FINANCIAL ALERT MANAGEMENT SYSTEM

摘要

A financial Alert Management System (“FAMS”) is described that reduces the occurrence of a non-payment event where the a first financial institution (“1st FI) refuses to pay a negotiable instrument generated by a Payor having a Payor account at the 1st FI, where the negotiable instrument has caused a non-sufficient funds (“NSF”) occurrence because the monetary amount of the negotiable instrument exceeds the available funds amount in the Payor account.

主权项

1. A Financial Alert Management System (“FAMS”) for reducing the occurrence of a non-payment event, by a first financial institution (“1st FI), of a negotiable instrument listing a monetary amount, where the negotiable instrument was generated by a Payor having a Payor account at the 1st FI, where the negotiable instrument has caused a non-sufficient funds (“NSF”) occurrence because the monetary amount of the negotiable instrument exceeds an available funds amount in the Payor account, where the 1st FI has produced an NSF list that includes the NSF occurrence as an NSF item within the NSF list, wherein the 1st FI has produced a Payor contact list that includes contact information for the Payor, and where the 1st FI determines an FI predetermined time period for receiving funds to cover the NSF occurrence before the non-payment event occurs where the 1st FI refuses to pay the negotiable instrument, the FAMS comprising:
a first communication module; a database; a timing module; a second communication module; a payment module; and a controller in signal communication with the first communication module, the second communication module, the payment module, the timing module, and the database, wherein the controller is configured to control the operation of the FAMS, wherein the first communication module is configured to receive the NSF list, the Payor contact list, and the FI predetermined time period from the 1st FI, wherein the database is configured to store the NSF items from the NSF list and the contact information for the Payor from the Payor contact list, wherein the timing module is configured to generate a FAMS predetermined time period based on the FI predetermined time period, wherein the second communication module is configured to attempt communication with the Payor based on the contact information for the Payor and, if successful, communicate to the Payor the NSF occurrence, the need to pay at least the amount necessary to cure the NSF occurrence, and the FAMS predetermined time period, wherein the payment module is configured to receive a payment from the Payor, and wherein the first communication module is further configured to send a payment notice to the 1st FI such that the 1st FI does not refuse to pay the negotiable instrument.