AUTOMATIC PROCESSING OF BANK DRAFT

Field of the Disclosure: -
The present disclosure refers to automatic processing of bank draft and specifically but not limited to automatic processing of bank draft at an automated electronic banking facility such as an Automated Teller Machine.
Background: -
Banking systems and processes have always been in the process of evolution for the betterment and convenience of the customers. In ancient times, barter system was used for the trade of goods and services. In modern times, however, this method has been replaced by currency system as each country has its own currency. However, when the money involved in a transaction becomes huge, the exchange of physical currency is prone to fraud. Hence, a new way to bypass this complicated process was devised and called a bank draft. A bank draft or a cashier's check/official check/ demand draft/ teller's check or treasurer's check are all financial instruments guaranteed by a bank. Bank draft is a term used in the United Kingdom as well as in India while the term Cashier's check is used in the United States. In contrast to a bank cheque that can be issued by an individual, even when there are insufficient funds in his account; a bank draft can be acquired from the banks only when the required amount is paid in full along with a service charge to the banks by the concerned person. Thus, a bank draft eliminates the disadvantages of a traditional cheque.
A bank draft or a demand draft is an authenticated instrument of credit for remitting money. Payments in the form of a bank draft have greatly helped in the financing of domestic and foreign trade. A bank draft has the information like the name of the issuing bank, signature of one or two bank officers or authorized officials with their employee code, bank routing number, amount payable, the person to whom the amount is
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payable, payable at etc. In addition, the draft has various security features like watermarks, security thread, special bond paper etc to prevent counterfeit drafts and other such fraudulent activities. In addition, there are other advantages of using a bank draft such as it would never bounce due to insufficient funds and the customer will have a good credit history and credibility. In addition, there would be no late fee charges or penalty levied by the bank on the customer, as in the case of a normal bank cheque. Moreover, a customer who does not have an account with a bank can also get a bank draft of the same bank.
However, to obtain a bank draft a customer is required to visit the particular bank in person with the cheque and demand draft form filled out. This is highly inconvenient for professionals who are working and especially if the bank draft is required urgently on a non working day.
Summary: -
Embodiments of the present disclosure illustrate automatic processing of a bank draft at an electronic banking facility such as an Automated Teller Machine and a bank kiosk.
An embodiment of the present disclosure illustrates a system for automatic processing of bank drafts at an automated electronic banking facility comprising at least one transaction unit, an authentication unit operatively coupled to the transaction unit, authority database operatively coupled to the authentication unit and a printing device operatively coupled to the transaction unit and the authority database.
According to an embodiment of the present disclosure, a storage unit is coupled to the printing device. According to an example of the embodiment, the storage unit is configured to store bank drafts and cheque for later printing.
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According to an embodiment of the present disclosure, the transaction unit is configured to process transaction by a user for automated processing of bank drafts via a user interface, A user is enabled to input the details required on the bank draft or cheque as well as concerned account for which the payment is to be remitted.
In accordance with an embodiment of the disclosure, the authentication unit is configured to verify credentials input by the user during transaction against details in the authority database. According to an example of the embodiment, the authority database is the database of the bank wherefrom the draft or cheque is being issued.
In accordance with another embodiment of the disclosure, the printing device is configured to print details input by a user on bank draft from the storage unit. According to another embodiment of the disclosure, the printing device is further configured to imprint a bank draft with security features based on information received from the authority database.
According to an embodiment of the present disclosure, the system is configured to process the transaction of bank draft for encashment as well. According to an embodiment, the transaction unit further comprises a scanner configured to scan a bank draft input by a user for encashment.
In accordance with an embodiment of the present disclosure, the authentication unit is configured to verify the information scanned by the transaction unit against details in the authority database.
According to an embodiment, the authentication unit is configured to reflect the necessary changes in the authority database as well as user's account.
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According to an embodiment of the present disclosure, an automated electronic banking facility comprises at least one transaction unit, an authentication unit operatively coupled to the transaction unit, authority database operatively coupled to the authentication unit and a printing device operatively coupled to the transaction unit and the authority database.
Another embodiment of the present disclosure illustrates a method for automatic processing of bank draft at an automated electronic banking facility comprising processing transaction request by a user, verifying credentials of the user against the details in an authority database, printing details input by a user on bank draft, imprinting security features on the bank draft based on information received from the authority database and providing the user with the bank draft as per the transaction request.
According to an embodiment of the present disclosure, the method further comprises scanning a bank draft input by a user for encashment, verifying scanned information against details in the authority database and dispensing cash on verification as per details read from the bank draft. Further, according to the embodiment, method comprises reflecting necessary changes in the authority database as well as user's account.
Brief Description of Drawings: -
The detailed description is described with reference to the accompanying figures. In the figures, the left-most digit(s) of a reference number identifies the figure in which the reference number first appears. The same numbers are used throughout the drawings to reference like features and components.
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Figure 1 refers to a block diagram representation illustrating a system for
automatic processing of bank draft at an automated electronic banking facility according to an embodiment of the present disclosure.
Figure 2 refers to a flow diagram representation illustrating a method for
automatic processing of bank draft at an automated electronic banking facility according to an embodiment of the present disclosure.
Figure 3 refers to a flow diagram representation illustrating generation of a bank
draft according to an embodiment of the present disclosure.
Figure 4 refers to a flow diagram representation illustrating generation of a bank
draft at an automated electronic banking facility according to an embodiment of the present disclosure.
Figure 5 refers to a flow diagram representation illustrating encashment of a bank
draft at an automated electronic banking facility according to an embodiment of the present disclosure.
Detailed Description: -
The following discussion provides a brief, general description of a suitable computing environment in which various embodiments of the present disclosure can be implemented. The aspects and embodiments are described in the general context of computer executable mechanisms such as routines executed by a general purpose computer e.g. a server or personal computer. The embodiments described herein can be practiced with other system configurations, including Internet appliances, hand held devices, multi-processor systems, microprocessor based or programmable consumer electronics, network PCs, mini computers, mainframe computers and the like. The embodiments can be embodied in a special purpose computer or data processor that is
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specifically programmed configured or constructed to perform one or more of the computer executable mechanisms explained in detail below.
Exemplary embodiments now will be described with reference to the accompanying drawings. The disclosure may, however, 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 be thorough and complete, and will fully convey its scope to those skilled in the art. The terminology used in the detailed description of the particular exemplary embodiments illustrated in the accompanying drawings is not intended to be limiting. In the drawings, like numbers refer to like elements.
The specification may refer to "an", "one" or "some" embodiment(s) in several locations. This does not necessarily imply that each such reference is to the same embodiment(s), or that the feature only applies to a single embodiment. Single features of different embodiments may also be combined to provide other embodiments.
As used herein, the singular forms "a", "an" and "the" are intended to include the plural forms as well, unless expressly stated otherwise. It will be further understood that the terms "includes", "comprises", "including" and/or "comprising" when used in this specification, specify the presence of stated features, integers, steps, operations, elements, and/or components, but do not preclude the presence or addition of one or more other features, integers, steps, operations, elements, components, and/or groups thereof. It will be understood that when an element is referred to as being "connected" or "coupled" to another element, it can be directly connected or coupled to the other element or intervening elements may be present. Furthermore, "connected" or "coupled" as used herein may include wirelessly connected or coupled. As used herein, the term "and/or" includes any and all combinations and arrangements of one or more of the associated listed items.
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Unless otherwise defined, ail terms (including technical and scientific terms) used herein have the same meaning as commonly understood by one of ordinary skill in the art to which this disclosure pertains. It will be further understood that terms, such as those defined in commonly used dictionaries, should be interpreted as having a meaning that is consistent with their meaning in the context of the relevant art and will not be interpreted in an idealized or overly formal sense unless expressly so defined herein.
The figures depict a simplified structure only showing some elements and functional entities, all being logical units whose implementation may differ from what is shown. The connections shown are logical connections; the actual physical connections may be different. It is apparent to a person skilled in the art that the structure may also comprise other functions and structures. It should be appreciated that the functions, structures, elements and the protocols used in communication are irrelevant to the present disclosure. Therefore, they need not be discussed in more detail here.
In addition, all logical units described and depicted in the figures include the software and/or hardware components required for the unit to function. Further, each unit may comprise within itseif one or more components, which are implicitly understood. These components may be operatively coupled to each other and be configured to communicate with each other to perform the function of the said unit.
Figure 1 illustrates a system for automatic processing of bank draft at an automated electronic banking facility according to an embodiment of the present disclosure. The system comprises at least one transaction unit 102 coupled to a user interface 101 wherein the user inputs his requirements. An authentication unit 103 is operatively coupled to the transaction unit 102 wherein an authority database 104 is operatively coupled to the authentication unit 103. Further, a printing device 105 is coupled to the transaction unit 102 wherein the printing device 105 is coupled to a storage unit 106.
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The storage unit 106 comprises blank bank drafts, cashier cheques, which are printed by the printing device 105 as per the particulars, input by the user, and a ready draft is provided.
According to an embodiment of the present disclosure, the transaction unit 102 is configured to process the transaction request of a user for automated processing of bank draft/ cheques. The transaction unit 102 is coupled to the authentication unit 103, which is configured to authenticate and verify the details and credentials input by a user through the authority database 104. According to yet another embodiment, the auhtentication unit 103 verifies whether the user account has sufficient funds to warrant the payment as per the draft. The authority database 104 is database of the specific bank as the electronic banking facility. For e.g. if a user goes to an ATM outlet of bank ABC, the authority database is of the bank ABC. Only on verification by the authentication unit 103, the transaction unit 102 is configured to instruct the printing device 105 to prepare a bank draft based on the particulars input by the user.
Further, according to yet another embodiment of the present disclosure, the printing device 105 is further configured to imprint a bank draft with security features based on information received from the authority database 104.
According to an embodiment of the present disclosure, the printing device 105 is configured to imprint a column number on the bank draft to depict the amount multiples of the draft like tens, hundreds, thousands etc. The printing device is further configured to imprint bank employee identitiy number on the draft as per the credentials and details input by the user. The bank employee id number is imprinted on the ready bank draft provided to the user. According to yet another embodiment of the present disclosure, the printing device 105 is configured to imprint security marks on the bank drafts. The security marks are such as a pantograph encrypted with transaction details and a barcode. According to the embodiment, the barcode and the pantograph convey
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information such as bank draft number, amount on the draft, the bank name and address, payee name, date and time of generation of the bank draft, location of the electronic banking facility.
According to yet another embodiment of the present disclosure, an additional security feature as an Ultra Violet (UV) mark is imprinted by the printing device 105. According to an example of the embodiment, the UV mark is put across critical areas such as the payee name, amount, and date on the draft. According to yet another embodiment, the printing device 105 is configured to microprint on the bank draft with information such as the payee name, amount, bank and branch name. Such micro printing is verified by a user through a magnifying glass during clearence of the bank draft.
Such printing by the printing device 105 enables that any fraudulent activities are avoided and forgery may be deterred. The security features imprinted by the printing device 105 by way of UV, microprinting and pantographs cannot be altered even if the draft is tampered with and thus, a counterfiet draft is easily distinguished from an original draft.
According to an embodiment, once the printing device 105 provides a ready draft to the user, it is configured to alert the transaction unit 102 to update the user's account and deduct the amount of the draft through the authentication unit 103 and reflect the same in the authority database 104.
According to an embodiment, the transaction unit 102 at an automated electronic banking facility is configured to process a transaction request by a user for encashment. The transaction unit 102 comprises a scanner configured to scan a bank draft input by a user for encashment and the details on the bank draft are verified by the authentication unit 103 as per the details in the authority database 104. On verification of the details on
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the bank draft, the authentication unit 103 is configured to dispense cash through a cash dispenser as per details read from the bank draft.
Embodiments of the method for automatic processing of bank draft at an automated electronic banking facility according to various embodiments of the present disclosure are described in Figures 2, 3 4 and 5. The methods are illustrated as a collection of blocks in a logical flow graph, which represents a sequence of operations that can be implemented in hardware, software, or a combination thereof. The order in which the process is described is not intended to be construed as a limitation, and any number of the described blocks can be combined in any order to implement the process, or an alternate process.
Figure 2 of the present disclosure refers to a method for automatic processing of bank draft at an automated electronic banking facility comprising processing a transaction request by a user 201. According to an embodiment, the transaction request refers to generation of bank draft according to particulars and details input by a user. The credentials and details of the user are then verified against the details in an authority database 202. According to an embodiment, the authority database is the database of the bank of the particular electronic banking facility. Upon verification, the details input by the user are printed on the bank draft 203 and security features are also imprinted on the bank draft based on information received from the authority database 204.
According to an embodiment of the present disclosure, a column number is imprinted on the bank draft to depict the amount multiples of the draft like tens, hundreds, thousands etc. Further, bank employee identity number is imprinted on the draft as per the credentials and details input by the user. The bank employee id number is imprinted on the ready bank draft provided to the user. According to yet another embodiment of the present disclosure, security marks are imprinted on the bank drafts. The security marks are such as a pantograph encrypted with transaction details and a barcode.
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According to the embodiment, the barcode and the pantograph convey information such as bank draft number, amount on the draft, the bank name and address, payee name, date and time of generation of the bank draft, location of the electronic banking facility.
According to yet another embodiment of the present disclosure, an additional security feature as an Ultra Violet (UV) mark is imprinted on the bank draft According to an example of the embodiment, the UV mark is put across critical areas such as the payee name, amount, and date on the draft. According to yet another embodiment, the bank draft is micro printed with information such as the payee name, amount, bank and branch name. A user through a magnifying glass verifies such microprinttng during clearance of the bank draft.
Such printing deters any fraudulent activities and forgery. The security features imprinted by way of UV, microprinting and pantographs cannot be altered even if the draft is tampered with and thus, a counterfeit draft is easily distinguished from an original draft.
The ready bank draft is then provided to the user as per the transaction request 205. According to an embodiment of the present disclosure, a transaction request by the user may be an encashment request.
Figure 3 illustrates a flow diagram representation illustrating generation of a bank draft as per the user interface according to an embodiment of the present disclosure wherein the electronic banking facility is an ATM outlet. A user inserts ATM card into an ATM machine and inputs his ATM pin number 301. The interface reflects options such as Cash Withdrawal, Check balance, Generate draft etc. 302 where after the user selects an option. When the user selects the option of generate draft, according to an embodiment, he logs into his account using his username and password 303. The interface reflects the details required to be filled in such as enter payable to, enter payable at, enter amount
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304. Once, the user inputs the particulars, he can preview the bank draft for any editing and changes to be made 305. On confirmation, the draft is printed and transaction is finished 306.
Figure 4 refers to a flow diagram representation illustrating generation of a bank draft at an automated electronic banking facility according to an embodiment of the present disclosure. The ATM card is inserted into the system as per embodiment of Figure 1 401. The Pin number of the ATM card is entered 402 and this is verified with the card details 403 available in the authority database 404. If the Pin number is correct, enter the details for the draft such as Draft amount, payable at and payee name 406. However, if the Pin number is incorrect, a message is displayed regarding the incorrect pin number 405 and the user is requested to input the Pin number again. The option is available only thrice to a user as per an example of the embodiment of the present disclosure. Once a user inputs the details for the bank draft, the system verifies the available fund in the user's account 407. According to an embodiment of the present disclosure, the system checks the payable at entry and if it is not viable, it suggests the closest branch where it can be payable at 408. If fund is available in the account, the bank draft of requested amount is printed with the Payee name as per details input by the user and provided 411 else a message with no sufficient fund available is displayed 410 where after the user can request for a lower amount in the bank draft or cancel the transaction. The user then exits with exiting the ATM card from the machine 412.
Figure 5 refers to a flow diagram representation illustrating encashment of a bank draft at an automated electronic banking facility according to an embodiment of the present disclosure. A user inserts the bank draft into the system 501, wherein it is scanned and the details on the bank draft are read by the system 502. The details read are verified 503 though the bank database 504. It is then verified whether the details are correct or not 505. If not, then access to encashment of the bank draft is denied 510 and the bank database is updated accordingly regarding the malfunction in encashment 509. Else, the
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user is given an option of processing a cash transaction or transfer the amount to a bank account 506. Accordingly, the user is either provided cash 507 or requested to input account details for transfer of money directly to accounts 508. Following the transactions, the bank database is updated accordingly 509.
According to an embodiment of the present disclosure, the history of generation of bank drafts is logged and the log history can be viewed by the user at a later stage.
The embodiments of the present disclosure make it very convenient for a user to generate bank drafts especially on non-working days. It also improves the processing by banks as it is faster to generate bank drafts by way of an electronic banking facility.
As will be appreciated by one of skill in the art, the present invention may be embodied as a method, system, or computer program product. Accordingly, the present invention may take the form of an entirely hardware embodiment, a software embodiment or an embodiment combining software and hardware aspects all generally referred to herein as a "circuit" or "module." Furthermore, the present invention may take the form of a computer program product on a computer-usable storage medium having computer-usable program code embodied in the medium.
Furthermore, the present invention was described in part above with reference to flowchart illustrations and/or block diagrams of methods, apparatus (systems), and computer program products according to embodiments of the invention.
It will be understood that each block of the flowchart illustrations and/or block diagrams, and combinations of blocks in the flowchart illustrations and/or block diagrams, can be implemented by computer program instructions. These computer program instructions may be provided to a processor of a general purpose computer, special purpose computer, or other programmable data processing apparatus to produce a machine,
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such that the instructions, which execute via the processor of the computer or other programmable data processing apparatus, create means for implementing the functions/acts specified in the flowchart and/or block diagram block or blocks.
These computer program instructions may also be stored in a computer- readable memory that can direct a computer or other programmable data processing apparatus to function in a particular manner, such that the instructions stored in the computer-readable memory produce an article of manufacture including instruction means which implement the function/act specified in the flowchart and/or block diagram block or blocks.
The computer program instructions may also be loaded onto a computer or other programmable data processing apparatus like a scanner/check scanner to cause a series of operational steps to be performed on the computer or other programmable apparatus to produce a computer implemented process such that the instructions which execute on the computer or other programmable apparatus provide steps for implementing the functions/acts specified in the flowchart and/or block diagram block or blocks.
The flowchart and schematic diagrams of Figures 1-5 illustrate the architecture, functionality, and operations of some embodiments of methods, systems, and computer program products for automatic processing of bank draft at an automated electronic banking facility. In this regard, each block may represent a module, segment, or portion of code, which comprises one or more executable instructions for implementing the specified logical function(s). It should also be noted that in other implementations, the function(s) noted in the blocks may occur out of the order noted in the figures. For example, two blocks shown in succession may, in fact, be executed substantially concurrently or the blocks may sometimes be executed in the reverse order, depending on the functionality involved.
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In the drawings and specification, there have been disclosed exemplary embodiments of the invention. Although specific terms are employed, they are used in a generic and descriptive sense only and not for purposes of limitation, the scope of the invention being defined by the following claims
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claim: -

1. A system for automatic processing of bank drafts at an electronic banking facility
comprising: -
a. at least one transaction unit;
b. an authentication unit operatively coupled to the transaction unit;
c. authority database operatively coupled to the authentication unit; and
d. a printing device operatively coupled to the transaction unit and the
authority database.
2. The system as claimed in claim 1 wherein a storage unit is coupled to the printing device.
3. The system as claimed in claim 1 wherein the transaction unit is configured to process transaction by a user for automated processing of bank drafts via a user interface.
4. The system as claimed in claim 1 wherein the authentication unit is configured to verify credentials of the user during transaction against details in the authority database.
5. The system as claimed in claim 1 wherein the printing device is configured to print details input by a user on bank draft from the storage unit.
6. The system as claimed in claim 5 wherein the printing device is further configured to imprint a bank draft with security features based on information received from the authority database.
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7. The system as claimed in claim 1 wherein the transaction unit further comprises a scanner configured to scan a bank draft input by a user for encashment.
8. The system as claimed in claim 1 wherein the authentication unit is configured to verify the information scanned by the transaction unit against details in the authority database.
9. The system as claimed in claim 1 wherein the authentication unit is configured to dispense cash through a cash dispenser as per details read from the bank draft on verification.
10. The system as claimed in claim 1 wherein the authentication unit is configured to reflect the necessary changes in the authority database as well as user's account
11. A method for automatic processing of bank draft at an automated electronic banking facility comprising: -
a. processing transaction request by a user;
b. verifying credentials of the user against the details in an authority
database;
c. printing details input by a user on bank draft;
d. imprinting security features on the bank draft based on information
received from the authority database; and
e. providing the user with the bank draft as per the transaction request.
12. A method as claimed in claim 11 wherein said method further comprises: -
a. scanning a bank draft input by a user for encashment;
b. verifying scanned information against details in the authority database;
and
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c. dispensing cash on verification as per details read from the bank draft.
13. A method as claimed in claim 11 wherein said method comprises reflecting necessary changes in the authority database as well as user's account.

Dated this 16th day of August 2010

Of Anand and Anand Advocates
Agents for the Applicants