Patent attributes
A system and method for MICR-based duplicate detection and management identifies duplicate presented items on day one across a plurality of payment channels, prior to posting, preventing them from impacting financial institution customers by rerouting to an adjustments team. Inquiry files containing MICR data for a plurality of presented items are evaluated by a duplicate detection module. Each item presented is evaluated against all previous items based on its MICR line. Unique items are processed in the usual manner. Duplicate suspects undergo further processing. Suspects having identical MICR data, but that are not duplicates, such as NSF (non-sufficient funds) checks being re-deposited, are identified and posted. The remaining suspects go in the suspect queue of a universal workstation. After being researched, suspects found not to be duplicates are posted. The remaining suspects are flagged as duplicates and routed to an adjustor for further action.
