Patent ID: 7725389
Filing Date: 2010-05-25
Classification: G06Q

Abstract:
1. A clearinghouse system for exchanging debits and credits between participating institutions, the system comprising: a plurality of remote computers of participating institutions; a central server; a network interface in communication with the central server and the plurality of remote computers over a network, the network interface being configured to receive a plurality of presentment data from one or more of the plurality of remote computers, each of the plurality of presentment data including one or more debit or credit items each having a presentment amount; a database in communication with the central server; wherein the central server: receives presentment data via the network interface from at least two of the plurality of remote computers of participating institutions; stores in the database the plurality of presentment data previously received over a predetermined rolling time period; calculates an average presentment amount of the stored presentment data for one or more of the participating institutions from which presentment data is received, wherein each average presentment amount represents an overall average presentment for each of respective participating institutions calculated; determines the difference between the average presentment amount and the presentment amount of the currently received presentment data; automatically initiates the debits and credits corresponding to the presentment data only when the difference is within a predetermined variance; verifies the debits and credits corresponding to the presentment data when the difference is more than the predetermined variance; and communicates at least a portion of the stored presentment data via the network interface to one or more of the plurality of remote computers on demand.