Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2007-09-11
2007-09-11
Chilcot, Jr., Richard E. (Department: 3692)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
C705S037000
Reexamination Certificate
active
09438590
ABSTRACT:
A system an method allowing customers of a banking institution to transmit bulk files of payment instructions to the bank for execution. The payment instructions may include a mix of domestic or international Automated Clearing House (ACH) transactions, domestic or international wire transfers, multibank transactions and instructions to print checks drawn on the receiving bank or at another bank. For payments requiring payment in a foreign currency in which the customer does not have an account the present invention automatically generates and executes a contract for the foreign exchange (FX) to obtain the currency required to fulfill the payment instruction. The automatic FX process can furthermore use a real time feed of foreign exchange rates as opposed to the static rates traditionally applied to such contracts.
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Concannon Andrea
Stuparich Mark
Chilcot Jr. Richard E.
JPMorgan Chase Bank N.A.
Liversedge Jennifer L.
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