Importance

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Abstract

A financial data processing system utilizing two levels of distributed processors interconnected to one another and a central processor interconnected to the first level of distributed processors and the method of operating the system, particularly with respect to the entry of data by way of the second level of distributed processors, are disclosed. The financial data being processed includes loan information representing the balance of each loan outstanding, the interest rate payable on each loan, the principal and interest due and payable for each periodic loan payment, the identity of each debtor, the delinquency, if any, on each loan, the collection histories of respective loans and financial information relating to leases and leased property. In one embodiment, the system provides for the high speed entry of data utilizing optical character readers which are utilized to scan customer statements containing pre-printed financial data in a format and type recognizable by the optical character reader. The system provides for plural terminals at both the first and second levels of distributed processors, including data entry devices such as keyboards and/or optical character readers, video display devices, such as cathode-ray tube display screens and memory storage devices such as floppy disk and hard disk drives.

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First Claim