Patent ID: 7689483

Claim:
A system for facilitating payment of accounts payables from a foreign financial institution for a customer of a domestic financial institution, the system comprising: a first financial institution computer positioned at a domestic financial institution site to define a domestic financial institution server, the domestic financial institution server having memory associated therewith, the memory being a tangible, computer-readable storage medium; foreign exchange analyzing computer program product stored in the memory of the domestic financial institution server as a set of instructions executable on the domestic financial institution server to analyze a foreign exchange transaction, the foreign exchange analyzing program product including: an accounts payable batch identifier positioned to tag an accounts payable batch data file having a plurality of individual accounts payables received from a customer with a batch data file identifier, the accounts payable batch data file being defined by the plurality of individual accounts payables collected as a collective group so that the plurality of accounts payables is positioned to be further processed simultaneously and collectively, a regulatory screener positioned to receive the tagged accounts payable batch data file, having a preselected regulatory criteria associated with a foreign financial transaction, and positioned to screen the accounts payable batch data file for any transactional data of the collective group of the plurality of accounts payables failing to meet the preselected regulatory criteria, a foreign exchange transaction determiner positioned to receive the tagged accounts payable batch data file to determine an aggregate amount of foreign currency desired by the customer to pay an aggregate of the collective group of the plurality of individual accounts payables in the accounts payable batch data file and to request a foreign exchange quote on the aggregate amount, a foreign exchange contract confirmer positioned to receive the foreign exchange quote on the aggregate amount and to confirm that the customer desires to complete a foreign exchange based on the foreign exchange quote, and a foreign exchange transaction transferor responsive to the foreign exchange contract confirmer to initiate transfer of foreign currency funds of a selected foreign currency into a nostro account associated with the foreign financial institution and to transfer the accounts payable batch data file to the foreign financial institution for payment of the plurality of individual accounts payables with the aggregate amount of foreign currency; an area network in communication with the server; and a second customer computer in communication with the area network, positioned remote from the server at a customer site, and positioned to transmit the accounts payable batch data file to the foreign exchange analyzing program product stored on the server.