SYSTEM AND METHOD FOR UPDATING PASSBOOKS

Field of Invention

The invention relates to updating passbooks or more specifically, the invention relates to a system and method for updating passbooks or bankbooks more efficiently.

Background of the Invention

For many financial institutions especially retail banks, updating passbooks at teller positions are typically "high-cost-low-value" transactions. Therefore, moving away these passbook update transactions from the teller positions to self service passbook update terminals, which allows the customers to update their passbooks on their own, is one of the key aspects to reduce the transaction costs .

In the prior art, one common method to implement a system to allow a customer of a bank to self-update its passbook is by:

1) Sticking a magnetic stripe on the outer back skin of the passbook for storing the passbook identification number. The passbook is then associated with an account. Or, in other embodiments, the account identification number is used directly.

2) Inserting the passbook to a passbook printer, which is connected with the bank's host computer, wherein the passbook printer is equipped with two separate reading/scanning devices. One reader for reading the passbook/account identification number stored in the magnetic stripe on the outer back skin of the passbook. The other scanner for scanning the passbook page for finding the next available print lines, for printing the updating information received from the host computer.

Updating the passbook using the conventional method described above requires the passbook to be first prepared with a medium such as a magnetic stripe or a barcode label or other media for storing or the, passbook/account identification informatixofli, whic-h definitely increases the cost of the passbook a>ndi it,§: processing.

Additionally, placing or sticking the magnetic stripe or barcode label on the outer skin of the passbook increases the exposure of the the stripe or the label to the external factors such as physical scratch, heat, light, etc.. This can make the life of the stripe or the label shorter, which in turn causes the passbook to be replaced more often and also causes the inconvenience to the customer .

Furthermore, the passbook printer requires two reading devices for independently (1) reading the passbook/account identification number placed on the outer skin of the passbook and (2) scanning the printed lines in the passbook page for finding the next available print lines. This results in the increased cost of the passbook printer itself.

It is therefore be usefull to provide a method for providing a passbook update transaction system, which can reduce the costs of operation and handling as well as the costs of the equipments such as the passbook, the passbook printer, etc., which will be disclosed herein after.

Summary of the Invention

According to the present invention, a system and method for providing a passbook update transaction facility is presented, wherein in a preferred embodiment, the system comprising: a passbook prepared with the passbook identification number placed or printed on the inner part preferably on each print page of the passbook, wherein the passbook is associated with an account; and a passbook printer, which is connected with a host computer bearing the updating information associated with the account, wherein the passbook printer is configured with a scanner for scanning the passbook page for (1) aquiring the passbook identification number printed therein, which is to be then sent to the host computer for verification purposes and also for (2) finding the next available ¹ XϊjisXs-!) wά.thin the page for printing the updating inforirtaJSCQn receiføeW from the host computer.

It is an objective of the present invention to provide a system and method for updating passbooks using lower cost passbooks .

It is another objective of the present invention to provide a system and method for updating passbooks using lower cost passbook printers .

It is an ultimate objective of the present invention to significantly reduce the costs of operation and handling as well as the costs of the equipments for updating passbooks .

The invetion is applicable in self-service and/or attended service environments.

Brief Description of the Figures

FIGURE 1 is a flow chart showing a general method for updating passbooks according to the prior art.

FIGURE 2A is a picture showing a magnetic stripe attached to the outer back skin of a passbook according to the prior art.

FIGURE 2B is another picture showing a barcode label attached to the outer back skin of a passbook according to the prior art.

FIGURE 2C is a picture showing a typical print page of a passbook according to the prior art.

FIGURE 3 is a flow chart showing a method for updating passbooks according to a preferred embodiment of the present invention.

FIGURE 4 is a picture showing an examplary print page of a passbook having the passbook number printed thereon according to the preferred embodiment of the present invention.

FIGURE 5 is a simplified functional diagram showing a system for updating passbooks according to the preferred embodiment of the present invention. Detailed Description of the Invention

To hightlight the advancements of the -afnv _^ ention phe prior art is described in section I and .th"e present invention is in section II.

I. Description of the prior art. The traditional method for updating passbooks in a self service environment according to the prior art is described hereunder, with reference to FIGURES 1, 2A, 2B and 2C.

FIGURE 1 is a simplified flow chart illustrating a method according to the prior art, which is generally and traditionally used for updating a passbook.

There are basically 2 phases, which are the preparation phase and the transaction phase. Step 110 and step 120 are the preparation steps, and step 130 through step 170 are the transaction steps, which is repetitive.

At step 110, an account identification number or a passbook identification number is placed on the outer back cover/skin of a passbook 200 in FIGURE 2A. A medium for storing the account/passbook identification number such as a magnetic stripe 210 must be firstly attached, typically, on the outer back cover of the passbook 200 during the manufacture of the passbook 200. In another embodiment, a barcode label 220 of FIGURE 2B, which is also placed on the outer back cover of the passbook 200, is used for storing the account/passbook identification number.

At step 120, in the case of the passbook identification number being used, the passbook 200 must be firstly associated with an account by linking/relating the passbook identification number with the account before the passbook 200 is ready for use. This step is normally done at the customer resevice desk in the bank branch office.

At step 130, a passbook update transaction is initiated by inserting the passbook 200 into a passbook printer, which is connected with a host computer bearing information associated with the account.

At step 140, the passbook printer reads the account/passbook identification number from either the magnetic stripe 210 or the barcode label 220 on the outer back cover of the inserted passbook 200. During this step, the passbook printer also scans the current. p,age to £α>nei the page number 230 in FIGURE 2C and the nex-fe _n ^a-y-a-i^l'ab.ie print line(s) 240 in FIGURE 2C. Notice that the pa-s's'book printer requires 2 separate reading devices, one for reading the account/passbook identification number 210/220 placed at outer back cover of the passbook 200 and the other for reading/scanning the page to find the page number 230 and also scanning the printed lines to find the next available print line 240 within the page of the passbook 200.

At step 150, the acquired account/passbook identification number is then sent over a communication line to the host computer for a verfication. In some embodiments, the current page number and/or the next available print line number are also sent along to the host computer for security purposes.

At step 160, having done the verification, the host computer sends an authorization message containing the updating information to be printed to the passbook 200.

At step 170, the received updating information is then printed on the designated location of the passbook page, which starts from the next available print line, by the passbook printer and the passbook 200 is finally ejected by the passbook printer, which completes the transaction.

II. Description of the present invention. The present invention is described herein after through a preferred embodiment, with reference to FIGURES 3, 4 and 5. A detail drawing for the passbook printer 530 in FIGURE 5 is not presented as it is well known and well understood by those skilled in the art.

FIGURE 3 is a simplified flow chart ilustrating a method of the present invention according to a preferred embodiment .

There are basically 2 phases, which are the preparation phase and the transaction phase. Step 310 and step 320 are the preparation steps, and step 330 through step 370 are the transaction steps, which is repetitive.

Initially, at step 310, a passbook 400 in FIGURE 4 is prepared with the passbook indentifier or the passbook identification information or practically OTe ^" 'pa"ss-boo-k- number 410 appeared or placed on the inneϊs p.a-rt of fcti^ passbook 400. The passbook identifier can be pla'ce'd any wahere inside the passbook including, but not limited to, in the first page, in one of the pages, or in the inner skin of the passbook. In this embodiment, the passbook number 410 is printed at a particular location in each print page of the passbook 400. Basically, the passbbok identifier can be placed any where inside the page. For convenience and practicality reasons, it is advisable that the placing/printing of the passbook number 410 on each print page is done during the production of the passbook 400.

In this embodiment, the passbook identifier can be represented with one or more optically recoqnizeable symbols such as an alpha-numeric character or a barcode or other symbols. Various optical image processing techniques can be applied accordingly.

Notice that, in this embodiment, there is no need to have a magnetic stripe or a barcode label placed on the outer back cover of the passbook for holding the passbook identifier. Adding a magnetic stripe or a barcode label to a passbook will definitely increase the cost of the passbook. And also, placing the stripe or the label on the outer cover of a passbook increases the exposure of the stripe or the label against external factors such as physical contact/scratch, heat, light, etc., which can shorten the life of the stripe or the label, which causes the passbook to be replaced more often and also causes the inconvenience to the customer.

In another embodiment, for the passbook identification purposes, a passbook identifier can be based on remote sensing technologies such as an RFID (radio frequency identification) or other remote sensing techniques. An RFID chip or sticker can be easily placed basically anywhere inside a passbook. Then, by integrating an RFID reader into a passbook printer, an efficient and convenient passbook update transaction system can be presented. It is important that the passbook ideritά£i,er. _™ ..i,s_pl,as ^" e'd inside the passbook, which is more prote.e&'ed from [the external damaging factors such as physical con ^v ta;ct"/>s"eratch, heat, light, etc.

At step 320, the passbook 400 is associated with an account and the passbook 400 is ready to be used for printing the updating information or other information associated with the account. An application 540 in FIGURE 5, which can be a simple PC based application for associating the passbook 400 with the account in a host computer 510 is required. This step is normally done at the customer service desk in the bank branch office. Most teller/branch systems today have the functionality for associating a passbook with an account, which can be utilized for this purpose. In some embodiments, this step in not relavant, as the passbook identification number has already been assigned to an account before the passbook is actually produced.

In other embodiments, the passbook 400 can be used for printing the information associated with more than one account, or information associated with the passbook 400 or associated with the customer, or information designated to the customer, or other general information.

At step 330, a passbook update transaction is initiated by inserting the passbook 400 into the passbook printer 530, which is connected with a server or a host computer 510 bearing the information or at least the updating information associated with the account or the passbook 400 or the customer. The updating information is the information that is to be printed or updated in the passbook.

In this embodiment, a controller 520, preferably a PC based controller, which is housed separately from the passbook printer 530, is used. The controller 520 can hold applications for updating passbook, interfacing with the host computer 510, and other functions such as event logs, etc. One of the advantages of having a separate controller is that more than one passbook printer can be installed and g controlled either locally or remotely bψ ©ne COntTO;ϊ"Fe' ^l r , which is more economical.

In other embodiments, the controller 5''2-'O can be integrated with the passbook printer 530. This can be advantageus in particular deployments when the space is limited or it can be for other purposes.

Additionally, a concentrator (not shown in the FIGURE 5) can be placed between the controller 520 and the host computer 510 to prevent the host computer 510 from dealing directly with too many passbook printers 530.

At step 340, if the passbook printer 530 is equipped with an automatic page turning device, it will then turn the passbook pages either forward or backward to find the designated page. The passbook printer 530 will then scan the page or at least a portion of the page to acquire the passbook number 410 and also to find the next available print line 430 for printing the updating information. There can be one or more next available print line 430. The passbook page number 420 can also be identified. The aquisition of the passbook number 410, the finding of the next available print line 430 and the identification of the page number 420 can be done with a single scanning operation .

At step 350, the acquired passbook number 410 is further sent over a communication line to the host computer 510 for a verfication. In some embodiments, the page number 420 and/or the next available print line number are also sent along to the host computer 510 for security purposes or other purposes.

At step 360, having done the verification, the host computer 510 sends an authorization message containing updating information or other information to be printed to the passbook printer 530. The authorization message and updating information can be sent separately depending on the various conditions and requirements.

At step 370, the received updating information is then printed on the designated location, which starts from the next available print line 430 of the designated page of the passbook 400, by the passbook printer 530 and the passbook 400 is finally ejected by the paasbook prjbrvfcer 530, which completes the transaction.

The embodiment described above and/of" i"n other embodiments are applicable for updating passbooks in a self service environment and/or in an attended service environment .

It is known that some countries currently use standarized passbooks, wherein the passbook size are identical or very similar from bank to bank, whereas in some other countries, the passbook size varies from bank to bank and even within one bank, there are several different sizes of passbooks for different products. So, it is important that the passbook printer can handle and process multiple size of passbooks.

Furthermore, as described above, the present invention is expected to generate a significant cost reduction in updating passbooks, however, further cost reduction can be generated when the passbook printer is shared among a number of banks, especially at low traffic locations. And also, by sharing, there can be a multiple number of printers installed at one location, which can increase the service availability for the member banks .

The present invention may be embodied in other forms without departing from its spirit and scope. The embodiments described above are therefore illustrative and not restrictive, since the scope of the invention is determined by the appended claims rather then by the foregoing description, and all changes that fall within the meaning and range of equivalency of the claims are to be embraced within their scope. And, through out this document including in each claim, whenever appicable, a singular form covers also the plural form and vice versa.