisional credit without the deposit of the cash resources, as illustrated in block 312. Once the cash is deposited, the system may replace the provisional credit with the cash deposit and preform reconciliation of the account.
FIG. 4 provides a process map illustrating a lifecycle for safe resource recycling 400, in accordance with one embodiment of the present invention. As illustrated in block 805, the system provides a provisional credit to the entity and verifies posting of the resources at the financial institution in block 804. This occurs when the entity creates an electronic deposit, but the cash has not been provided to the transportation. As such the entity may create the deposit, as illustrated in block 801, however the cash has not been delivered or picked up, so the cash is not being delivered in block 802 or in a vault, as illustrated in block 803. Instead, the cash may maintain at the entity, while upon creation of the electronic deposit, the system may provide a provisional credit for the user based on the deposit ticket.
As illustrated, each of the entity, transportation, vault, and financial institution have direct access to the system that comprises a web portal, mobile access, and file transmission for payments and receipts, information reporting and reconciliation, and cash management of liquidity solutions.
In some embodiments, an entity resource exchange system further comprises a system for financial institutions for integration and for facilitation of direct resource exchange or purchase across one or more financial institutions. In this way, the system may establish an exchange program directly between financial institutions to identify, trade, and digitally settle cash between the institutions. The system leverages the existents of settlement accounts and traditional settlement processing at the front-end for presenting the available resources for identifying potential matches for resource denominational exchange among institutions.
FIG. 5 provides a process map illustrating standard resource depositing with deposit window availability 400, in accordance with one embodiment of the present invention. As illustrated in block 401, the process 400 is initiated by creating a store deposit. The process 400 then continues by tracking the transportation of the resources, as illustrated in block 402. Next, as illustrated in block 403, the system may track the resources in the vault and finally, verify the posting of the resource distribution as illustrated in block 404. All of the steps of the process 400 are transmitted to a centralized data service including a web portal, mobile access, and file transmission for the process.
In some embodiments, a safe resource recycler system may further comprise an entity provided provisional credit of resources for affiliate entities. In this way, the system may provide a safe resource for an entity that may have cash from a large deposit, purchase, or the like and not be able to distribute the cash to the financial institution. In this way, the system may confirm the cash and provide the entity with a tool to give credit to the entity for the cash they have, but have not deposited. The system thus allows the entity to manage internal cash before the funds are in control of the financial institution.
As illustrated in FIG. 6, entities have the ability to enter deposits directly into the system and the ability to scan deposit bag numbers from a mobile application that interfaces with the system. In other embodiments, the system may link to armored vehicles to provide information upon receipt and scan of resources to financial institutions and along the supply chain.
In some embodiments, the system becomes the system of record for digital deposits, real-time deposit tracking, self-service issue resolution, administration of deposit instructions, and completes the existing user experience to include resources and to enhance visibility of resource flow forecast, financial institution reconciliation and reporting.
As illustrated, each of the entity, transportation, vault, and financial institution have direct access to the system that comprises a web portal, mobile access, and file transmission for payments and receipts, information reporting and reconciliation, and cash management of liquidity solutions.
As will be appreciated by one of ordinary skill in the art, the present invention may be embodied as an apparatus (including, for example, a system, a machine, a device, a computer program product, and/or the like), as a method (including, for example, a business process, a computer-implemented process, and/or the like), or as any combination of the foregoing. Accordingly, embodiments of the present invention may take the form of an entirely software embodiment (including firmware, resident software, micro-code, and the like), an entirely hardware embodiment, or an embodiment combining software and hardware aspects that may generally be referred to herein as a “system.” Furthermore, embodiments of the present invention may take the form of a computer program product that includes a computer-readable storage medium having computer-executable program code portions stored therein. As used herein, a processor may be “configured to” perform a certain function in a variety of ways, including, for example, by having one or more special-purpose circuits perform the functions by executing one or more computer-executable program code portions embodied in a computer-readable medium, and/or having one or more application-specific circuits perform the function. As such, once the software and/or hardware of the claimed invention is implemented the computer device and application-specific circuits associated therewith are deemed specialized computer devices capable of improving technology associated with the in authorization and instant integration of a new credit card to digital wallets.
It will be understood that any suitable computer-readable medium may be utilized. The computer-readable medium may include, but is not limited to, a non-transitory computer-readable medium, such as a tangible electronic, magnetic, optical, infrared, electromagnetic, and/or semiconductor system, apparatus, and/or device. For example, in some embodiments, the non-transitory computer-readable medium includes a tangible medium such as a portable computer diskette, a hard disk, a random access memory (RAM), a read-only memory (ROM), an erasable programmable read-only memory (EPROM or Flash memory), a compact disc read-only memory (CD-ROM), and/or some other tangible optical and/or magnetic storage device. In other embodiments of the present invention, however, the computer-readable medium may be transitory, such as a propagation signal including computer-executable program code portions embodied therein.
It will also be understood that one or more computer-executable program code portions for carrying out the specialized operations of the present invention may be required on the specialized computer include object-oriented, scripted, and/or unscripted programming languages, such as, for example, Java, Perl, Smalltalk, C++, SAS, SQL, Python, Objective C, and/or the like. In some embodiments, the one or more computer-executable program code portions for carrying out operations of embodiments of the present invention are written in conventional procedural programming languages, such as the “C” programming languages and/or similar programming languages. The computer program code may alternatively or additionally be written in one or more multi-paradigm programming languages, such as, for example, F#.
It will further be understood that some embodiments of the present invention are described herein with reference to flowchart illustrations and/or block diagrams of systems, methods, and/or computer program products. It will be understood that each block included in the flowchart illustrations and/or block diagrams, and combinations of blocks included in the flowchart illustrations and/or block diagrams, may be implemented by one or more computer-executable program code portions. These one or more computer-executable program code portions may be provided to a processor of a special purpose computer for the authorization and instant integration of credit cards to a digital wallet, and/or some other programmable data processing apparatus in order to produce a particular machine, such that the one or more computer-executable program code portions, which execute via the processor of the computer and/or other programmable data processing apparatus, create mechanisms for implementing the steps and/or functions represented by the flowchart(s) and/or block diagram block(s).
It will also be understood that the one or more computer-executable program code portions may be stored in a transitory or non-transitory computer-readable medium (e.g., a memory, and the like) that can direct a computer and/or other programmable data processing apparatus to function in a particular manner, such that the computer-executable program code portions stored in the computer-readable medium produce an article of manufacture, including instruction mechanisms which implement the steps and/or functions specified in the flowchart(s) and/or block diagram block(s).
The one or more computer-executable program code portions may also be loaded onto a computer and/or other programmable data processing apparatus to cause a series of operational steps to be performed on the computer and/or other programmable apparatus. In some embodiments, this produces a computer-implemented process such that the one or more computer-executable program code portions which execute on the computer and/or other programmable apparatus provide operational steps to implement the steps specified in the flowchart(s) and/or the functions specified in the block diagram block(s). Alternatively, computer-implemented steps may be combined with operator and/or human-implemented steps in order to carry out an embodiment of the present invention.
While certain exemplary embodiments have been described and shown in the accompanying drawings, it is to be understood that such embodiments are merely illustrative of, and not restrictive on, the broad invention, and that this invention not be limited to the specific constructions and arrangements shown and described, since various other changes, combinations, omissions, modifications and substitutions, in addition to those set forth in the above paragraphs, are possible. Those skilled in the art will appreciate that various adaptations and modifications of the just described embodiments can be configured without departing from the scope and spirit of the invention. Therefore, it is to be understood that, within the scope of the appended claims, the invention may be practiced other than as specifically described herein.

Claims

What is claimed is:

1. A system for a resource recycling network, the system comprising:

a memory device with computer-readable program code stored thereon;

a communication device;

a processing device operatively coupled to the memory device and the communication device, wherein the processing device is configured to execute the computer-readable program code to:

authorize an entity for access to the resource recycling network, wherein upon authorization an application tool is deployed on an entity server for the entity access to the resource recycling network;

identify a physical resource influx occurrence and the entity;

trigger, based in the influx, initiation of the application tool at the entity server;

receive characterization data about the physical resource influx including an amount of influx and identification of no deposit window available for the influx;

transmit, via the resource recycling network, a provisional resource access for immediate entity manipulation;

allow, via the application tool, manipulation of the provisional resource access; and

reconcile, upon deposition, the physical resource influx with the provisional resource access.

2. The system of claim 1, wherein identifying the physical resource influx occurrence and the entity further comprises identifying the physical resource influx at a time when no deposit window is available for the entity.

3. The system of claim 1, wherein authorizing the entity for access to the resource recycling network further comprises accessing and integration of the application tool into point-of-transaction devices associated with the entity.

4. The system of claim 1, wherein authorizing the entity for access to the resource recycling network further comprises accessing financial institution accounts associated with the entity for deployment of provisional resource.

5. The system of claim 1, wherein identifying the physical resource influx occurrence and the entity further comprises identifying a level of cash above a threshold at a location associated with the entity, wherein the cash is received from a transaction.

6. The system of claim 1, wherein allowing, via the application tool, manipulation of the provisional resource access further comprises allowing the entity to manipulate the provisional resource access within an account as if the provisional resource access was the physical resource influx.

7. The system of claim 1, wherein the provisional resource access comprises a credit placed in an account of the entity for an amount of the physical resource influx before the physical resource influx is deposited within the account.

8. A computer program product for a resource recycling network, the computer program product comprising at least one non-transitory computer-readable medium having computer-readable program code portions embodied therein, the computer-readable program code portions comprising:

an executable portion configured for authorizing an entity for access to the resource recycling network, wherein upon authorization an application tool is deployed on an entity server for the entity access to the resource recycling network;

an executable portion configured for identifying a physical resource influx occurrence and the entity;

an executable portion configured for triggering, based in the influx, initiation of the application tool at the entity server;

an executable portion configured for receiving characterization data about the physical resource influx including an amount of influx and identification of no deposit window available for the influx;

an executable portion configured for transmitting, via the resource recycling network, a provisional resource access for immediate entity manipulation;

an executable portion configured for allowing, via the application tool, manipulation of the provisional resource access; and

an executable portion configured for reconciling, upon deposition, the physical resource influx with the provisional resource access.

9. The computer program product of claim 8, wherein identifying the physical resource influx occurrence and the entity further comprises identifying the physical resource influx at a time when no deposit window is available for the entity.

10. The computer program product of claim 8, wherein authorizing the entity for access to the resource recycling network further comprises accessing and integration of the application tool into point-of-transaction devices associated with the entity.

11. The computer program product of claim 8, wherein authorizing the entity for access to the resource recycling network further comprises accessing financial institution accounts associated with the entity for deployment of provisional resource.

12. The computer program product of claim 8, wherein identifying the physical resource influx occurrence and the entity further comprises identifying a level of cash above a threshold at a location associated with the entity, wherein the cash is received from a transaction.

13. The computer program product of claim 8, wherein allowing, via the application tool, manipulation of the provisional resource access further comprises allowing the entity to manipulate the provisional resource access within an account as if the provisional resource access was the physical resource influx.

14. The computer program product of claim 8, wherein the provisional resource access comprises a credit placed in an account of the entity for an amount of the physical resource influx before the physical resource influx is deposited within the account.

15. A computer-implemented method for a resource recycling network, the method comprising:

providing a computing system comprising a computer processing device and a non-transitory computer readable medium, where the computer readable medium comprises configured computer program instruction code, such that when said instruction code is operated by said computer processing device, said computer processing device performs the following operations:

authorizing an entity for access to the resource recycling network, wherein upon authorization an application tool is deployed on an entity server for the entity access to the resource recycling network;

identifying a physical resource influx occurrence and the entity;

triggering, based in the influx, initiation of the application tool at the entity server;

receiving characterization data about the physical resource influx including an amount of influx and identification of no deposit window available for the influx;

transmitting, via the resource recycling network, a provisional resource access for immediate entity manipulation;

allowing, via the application tool, manipulation of the provisional resource access; and

reconciling, upon deposition, the physical resource influx with the provisional resource access.

16. The computer-implemented method of claim 15, wherein identifying the physical resource influx occurrence and the entity further comprises identifying the physical resource influx at a time when no deposit window is available for the entity.

17. The computer-implemented method of claim 15, wherein authorizing the entity for access to the resource recycling network further comprises accessing and integration of the application tool into point-of-transaction devices associated with the entity.

18. The computer-implemented method of claim 15, wherein authorizing the entity for access to the resource recycling network further comprises accessing financial institution accounts associated with the entity for deployment of provisional resource.

19. The computer-implemented method of claim 15, wherein identifying the physical resource influx occurrence and the entity further comprises identifying a level of cash above a threshold at a location associated with the entity, wherein the cash is received from a transaction.

20. The computer-implemented method of claim 15, wherein the provisional resource access comprises a credit placed in an account of the entity for an amount of the physical resource influx before the physical resource influx is deposited within the account.