Patent Grant
9507667
In some embodiments, the instant invention is related to data analysis and repair as part of data processing.
Typically, records of financial data (e.g., account data, transactional data) need to be verified or be reconciled against other financial data to confirm the correctness of the original financial data.
In some embodiments, the instant invention includes a computer-implemented method that includes at least: specifically programming at least one computer system to perform at least the following: automatically obtaining input financial data from at least one source; automatically determining a first plurality of units of work that the input financial data can be organized into; automatically importing the input financial data into at least one database based, at least in part, on the first plurality of units of work; automatically validating the imported input financial data, where the validating includes at least: identifying, in the imported input financial data, a second plurality of deficient units of work based on a third plurality of predefined rules, where each deficient unit of work is a unit of work having at least one first current data error, analyzing, based at least in part on research information in at least one first research database, the at least one first current data error to determine at least one first current corrective action to remedy the at least one first current data error, where the research information comprises historical information about at least one first previous data error and at least one first previous corrective action that remedied the at least one first previous data error, and verifying that the at least one first current corrective action does not result in at least one of: i) at least one additional deficient unit of work, ii) at least one additional data error, and iii) at least one change in at least one predefined data report; and automatically executing the at least one first current corrective action to remedy the at least one first current data error.
In some embodiments, each unit of work from the first plurality of units of work represents an account or a financial asset.
In some embodiments, the step of the automatically validating the imported input financial data can include segregating each deficient unit of work from the second plurality of deficient units of work into predefined categories.
In some embodiments, the third plurality of predefined rules can include: i) at least one first standard rule that is a required rule, and/or ii) at least one optional rule.
In some embodiments, the third plurality of predefined rules includes rules associated with at least one of: i) position validation, ii) cash balance validation, iii) data element validation, iv) security validation, and v) posting considerations validation.
In some embodiments, the at least one first current data error is personal to a particular unit of work.
In some embodiments, the at least one first current data error is associated with the common among the second plurality of deficient units of work.
In some embodiments, the step of the automatically validating the imported input financial data can further include: withholding from posting each deficient unit of work for which a corrective action has not been determined.
In some embodiments, the step of the automatically validating the imported input financial data can further include: automatically marking each deficient unit of work when posting the imported input financial data so as to visually identify each deficient unit of work.
In some embodiments, the step of the automatically marking can further include: visually identifying each deficient unit of work based at least in part on one of: i) at least one first type of data error, and ii) at least one first pattern of data errors.
In some embodiments, the instant invention includes a computer system that includes at least the following components: a non-transient memory having at least one region for storing computer executable program code; and at least one processor for executing the program code stored in the memory, where the program code includes at least: code to automatically obtain input financial data from at least one source; code to automatically determine a first plurality of units of work that the input financial data can be organized into; code to automatically import the input financial data into at least one database based, at least in part, on the first plurality of units of work; code to automatically validate the imported input financial data, where the code to validate includes at least: code to identify, in the imported input financial data, a second plurality of deficient units of work based on a third plurality of predefined rules, where each deficient unit of work is a unit of work having at least one first current data error; code to analyze, based at least in part on research information in at least one first research database, the at least one first current data error to determine at least one first current corrective action to remedy the at least one first current data error, where the research information comprises historical information about at least one first previous data error and at least one first previous corrective action that remedied the at least one first previous data error; and code to verify that the at least one first current corrective action does not result in at least one of: i) at least one additional deficient unit of work, ii) at least one additional data error, and iii) at least one change in at least one predefined data report; and code to automatically execute the at least one first current corrective action to remedy the at least one first current data error.
The present invention will be further explained with reference to the attached drawings, wherein like structures are referred to by like numerals throughout the several views. The drawings shown are not necessarily to scale, with emphasis instead generally being placed upon illustrating the principles of the present invention. Further, some features may be exaggerated to show details of particular components.
The figures constitute a part of this specification and include illustrative embodiments of the present invention and illustrate various objects and features thereof. In addition, any measurements, specifications and the like shown in the figures are intended to be illustrative, and not restrictive. Therefore, specific structural and functional details disclosed herein are not to be interpreted as limiting, but merely as a representative basis for teaching one skilled in the art to variously employ the present invention.
Among those benefits and improvements that have been disclosed, other objects and advantages of this invention will become apparent from the following description taken in conjunction with the accompanying figures. Detailed embodiments of the present invention are disclosed herein; however, it is to be understood that the disclosed embodiments are merely illustrative of the invention that may be embodied in various forms. In addition, each of the examples given in connection with the various embodiments of the invention which are intended to be illustrative, and not restrictive.
Throughout the specification and claims, the following terms take the meanings explicitly associated herein, unless the context clearly dictates otherwise. The phrases “In some embodiments” and “in some embodiments” as used herein do not necessarily refer to the same embodiment(s), though it may. Furthermore, the phrases “in another embodiment” and “in some other embodiments” as used herein do not necessarily refer to a different embodiment, although it may. Thus, as described below, various embodiments of the invention may be readily combined, without departing from the scope or spirit of the invention.
In addition, as used herein, the term “or” is an inclusive “or” operator, and is equivalent to the term “and/or,” unless the context clearly dictates otherwise. The term “based on” is not exclusive and allows for being based on additional factors not described, unless the context clearly dictates otherwise. In addition, throughout the specification, the meaning of “a,” “an,” and “the” include plural references. The meaning of “in” includes “in” and “on.”
In addition, as used herein, the terms “real time” means without undue delay and to be performed within a single time communication session while particular healthcare constituents transacting with or through at least some embodiments of the computer systems of the instant invention.
In some embodiments, the instant invention provides a complex data analysis and repair tool that analyzes and repairs financial data as part of data processing. In some embodiments, the data processing can be an Extract, Transform and Load (ETL) process that at least involves:
1) Extracting data from outside sources,
2) Transforming it to fit operational needs (which can include quality levels), and
3) Loading it into the end target (database or data warehouse).
In some embodiments, the instant invention uses business logic rules to recognize and repair financial data based on common irregularities found in most financial data providers. In some embodiments, the instant invention reconciles financial transactions in correlation to positions and balances received by data providers. In the event financial data does not reconcile, or has any type of data integrity error, in some embodiments, the instant invention can then verify the data integrity on individual records of data received from financial data vendors. In some embodiments, the instant invention provides a thorough validation of each record received from vendors through a rules based engine. In some embodiments, the instant invention, each record can/will have multiple checks and the results of each validation will be stored for each record. Upon failing a validation, in some embodiments, the instant invention can attempt to perform a data repair based on business logic rules. In some embodiments, the instant invention records that fail the validation and data repair are not be loaded into the client database, instead those records are held in one or more interim database for further reviewed by highly trained individuals before being released to the end user. In some embodiments, records that pass validation are loaded into the client's data warehouse.
In some embodiments, the instant invention is a part of an ETL process that processes financial data, validates repairs and loads data that has been received from various financial data providers:
Step 1: Validate the data
Step 2: Attempt to repair the data
Step 3: Load the data into the data warehouse
Step 4: Any data that failed a validation, hold in an interim database for manual and/or automatic review/repair before being released to end user.
In some embodiments, the instant invention automatically repairs data that does not pass data integrity checks, any undetected exceptions with data integrity and can prepare data for manually review.
In some embodiments, the instant invention provides a flexible, rules-based, automated data scrubbing engine. In some embodiments, the instant invention automatically identifies un-reconciled transactions and missing data elements and applies fixes based at least in part on a configurable set of business logic rules by recognizing patterns by using complex business logic housed in the data scrubbing engine.
In some embodiments, a manual data scrubbing service can be additionally performed. In some embodiments, all failed validations that cannot be automatically corrected with the automated data repair engine can be held from posting to the database until the failure is analyzed.
In some embodiments, the instant invention can be an integral part of the data processing shown in
In some embodiments, the instant invention provides a rules-based data scrubbing engine with aggregation capabilities. In some embodiments, the engine identifies un-reconciled positions, balance conditions, and validates specific elements of the custodial data. In some embodiments, failed validations are held from posting to the firm database until being analyzed.
Examples of Data Validation Rules
In some embodiments, the instant invention can perform at least the following types of validations:
In some embodiments, the instant invention can perform rules and validations on a Unit of Work level, for example, but not limited to, on an account or security. For example, if one position in an account does not balance, the entire account will be automatically held for analysis/investigation/repair. In some embodiments, the instant invention can, in real-time, flag Position or Balance records that are out of balance as well as dynamically mark them accordingly, regarding success or failure, for each validation rule. In some embodiments, the instant invention can then perform a dynamic repair process based on recognized error(s) or error pattern(s) (e.g., a missing price on a Money Market or a particular stock).
In some embodiments, the inventive systems and methods of the instant invention can incorporate at least two sets of rules, optional and standard, which can be used to ensure proper data quality as well as provide a level of customization by the client. For example, the Optional Validation Rules can be enabled or disabled to suit the client's needs and the Standard Validation Rules are required for data validation. Table 1 provides examples of the Optional Validation Rules. Table 2 provides examples of the Standard Validation Rules.
Examples of Functions of Some Embodiments
In some embodiments, the instant invention performs data cleansing by correcting or eliminating inaccurate records from a database. In some embodiments, the instant invention allows to detect so called dirty data (e.g., incorrect, irrelevant or incomplete parts of the data) to either modify or delete it to ensure that a given set of data is accurate and consistent with other sets in the system.
In some embodiments, the instant invention performs historical data cleaning.
For example, the inventive computer system(s)/engine(s) can analyze the received data and perform typical fixes such as, but not limited to:
In some embodiments, when the inventive computer system/engine finds issues with the data, it can hold the records under different validation rule categories until the issues are resolved. In some embodiments, the instant invention provides for dynamic centralized gatekeeping functionality to clean data before the data received from one or more outside sources is imported into a company's internal databases and/or used by internal programs.
1. Operation of a first computer system (e.g., Hyderabad) can include running query to get custodial report,
2. If any missing file or un-posted Transaction or missing multiple transactions, escalate to a second computer system (e.g., Fort Wayne Prod Support team), and
3. Analyzes the un-reconciled positions and accounts to determine if the issue is wide spread or one off. If it is one off issue, Hyderabad analyzes raw file to determine issue.
Examples of some typical issues/errors with data are, but not limited to:
In some embodiments, the instant invention can, in real-time, dynamically analyzes the issue in research database(s) (feedback/learning response mechanism) and develops SQL for fix. In some embodiments, if the fix involves Position/Balance Effective date move, the instant invention can ensure the fix does not introduce new Position/Balance reconciliation issue and the fix does not break any performance report. In some embodiments, affected records and SQL fixes in research database are backed up. In some embodiments, the instant invention can have an audit log to verify that number of changes in research database(s) and backup tables should match. In some embodiments, the instant invention can validate SQL fixes to make sure that they do not introduce additional errors/imbalances in the data. For example, the instant invention can validate SQL fixes that involve Transaction Effective date move/Transaction Code changes. In some embodiments, the instant invention can implement fixes on an account level, a plurality of related accounts, or a plurality of unrelated accounts that may have a related data issue. For example, the instant invention can fix an incorrect price of stock over a plurality of accounts that belong to different custodians (e.g., brokers, banks) and/or different account owners.
Examples of Reconciliation Issues
Terminology:
In some embodiments, a Position means a Snapshot of shares in time, per Account/Security/Position Type.
In some embodiments, the term Transaction(s) means details that make up Positions/Balances, Price and amount of money used to purchase shares.
In some embodiments, the term Reconcile means a total number of Transaction shares sum up to the Position Quantity/Balance Amount as of that date.
In some embodiments, the instant invention can identify and flag position records that do not balance when validated against transactions. In some embodiments, once the records are flagged, the instant invention can, in real-time, dynamically research; investigate the failed validations to determine an individual or global solution to be applied.
Below is an example of query to get all the unreconciled positions for a particular custodian:
Cash Balance Reconciliation
In some embodiments, the instant invention reconcile cash balances by analyzing all the transaction codes received from data providers to determine which transaction codes affect the cash balance. In some embodiments, the instant invention can review and/or provide a list of transaction actions (tblListTransaction_Action) and flagging each action that affects balance with an attribute of “Balance”. Each transaction code can be flagged with an appropriate transaction action, allowing the invention to know which transactions should be used in the following calculation:
(Previous Cash Balance)+(Sum of Net Amounts for transactions which affect balance and occurred during the previous balance and the current balance)=(Current Cash Balance)
In some embodiments, the instant invention can reconcile the cash by taking a balance window including the previous cash balance and compare to the current cash balance. By using the dates on the balance window, some embodiments can sum up the net amounts on all the transaction that occurred in that window and have been identified to effect cash balances. Then add those transactions to the first balance in the window and the result will be the amount of the current cash balance.
When a failed reconcile occurs, in some embodiments, the instant invention can hold back all the data from a particular account that failed to reconcile on that particular day, and can continue to hold the account until a resolution is found. In some embodiments, the instant invention can follow the data scrubbing workflows (
Exemplary Common Reconciliation Issues
1) ‘Effective Date’ Change for Position/Balance
a. Balances
If the balance issues can be fixed by moving the balance date forward or backward then update the effective date to fix un-reconciled balance (ensure that the fix does not cause issue with other balance.)
b. Positions
If the position issues can be fixed by moving the position effective date forward or backward then update the effective date to fix un-reconciled position (ensure that the fix does not cause issue with other Positions.)
2) Modifying Balance (Based on Transaction Cancellation Correction)
Recalculating the balances in case of issues related to cancel/correct transactions
3) Deleting Zero Positions (Zero End Pos Quantity)
For example, un-reconciled zero positions can be deleted.
4) Inserting New Initial Transactions
If Un-reconciled positions are determined to be the first Position, the invention can insert an initial transaction.
5) Modifying ‘Action Code’ for ‘Transaction Codes’
It can provide a supervisory review.
6) Ignoring/Deleting Transactions
Delete the duplicate transactions or map the duplicate transaction Action code to ‘ignore’.
7) CUSIP/Symbol Change
All Cusip/symbol change issues can result in a remedy ticket and once the solution is approved, the changes are implemented.
8) Invalid Position Type
For Invalid position type issues can result in a remedy ticket and once the solution is approved, the changes are implemented.
6.5. Mass Fixes
6.5.1. Mass Cleanup and Bulk Modifications
When a particular issue is determined to be impacting the data at large scale across accounts and/or custodians, queries are built and applied to automatically identify and fix the data.
In some embodiments, the instant invention can ensure that:
1. Only the data/fields intended for the change are modified
2. System performance is not affected
3. The Guidelines for TSQL queries as listed below to be followed.
Examples of Validation Rule Engine
In some embodiments, the instant invention can provide capabilities of running certain validation rules to segregate data problems into various predefined categories. Some fixes can be automatically put into the data. In some embodiments, the instant invention can provide capabilities to alertiflag that identify certain issues and generate output that identifies them.
Examples of Validation Rules
1) Position Validation
2) Cash Balance Validation
When a failed reconcile occurs, in some embodiments, the instant invention can hold back all the data from the account that failed to reconcile on that particular day, and can continue to hold the account until a resolution is found. In some embodiments, the instant invention can follow the data scrubbing workflows (
3) Data Element Validation
In some embodiments, the instant invention can validate data elements based upon business rules established by a Client. For example, the inventive engine can validate and attempt to repair any data that can be programmatically repaired. If a record failed a validation and cannot be repaired, the record will be held back for further investigation. All failed validations can be identified and logged for auditing. In some embodiments, the instant invention can provide a functionalities to dynamically examine the data feed rules to see if the issue can be fixed globally in the data feed. If the issue is isolated and a one-off, the instant invention can request or communicate with computer systems of the Clearing Firm or Custodian for a statement to reconcile the account. Once the record is repaired and re-validated, the data will be delivered to the Client via the IDM.
In some embodiments, Data Element Validations can consist of the following:
In some embodiments, the instant invention can offer an ability to customize validation rules to business requirements. In some embodiments, the customized rules can be Custodian or Security type based wherever needed.
Security Master Validation (CUSIP and Symbol Validation)
In some embodiments, the instant invention can validate for correct CUSIPS and symbols. If the symbol is the same as the CUSIP, records can be held back from being released the symbol or CUSIP is corrected by contacting the Custodian, Clearing Firm, or use available resources. In some embodiments, the instant invention can identify securities that are missing the symbol or CUSIP, and flagged those for further checking the symbol or CUSIP.
Posting Considerations Validation
In some embodiments, the instant invention can handle rules based validations related to the posting of data to an external database/computer system. In some embodiments, the inventive computer systems and methods of the instant invention can utilize validations to prevent the loading of incorrect custodial data. In some embodiments, the inventive computer systems and methods of the instant invention, depending upon the data type of external source data and/or at user's discretion, process a particular data type through the cleansing engine but not hold the data from posting to the Data Warehouse and in turn the IDM. For example, the above procedure can be useful if a particular field is required for posting while other fields are held back from posting until such time as data anomalies identified by the scrubbing engine(s) (identified as “Stingray”, “Tigershark” in Figures) have been corrected.
Error Log
In some embodiments, the instant invention can provide an error log to validate data quality. In one example, the error log can consist of the account/security that failed the validation as well as the validation that failed. In another example, the log can consist of records that are currently in a fail state; once the record is repaired and revalidated the record will be removed from the error log table.
Remedy
In some embodiments, the instant invention can provide a remedy system for tracking purposes.
Issue Logging System
Each data raise is logged in the Remedy/Tracking system.
Exemplary Guidelines for Writing TSOL Queries
1. Do not leave queries running unattended.
2. Do not leave them running for more than 10 minutes unless authorized (full run of spReconcile_Positions_Calc is authorized to be run once a week on any firm, no more)
3. Do NOT restart a script that has been forcibly killed (severe error occurred/query window has been disconnected/etc.) until the script has been reviewed.
4. If you have done a BEGIN TRANSACTION, you need to make sure that you have Committed or ROLLBACK the transaction.
Note; it is possible to have more than one level of transaction open. If this is the case, you need to make sure that you have committed as many times as you began the transactions. If SELECT @@TRANCOUNT returns anything other than 0, then you still have a transaction open.
Exemplary SOL Mass cleanup queries Review process
A following list needs to be reviewed before being run:
1. OUTER/CROSS APPLY
2. WHILE/CURSOR loops (batch processing is fine if you're doing 100's to 1000's of records at a time, one at a time loops are avoided)
3. Subs-elects containing a view/more than 3 levels of sub-selects
4. Temp tables with over 1 million rows
Examples of Modifying Fields
1. Transaction Effective Dates should be changed only after a confirmation or if it is a known issue.
2. Action Codes for Tran Codes should not be modified and a remedy should be raised when needed.
3. Position Effective Date can be automatically modified within a certain predetermine range of days.
Testing
Reconciliation Check
In some embodiments, the instant invention can ensure that the fix applied corrects the issue in totality and does not give a partial solution. In some embodiments, the check can be done in two ways based on where the fix is applied
Impact on Reports
In some embodiments, the instant invention can provide reports regarding, but not limited to, errors identified and/or fixes. In some embodiments, the instant invention can, in real-time, dynamically check for the accuracy of the fix with some scripts to see if they have a positive/negative impact on the reports. In some embodiments, it is not necessary that a fix that breaks a report is always a bad fix because it could be a change that might have to be incorporated in the reports.
Table 3 shows examples of database objects that can be utilized in some embodiments of the instant invention.
Table 4 shows examples of validation engine objects that can be utilized in some embodiments of the instant invention.
In some embodiments, the inventive systems and methods of the instant invention can be utilized in conjunction with processes and/or data formats described in U.S. Pat. No. 7,653,564; U.S. Pat. No. 7,689,489; U.S. Patent Pub. No. 20080040610; U.S. Patent Pub. No. 20090006267; whose specific disclosures of data processing and/or data formats are hereby incorporated herein by reference for all purposes associated with such data processing and/or data formats.
Illustrative Operating Environments of Some Embodiments of the Instant Invention.
In some embodiments, client devices 502-504 include virtually any computing device capable of receiving and sending a message over a network, such as network 505, to and from another computing device, such as servers 506 and 507, each other, and the like. In embodiments, the set of such devices includes devices that typically connect using a wired communications medium such as personal computers, multiprocessor systems, microprocessor-based or programmable consumer electronics, network PCs, and the like. In embodiments, the set of such devices also includes devices that typically connect using a wireless communications medium such as cell phones, smart phones, pagers, walkie talkies, radio frequency (RF) devices, infrared (IR) devices, CBs, integrated devices combining one or more of the preceding devices, or virtually any mobile device, and the like. Similarly, in some embodiments, client devices 502-504 are any mobile device that is capable of connecting using a wired or wireless communication medium such as a PDA, POCKET PC, wearable electronic device (such as cellular phone, smart phone, or other equivalent mobile devices), and any other device that is equipped to communicate over a wired and/or wireless communication medium.
In some embodiments, each client device within client devices 502-504 includes a browser application that is configured to receive and to send web pages, and the like. In embodiments, the browser application is configured to receive and display graphics, text, multimedia, and the like, employing virtually any web based language, including, but not limited to Standard Generalized Markup Language (SMGL), such as HyperText Markup Language (HTML), a wireless application protocol (WAP), a Handheld Device Markup Language (HDML), such as Wireless Markup Language (WML), WMLScript. JavaScript, and the like. In embodiments, computer systems of the instant invention is programmed in either Java or .Net.
In embodiments, client devices 502-504 are further configured to receive a message from the another computing device employing another mechanism, including, but not limited to email, Short Message Service (SMS), Multimedia Message Service (MMS), instant messaging (IM), internet relay chat (IRC), mlRC, Jabber, and the like.
In embodiments, network 505 is configured to couple one computing device to another computing device to enable them to communicate. In embodiments, network 105 is enabled to employ any form of computer readable media for communicating information from one electronic device to another. Also, in embodiments, network 505 includes a wireless interface, and/or a wired interface, such as the Internet, in addition to local area networks (LANs), wide area networks (WANs), direct connections, such as through a universal serial bus (USB) port, other forms of computer-readable media, or any combination thereof. In embodiments, on an interconnected set of LANs, including those based on differing architectures and protocols, a router acts as a link between LANs, enabling messages to be sent from one to another.
Also, in some embodiments, communication links within LANs typically include twisted wire pair or coaxial cable, while communication links between networks may utilize analog telephone lines, full or fractional dedicated digital lines including T1, T2, T3, and T4, Integrated Services Digital Networks (ISDNs), Digital Subscriber Lines (DSLs), wireless links including satellite links, or other communications links known to those skilled in the art. Furthermore, in embodiments, remote computers and other related electronic devices could be remotely connected to either LANs or WANs via a modem and temporary telephone link. In essence, in embodiments, network 505 includes any communication method by which information may travel between client devices 502-504, and servers 506 and 507.
In some embodiments, clients can query databases utilizing SQL (Structured Query Language) or Transact-SQL (T-SQL), programming languages designed for managing data in database management systems. In some embodiments, T-SQL can include procedural programming, local variables, various support functions for string processing, date processing, mathematics, etc. and changes to the DELETE and UPDATE statements.
Client devices 602a-n also comprise a number of external or internal devices such as a mouse, a CD-ROM, DVD, a keyboard, a display, or other input or output devices. Examples of client devices 602a-n are personal computers, digital assistants, personal digital assistants, cellular phones, mobile phones, smart phones, pagers, digital tablets, laptop computers, Internet appliances, and other processor-based devices. In general, a client device 602a are any type of processor-based platform that is connected to a network 206 and that interacts with one or more application programs. Client devices 602a-n operate on any operating system capable of supporting a browser or browser-enabled application, such as Microsoft™, Windows™, or Linux. The client devices 202a-n shown include, for example, personal computers executing a browser application program such as Microsoft Corporation's Internet Explorer™, Apple Computer, Inc.'s Safari™, Mozilla Firefox, Google Chrome, and/or Opera.
Through the client devices 602a-n participants 612a-n communicate over the network 606 with the system. As shown in
For the purposes of this disclosure, a computer readable medium is a medium that stores computer data/instructions in machine readable form. By way of example, and not limitation, a computer readable medium can comprise computer storage media as well as communication media, methods or signals. Computer storage media includes volatile and non-volatile, removable and non-removable media implemented in any method or technology for storage of information such as computer-readable instructions, data structures, program modules or other data. Computer storage media includes, but is not limited to, RAM, ROM, EPROM, EEPROM, flash memory or other solid state memory technology: CD-ROM, DVD, or other optical storage; cassettes, tape, disk, or other magnetic storage devices; or any other medium which can be used to tangibly store the desired information and which can be accessed by the computer.
Further, the present invention may, of course, be implemented using any appropriate computer readable medium, computer system(s), computer hardware and/or computer software. In this regard, those of ordinary skill in the art are well versed in the type of computer hardware that may be used (e.g., a mainframe, a mini-computer, a personal computer (“PC”), a network (e.g., an intranet and/or the Internet)), the type of computer programming techniques that may be used (e.g., object oriented programming), and the type of computer programming languages that may be used (e.g., C++, Basic). The aforementioned examples are, of course, illustrative and not restrictive.
In some embodiments, the instant invention includes a computer-implemented method that includes at least: specifically programming at least one computer system to perform at least the following: automatically obtaining input financial data from at least one source; automatically determining a first plurality of units of work that the input financial data can be organized into; automatically importing the input financial data into at least one database based, at least in part, on the first plurality of units of work; automatically validating the imported input financial data, where the validating includes at least: identifying, in the imported input financial data, a second plurality of deficient units of work based on a third plurality of predefined rules, where each deficient unit of work is a unit of work having at least one first current data error, analyzing, based at least in part on research information in at least one first research database, the at least one first current data error to determine at least one first current corrective action to remedy the at least one first current data error, where the research information comprises historical information about at least one first previous data error and at least one first previous corrective action that remedied the at least one first previous data error, and verifying that the at least one first current corrective action does not result in at least one of: i) at least one additional deficient unit of work, ii) at least one additional data error, and iii) at least one change in at least one predefined data report; and automatically executing the at least one first current corrective action to remedy the at least one first current data error.
In some embodiments, each unit of work from the first plurality of units of work represents an account or a financial asset.
In some embodiments, the step of the automatically validating the imported input financial data can include segregating each deficient unit of work from the second plurality of deficient units of work into predefined categories.
In some embodiments, the third plurality of predefined rules can include: i) at least one first standard rule that is a required rule, and/or ii) at least one optional rule.
In some embodiments, the third plurality of predefined rules includes rules associated with at least one of: i) position validation, ii) cash balance validation, iii) data element validation, iv) security validation, and v) posting considerations validation.
In some embodiments, the at least one first current data error is personal to a particular unit of work.
In some embodiments, the at least one first current data error is associated with the common among the second plurality of deficient units of work.
In some embodiments, the step of the automatically validating the imported input financial data can further include: withholding from posting each deficient unit of work for which a corrective action has not been determined.
In some embodiments, the step of the automatically validating the imported input financial data can further include: automatically marking each deficient unit of work when posting the imported input financial data so as to visually identify each deficient unit of work.
In some embodiments, the step of the automatically marking can further include: visually identifying each deficient unit of work based at least in part on one of: i) at least one first type of data error, and ii) at least one first pattern of data errors.
In some embodiments, the instant invention includes a computer system that includes at least the following components: a non-transient memory having at least one region for storing computer executable program code; and at least one processor for executing the program code stored in the memory, where the program code includes at least: code to automatically obtain input financial data from at least one source; code to automatically determine a first plurality of units of work that the input financial data can be organized into; code to automatically import the input financial data into at least one database based, at least in part, on the first plurality of units of work; code to automatically validate the imported input financial data, where the code to validate includes at least: code to identify, in the imported input financial data, a second plurality of deficient units of work based on a third plurality of predefined rules, where each deficient unit of work is a unit of work having at least one first current data error; code to analyze, based at least in part on research information in at least one first research database, the at least one first current data error to determine at least one first current corrective action to remedy the at least one first current data error, where the research information comprises historical information about at least one first previous data error and at least one first previous corrective action that remedied the at least one first previous data error; and code to verify that the at least one first current corrective action does not result in at least one of: i) at least one additional deficient unit of work, ii) at least one additional data error, and iii) at least one change in at least one predefined data report; and code to automatically execute the at least one first current corrective action to remedy the at least one first current data error.
While a number of embodiments of the present invention have been described, it is understood that these embodiments are illustrative only, and not restrictive, and that many modifications may become apparent to those of ordinary skill in the art. Further, any steps described herein may be carried out in any desired order (and any steps may be added and/or deleted).
This application claims the priority of U.S. provisional application U.S. Patent Appln. No. 61/622,976; filed Apr. 11, 2012; entitled “COMPUTER METHODS AND COMPUTER SYSTEMS FOR AUTOMATIC DATA ANALYSIS, RECONCILIATION AND REPAIR,” which is hereby incorporated herein by reference in its entirety for all purposes.
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| Number | Date | Country | |
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| Number | Date | Country | |
|---|---|---|---|
| Parent | 13861258 | Apr 2013 | US |
| Child | 14044511 | US |
