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

Abstract

A Universal Positive Pay Database (UPPD) method, system, and/or computer useable medium to reduce financial transaction fraud. A UPPD database is configured to store thereon transaction records associated with financial transactions corresponding to customers of the UPPD database. A particular financial transaction is initiated between a payer and a payee by providing parameters associated with the financial transaction to the UPPD database. An Issue File is provided to the UPPD database that includes parameters associated with the particular financial transaction. A correspondence determination is made between the financial transaction parameters from the Issue File and the financial transaction parameters provided to the UPPD database at every point along the financial transaction clearing process. The customer, payer, payee, payee bank, drawee bank, and banking institutions intermediate the payee bank and the drawee bank are able to access the correspondence determination at every point along the financial transaction clearing process.

1 - 199 . (canceled) 
     
     
         200 . A computer implemented method for detecting fraud in financial transactions during a payment clearing process, said method comprising:
 storing in a database records of financial transactions relating to payments, including at least a first record of a first financial transaction, each financial transaction record including a plurality of parameters,   receiving at the database a plurality of separate records of the first financial transaction from at least two of the following participants in the payment clearing process: payee, payee bank, intermediary bank, bank of first deposit, clearing bank, Federal Reserve Bank, third party payment processor and payer bank;   each of said separate records received at the database including at least some of the same parameters stored in the first record,   determining if there is a match between at least two of the parameters of each said separate record of the first financial transaction received at the database and the same parameters of the first record of the first financial transaction stored in the database, and   sending a notification to the participant regarding the matching of the parameters of the separate record with the first record.   
     
     
         201 . The computer implemented method of  claim 200  for detecting fraud in financial transactions, wherein the parameters include at least two of the following: check number, amount, account number, routing number, issue date, and payee. 
     
     
         202 . The computer implemented method of  claim 200  for detecting fraud in financial transactions, wherein the first financial transaction may be at least one of check payment, credit card payment, debit card payment, and electronic payment. 
     
     
         203 . The computer implemented method of  claim 200  for detecting fraud in financial transactions, wherein the database receives the first record of the first financial transaction from one of the following: a point of sale (POS), a point of presentment (POP), a point of encashment (POE), a point of data (POD), an automated teller machine, an online account, an interne point of sale, and a mobile device. 
     
     
         204 . The computer implemented method of  claim 200  for detecting fraud in financial transactions, wherein the computer performs at least two of the following steps: archiving check register information in a record, storing check register information in a record, matching data in a record, verifying data in a record, and authenticating data in a record. 
     
     
         205 . The computer implemented method of  claim 200  for detecting fraud in financial transactions, wherein the computer performs the step of compiling a behavior matrix for a payer based upon the financial transaction records of the payer stored in the database. 
     
     
         206 . The computer implemented method of  claim 200  for detecting fraud in financial transactions, wherein the computer performs the step of authenticating the record of the first financial transaction received from a participant in the payment clearing process with information in the first record and communicating to the participant the results of the authenticating. 
     
     
         207 . A computer implemented method for detecting fraud in a check clearing process, said method comprising:
 providing a computer having a database;   storing in said database check register information relating to a check executed by a payer for payment, the check register information including at least three of the following: a check number, a date issued, a payee, a routing number, an account number, and an amount;   providing a network interface available to at least two participants in the check clearing process selected from the group comprising: the payer who executed the check, a payee of the executed check, a payee bank, a payer bank, banking institutions intermediate the payee bank and the payer bank, a clearing bank, a Federal Reserve Bank, and a third party processor;   enabling the at least two participants to communicate separately with the computer via the network interface in order to determine correspondence between the check register information stored in said database and the check register information on the executed check as it is presented for payment as it moves along the check clearing process;   providing a notification to each of the at least two participants, wherein the notification includes results of the correspondence determination to detect whether tampering or altering has occurred to the executed check as it moves along the check clearing process.   
     
     
         208 . The computer implemented method of  claim 207  for detecting fraud in a check clearing process, wherein the first check may be at least one of written check payment, electronic check payment, imaged check payment, check card payment, and debit card payment. 
     
     
         209 . The computer implemented method of  claim 207  for detecting fraud in a check clearing process, wherein the database receives the first record of the first check from one of the following: a point of sale (POS), a point of presentment (POP), a point of encashment (POE), a point of data (POD), an automated teller machine, an online account, an internet point of sale, and a mobile device. 
     
     
         210 . The computer implemented method of  claim 207  for detecting fraud in a check clearing process, wherein the computer automatically polls for check register information for receiving and storing on the database. 
     
     
         211 . The computer implemented method of  claim 207  for detecting fraud in a check clearing process, wherein the computer performs at least two of the following steps: archiving check register information in a record, storing check register information in a record, matching data in a record, verifying data in a record, and authenticating data in a record. 
     
     
         212 . The computer implemented method of  claim 207  for detecting fraud in a check clearing process, wherein the computer performs the step of compiling a behavior matrix for a payer based upon the checking account records of the payer stored in the database. 
     
     
         213 . The computer implemented method of  claim 207  for detecting fraud in a check clearing process, wherein the computer performs the step of authenticating the record of the first check received from a participant in the check clearing process with information in the first record and communicating to the participant the results of the authenticating. 
     
     
         214 . A computer implemented method for detecting errors in processing financial transactions, said method comprising:
 providing at least one computer having a processor, an area of main memory, and a storage device having a database;   storing in the database records of financial transactions relating to payments, including at least a first record of a first financial transaction, each financial transaction record including a plurality of parameters;   receiving at the computer a second record of the first financial transaction from a participant in a payment clearing process as the first financial transaction moves through the payment clearing process, the second record including at least some of the same parameters that are in the first record of the first financial transaction,   wherein the participant is selected from the group comprising: payee, payee bank, intermediary bank, bank of first deposit, clearing bank, Federal Reserve Bank, payer bank and third party payment processor;   determining if there is a match between at least one of the parameters of the second record of the first financial transaction received at the computer and one of the same parameters in the first record of the first financial transaction stored in the database, and   sending a notification to the participant with results from the matching of the parameters of the second record with the parameters of the first record.   
     
     
         215 . The computer implemented method of  claim 214  for detecting errors in processing financial transactions, wherein the first financial transaction may be at least one of a check payment, a credit card payment, a debit card payment, a funds transfer payment and an electronic payment. 
     
     
         216 . The computer implemented method of  claim 214  for detecting errors in processing financial transactions, wherein the database receives the first record of the first financial transaction from one of the following: a point of sale (POS), a point of presentment (POP), a point of encashment (POE), a point of data (POD), an automated teller machine, an online account, an internet point of sale, and a mobile device. 
     
     
         217 . The computer implemented method of  claim 214  for detecting errors in processing financial transactions, wherein the computer automatically polls check register information for receiving at the computer and storing on the database. 
     
     
         218 . The computer implemented method of  claim 214  for detecting errors in processing financial transactions, wherein the computer performs at least two of the following steps: archiving check register information in a record, storing check register information in a record, matching data in a record, verifying data in a record, and authenticating data in a record. 
     
     
         219 . The computer implemented method of  claim 214  for detecting errors in processing financial transactions, wherein the computer compiles a behavior matrix for a payer based upon the financial transaction records of the payer stored in the database.