Registers – Systems controlled by data bearing records – Banking systems
Reexamination Certificate
2001-10-05
2004-01-27
Lee, Michael G. (Department: 2876)
Registers
Systems controlled by data bearing records
Banking systems
C705S042000, C705S043000
Reexamination Certificate
active
06681985
ABSTRACT:
BACKGROUND
The disclosure relates generally to systems management, and more particularly to financial systems management.
Analyzing systems for efficiency is an ongoing task. There are often ways to improve existing systems to make them more profitable, quicker or better. Automation is one example of a way to improve the efficiency of an existing system. One method of automation may be to use computers to perform data sorting tasks that previously had been performed by people.
Financial systems are an example of a system that may benefit from increased efficiencies. A typical branch banking establishment has a teller counter along one wall. The teller counter typically is relatively long and has room for five or more bank tellers to stand behind the counter. The teller counter is usually about waist high or higher for most people. The bank tellers remain behind the teller counter and interact with customers over the teller counter. Often a series of rooms exist behind the teller counter where bank tellers and other employees often go to perform administrative tasks, complete parts of transactions, etc.
Customers often must wait in line to perform typical branch banking functions at a traditional bank. As a result, customers may be hesitant to perform some or all transactions capable of being performed at branch banks. Additionally, customers may be reluctant to investigate all transactions performed by, or offerings of, a branch bank. This is exacerbated by the traffic flow in a traditional branch bank, which directs customers to a teller counter against one wall and discourages movement throughout the branch bank. Some banks have attempted to attract customers by providing flashing audio/visual content, such as described in U.S. Pat. No. 6,073,119.
Moreover, traditional branch banks are often intimidating to their customers and have very formal feels to them. By requiring customers to wait in line to talk to a teller standing behind a long teller counter, traditional branch banks increase the intimidation level of their customers. Traditional branch banks also have a very formal atmosphere, particularly because of the line, teller counter, and the “mysterious” rooms behind the teller counter. The passing back and forth of cash between the customer and teller also increases the formality of the situation.
Bank tellers often are involved in cash transactions with customers of the branch bank. For example, customers will often deposit cash with the bank or receive cash from the bank. Tellers have a cash drawer from which they will add or remove cash as appropriate. At the end of the day, tellers must “cash out” and show that all deposits and withdrawals are reflected in the cash drawer. Penalties may be levied on a teller by the branch bank if the cash drawer does not have the correct amount of cash at the end of the day. This causes additional stress on the tellers, resulting in lower employee happiness and retention. Additionally, this makes it more difficult to find suitable employees, as employees that are capable of handling large sums of cash need to be found.
Another problem with traditional branch banks is that there is a large amount of money in the bank that can be accessed, making the branch bank an inviting target for thieves or bank robbers. Many branch banks have attempted to solve this problem by storing the bulk of valuables (e.g., cash, financial instruments, etc.) in a safe that only a few employees have access to. Another solution is to have a safe that no employees have access to and that can instead only be accessed by an after-hours security service. These solutions, however, still result in a large amount of cash being available in teller drawers, keeping the branch bank an attractive target. In addition, safety precautions such as a large safe, reinforced teller counters, and other precautions add significantly to the cost of a branch bank.
Bank tellers perform a wide variety of tasks in their role with the branch bank. These tasks include performing account inquiries, depositing money or checks, withdrawing money from a customer's account, providing traveler's checks, answering questions, etc. Most of the tasks performed by a bank teller require the use of a bank teller computer located at the teller counter. The bank teller computer is connected via a network to a server computer that provides access to customer accounts and other necessary information. Using the bank teller computers, customer accounts may be accessed and customers served. Bank teller computers usually use a somewhat large area of the teller counter (for the keyboard, pointing device, monitor, etc.), limiting the number of tellers that may use a teller counter at one time.
However, the time necessary to perform the transactions can vary greatly. Because customers often must wait in line to perform typical branch banking functions, many customers have to wait for a long time to have a quick and easy service performed, such as depositing a check or performing an account inquiry. Waiting in a long line to perform a transaction that takes a few seconds is very inefficient. Long waits may also put customers in a bad mood, discourage them from visiting the bank, or cause them to use a different bank altogether.
As noted above, bank tellers at traditional branch banks use bank teller computers located at the teller counter to perform transactions and service customers. Data is often input to computers or processors using a variety of input devices, including manual input devices. Typical manual computer input devices include keyboards or keypads, mice, trackballs, joysticks, and the like. Data may also be input to computers using a variety of automated techniques, such as optical and magnetic. Magnetic input devices include magnetic card swipe readers that read, for example, magnetic stripes on most credit and debit cards.
Some computers employ optical input systems. One rapid method of inputting data into a computer employs reading bar codes or other optically (or magnetically) readable characters. An optical input system such as an LED pen or laser scanner provides information to a processor in a computer, where the processor in turn decodes the bar codes into appropriate data characters. Other magnetic input devices include Magnetic Ink Character Recognition (MICR) input devices that may read the bank checks printed with magnetic ink.
Laser scanners in point-of-sale terminals are specifically designed to rapidly decode bar code symbols (particularly UPC symbols) on products. Point-of-sale terminals are terminals where retail and other items are purchased. Such laser scanner point-of-sale terminals can read only bar code symbols, and typically only bar code symbols selected from a preprogrammed symbology. A separate device at the point-of-sale takes credit or debit card information (such as a magnetic card reader), while another device receives the manual input and performs computations, such as a cash register.
Such separate devices are costly in the aggregate for any facility. Further, interfaces may be necessary for the separate devices to communication with each other or with a separate, remote computer. Moreover, these devices are often bulky and limited to fixed point applications. While such systems improve efficiencies of tasks performed by tellers and others, there is still a need to provide improved efficiencies and improve customer service.
Overall, there is a need for a branch banking system that solves the above problems while supplying the above benefits, as well as providing other advantages.
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patent: 5
Conway Mark J.
Curtin Karen
Link Jeffrey C.
Nelson David W.
Oppenheimer Deanna W.
Koyama Kumiko C.
Lee Michael G.
Washington Mutual, Inc.
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