Patent ID: 8706758
Filing Date: 2014-04-22
Classification: G06F,G06Q

Abstract:
1. A computer implemented method of reconciling financial transactions on a computer having at least a first dataset and a second dataset, comprising the steps of: aligning attributes of a first plurality of transactions having monetary values using a statistical technique to automatically enumerate pairs of attributes in which one member of the pair is a first attribute from the first dataset and the other member of the pair is a second attribute from the second dataset, and wherein aligning attributes of the first plurality of transactions further comprises identifying which of the enumerated pairs are super-attributes; performing top-down reconciling, wherein performing top-down reconciling comprises: performing further reconciling using an information theory technique on a second plurality of transactions where the summed monetary value for each group of transactions taken from the first plurality of transactions was not zero, wherein performing further reconciling comprises: iteratively repeating the performing of top-down reconciling and the performing of further reconciling for a fifth plurality of transactions taken from the first plurality of transactions which were not reconciled or iteratively reconciled into the first, second or third set of uniquely reconciled groups or until no further reconciled groups can be found; wherein performing the aligning, top-down reconciling and further reconciling steps do not depend on dataset-specific heuristics requiring any human input beyond specifying the first and second datasets to be reconciled; and wherein the aligning, top-down reconciling and further reconciling are performed by the computer.