U.S. Bancorp has been granted a patent for a method enabling remote check deposits via mobile devices. The process involves capturing a check image, performing optical character recognition (OCR) to verify required data, and facilitating user confirmation before submitting the check for deposit to a financial institution. GlobalData’s report on U.S. Bancorp gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on U.S. Bancorp, Virtual banking assistant was a key innovation area identified from patents. U.S. Bancorp's grant share as of June 2024 was 89%. Grant share is based on the ratio of number of grants to total number of patents.
Remote check deposit using mobile device ocr technology
The patent US12039504B1 outlines a method for the remote deposit of checks using a mobile device. The process begins with the capture of a check image via the device's camera, triggered by user action. Notably, the method incorporates optical character recognition (OCR) to analyze the check image without displaying it to the user. If the OCR data generated lacks essential information—such as the check amount and MICR line data (account number, routing number, and check number)—the system creates a check representation image that highlights the missing data. This representation is then presented to the user, who can take corrective action by capturing a new check image. The method ensures that the original check image is discarded after this step, and the new image undergoes a second OCR process. If the new data meets the required criteria, it is sent to a financial institution for validation.
Further claims in the patent detail additional features of the method, including user input modifications to the OCR data, fraud detection processes, and the presentation of check images. The system allows for the selection of templates for the check representation image, which can preserve stylistic elements from the original check without directly importing them. The method also includes mechanisms for ensuring user confirmation before processing the check for remote deposit, as well as checks for similarity between new and prior OCR data to prevent duplication. Overall, the patent describes a comprehensive approach to enhancing the remote check deposit process, focusing on user interaction, data validation, and security measures.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
