Patent ID: 8650122
Filing Date: 2014-02-11
Classification: G06Q

Abstract:
1. A method for automated settlement of a financial transaction, comprising: receiving, using a microprocessor of an interactive voice response system computer, a request from a caller at a currency-dispensing entity of a foreign branch of the caller's home bank for the financial transaction by the caller's home bank consisting at least in part of dispensing of a foreign branch currency by the currency-dispensing entity of the foreign branch of the caller's home bank to the caller, identifying, using the microprocessor of an interactive voice response system computer, the caller by receiving and confirming information received from the caller, calculating, using the microprocessor of the interactive voice response system computer, an amount of foreign branch currency approved for dispensing to the caller based at least in part on a current rate of exchange between a home bank currency and the foreign branch currency of the currency-dispensing entity accessed by the interactive voice response system computer, communicating, using the microprocessor of the interactive voice response system computer, to the currency-dispensing entity of the foreign branch of the caller's home bank the amount of foreign branch currency approved for dispensing to the caller in a language of the currency-dispensing entity of the foreign branch of the caller's home bank; and automatically initiating, using the microprocessor of the interactive voice response system computer, a settlement of the financial transaction consisting at least in part of communicating an approval of the financial transaction to the caller's home bank and on-line debiting of a caller's settlement account and corresponding credit of a settlement account of the currency-dispensing entity of the foreign branch, said caller's settlement account and said settlement account of the currency-dispensing entity of the foreign branch being maintained in a single physical location.