Financial data processing system and method

What is claimed is:

1. A financial data processing system comprising:

central processing means, including a data bank into which data is written and from which data is read, said data including financial credit transaction information representing the balance outstanding for each credit transaction, the finance charge payable for each credit transaction, the amount due and payable for each periodic payment on said credit transaction, the identity of each obligor of said credit transaction, and the deliquency of payment, if any, on each credit transaction, said central processing means having means for computing from said data each credit transaction outstanding, payment delinquencies of each credit transaction outstanding, collection history of each credit transaction, and unpaid principal balance of a credit transaction;

plural terminal means coupled to said central processing means, each terminal means being operable by an operator to write into said data bank updated financial credit transaction information;

first means at said terminal means for writing into said data bank during a single operation a batch of credit payment data representing payment amounts and the identities of respective obligors for a batch of credit transaction payments;

second means at saisd terminal means for writing into said data bank credit transaction application data representing the identity of each applicant, the amount, type and duration of the requested credit transaction, the finance charge payable on the requested credit transaction, and data representing the applicant,s ability to repay the requested credit transaction and in the event that the requested credit transaction is not completed, said application data for that requested credit transaction being retained in said data bank for at least a predetermined period of time thereafter;

plural display means coupled to said central processing means, each display means being operable to display data stored in said data bank; and

means for retrieving from said data bank and supplying to said display means payment data and credit transaction application data currently or previously written into said data bank by said operator, and summary data derived from said data bank and representing summaries of plural credit transactions outstanding, payment deliquencies of said plural credit transactions outstandiing, collection histories, and loss of amounts resulting from credit transations which are not properly repaid.

2. The system of claim 1 wherein at least some of said terminal and display means are located in offices remote from said central processing means; and further including data communication means for interconnecting said offices with said central processing means to enable data to flow therebetween.

3. The system of claim 2 wherein groups of said offices comprise respective regions; and wherein data that is written into said central processing means from a first office in a region is accessible to a second office in said region.

4. The system of claim 3 wherein said central processing means includes access identifying means for identifying predetermined access codes entered from the terminal means in offices located in said region to read out to the office from which an identified predetermined access code is entered data stored in said data bank and to write data into said data bank from that office.

5. The system of claim 1 wherein said central processing means comprises a plurality of distributed processors, each coupled to a respective group of terminal means and display means, each distributed processor including a data bank for storing credit transaction information of those credit transactions processed by the terminal means coupled thereto.

6. The system of claim 5 wherein said central processing means further comprises a host computer operable to communicate with each distributed processor and including a data bank for storing back-up credit transaction information for all of said distributed processors; and means for transmitting to said host computer updated credit transaction information that had been written into the data bank of a distributed processor.

7. The system of claim 6 further comprising at least one terminal and display means connected to said host computer; and means for coupling the last-mentioned terminal and display means to a distributed processor selected by an operator of said last-mentioned terminal and display means for reading credit transaction information from and writing credit transaction information into the data bank of said selected distributed processor.

8. The system of claim 1 wherein said central processing means is programmed to cause said display means to display a menu of selectable financial data processing trnasactions, including credit trnasaction applications, credit transaction payments, deliquencies of credit transactions outstanding, and obligor information; and said central processing means is further programmed to respond to the selection at a terminal means of one of the displayed financial data processing transactions to cause said display means to display a sub-menu of informational catetgories, each being selectable to provide predetermined details of the selected informational category.

9. The system of claim 8 wherein said central processing means is responsive to the selection at said terminal means of a "batch of credit payment" informational category to cause said display means to display a format by which plural credit transaction payments are entered for writing into said data bank and to enable said terminal means to be operated for indicating the identity of a credit transaction and the amount of payment credited to that transaction.

10. The system of claim 9 wherein said central processing means is further programmed to detect erroneous operations of said terminal means and to cause said display means to display said erroneous operations and thereby permit corrected operation of said terminal means.

11. The system of claim 9 wherein said central processing means is programmed to determine the amount of each credit transaction payment that is credited to the repayment of principal, the payment of interest, and the payment of selectable predetermined fees.

12. The system of claim 11 wherein said central processing means is additionally programmed to calculate and store in said data bank the remaining principal balance due on said credit transaction following said credit transaction payment, and to store the history of payments on said credit transaction and the delinquencies, if any, of said payments.

13. The system of claim 8 wherein said central processing means is responsive to the selection at said terminal means of a "loan collection" informational category to cause said display means to display information of the balance due on each of several, predetermined delinquent loans, and the date on which inquiry should be made to the obligor of each of said predetermined delinquent loans.

14. The system of claim 13 wherein said central processing means is programmed to respond to the selection at said terminal means of one of said predetermined delinquent loans to cause said display means to display information stored in said data bank of the history of delinquent payments, if any, of said loan, the number of previous inquiries made to said obligor, the remaining balance and duration of said loan, and the amount of each periodic payment due on said loan.

15. The system of claim 14 wherein said central processing means is programmed to update the information stored in said data bank when said terminal means operates to write thereinto information on each payment on said loan and information on each inquiry made to said obligor, the last-mentioned information including the date of inquiry and the date of expected loan payment.

16. The system of claim 8 wherein said data bank additionally stores data representing property leased to a lessee and financial loan information associated with the leased property; and wherein said central processing means is responsive to the selection at said terminal means of a "lease collection" informational category to cause said display means to display information on the leased property, including the present value thereof, the duration of the lease, the amount of each periodic lease payment, and the history of delinquent lease payments, if any.

17. The system of claim 16 wherein said central processing means is programmed to respond to the operation of said terminal means to write into said data bank information on each lease payment and information on each inquiry made to the lessee, including the date of each inquiry.

18. A financial data processing system comprising central processing means including a data bank for writing in and reading out financial data of loan activity (the amount of a loan outstanding, the amount and expected dates of periodic loan payments, the interest rates of respective loans, the identities of loan customers, the delinquencies of respective loans, the histories of loan repayments, the remaining durations of respective loans, the identities of property securing respective loans); plural terminals coupled to said central processing means, each terminal having input means for accessing said financial data from said data bank and for entering and supplying updated financial data to said data bank at least during a loan processing transaction, means for receiving data supplied from said central processing means, and display means for displaying the accessed and entered financial data, said display means including a multi-color video display for displaying fixed predetermined informative headings in a first color, updatable financial data in a second color, variable identifying information in a third color, and erroneous entries in a fourth color, said central processing means being programmed to designate the type of data supplied to a terminal and, thus, the particular color in which that data is displayed, and said central processing means being programmed to write into said data bank only financial data that is displayed in said second color during loan processing transactions.

19. A method of processing financial data comprising the steps of:

storing in a data bank, into which data is written and from which data is read, financial credit transaction data representing the balance for each credit transaction outstanding, the finance change payable for each credit transaction, the amount due and payable for each periodic payment on said credit transaction, the identity of each obligor of said credit transaction, and the deliquency of payment, if any, on each credit transaction;

operating ones of plural terminal means, which are coupled to said data bank, to write into and read from said data bank updated credit transaction data;

writing into said data bank during a single operation a batch of credit payment data representing payment amounts and the identities of respective obligors for a batch of credit transaction payments;

writing into said data bank credit trnasaction application data representing the identity of each applicant, the amount, type and duration of the requested credit transaction, the finance charge payable on the requested credit transaction and data representing the applicant's ability to repay the requested credit transaction and in the event that the requested credit transaction is not completed said application data for that requested transaction being retained in said data bank for at least a predetermined period of time thereafter; and

retrieving from said data bank and displaying data currently or previously written to said data bank, including payment data and credit transaction application data, and summary data derived from said data bank and representing summaries of plural credit transactions outstanding, payment deliquencies of said plural credit transactions outstanding, collection histories, and loss of amounts resulting from credit transactions which are not properly repaid.

Description Submit all comments and votes

BACKGROUND OF THE INVENTION

This invention relates to a financial data processing system and a method of operating that system for keeping accounts of loans, loan histories, leases, and pertinent information relevant to each loan and each lease.

Prior to the invention described below, financial information was maintained primarily by handwritten bookkeeping entries. Ledger cards had been used for keeping account of each loan, including information concerning the debtor, information concerning the repayment of each loan, and information concerning attempts, when necessary, to notify and inquire of the debtor in the event that his loan repayments had been delinquent. With the advent of computerized data processing apparatus, many of the aforementioned financial tasks have been facilitated by entering some of the financial data mentioned above into computerized data banks from which that data may be readily retrieved. However, in many systems, hard copies (i.e. printed documents) of each loan transaction, loan history and updated information had been used to keep account of each loan. Furthermore, although individual systems have been developed and have been used to implement individual ones of the various operations that are used for financial loan accounts, there has been no suggestion prior to the instant invention of integrating all of these individual operations and functions into a single centralized system. For example, the processing and history of loan payments might be implemented in a data processing system, but that system is not useful with another system by which lease processing and accounts are maintained. Similarly, histories and details of collections and attempts to collect loans generally have not been stored in electronic data processing systems. Rather, such information relating to loan collections usually is stored in the form of "hard copy" of paper documents.

Still further, some data processing systems which have been used to process and keep account of various loans are not of the so-called "real-time" or on-line systems. Rather, such prior systems process information that is gathered during the day in a so-called "batch" mode during off hours. Consequently, neither a customer (or debtor) nor an operator of the data processing system would be aware of two or more transactions that are made by that customer during a day.

One example of a prior art system which suffers from the disadvantages mentioned above and which is not operable to integrate all of the desired financial loan processing and accounting functions is the CLASS system which had been developed for FinanceAmerica Corporation of Allentown, Pa.

OBJECTS OF THE INVENTION

Therefore, it is an object of the present invention to provide a centralized financial data processing system which avoids the aforenoted disadvantages of prior art systems, which integrates various individual loan and financial processing and accounting systems, and which provides various functions and operations not available heretofore.

Another object of this invention is to provide a central processing system and method of operating that system, in which a data bank provided at a central processor is used to store relevant financial loan information, the data bank being updated in real time.

A further object of this invention is to provide a financial data processing system which utilizes a host computer coupled, via suitable communication channels, to various distributed processors, such as mini-computers, each mini-computer being connected to one or more offices, and each office containing one or more terminals for accessing and updating financial loan information that is maintained at both the host computer and respective ones of the distributed processors connected thereto.

An additional object of this invention is to provide a financial data processing system in which restrictions are placed on the authority of various system users, and in which various decisions made by the users are based upon the financial data stored in the system as well as various laws and regulations promulgated by individual states, the prerequisites of such laws and regulations also being stored in the system.

Various other objects, advantages and features of the present invention will become readily apparent from the ensuing detailed description, and the novel features will be particularly pointed out in the appended claims.

SUMMARY OF THE INVENTION

In accordance with a broad, general feature of this invention, a financial data processing system and a method of operating that system are provided. A central processor includes a data bank into which data is written and from which data is read, that data including financial loan information representing, inter alia, the balance of respective loans outstanding, the interest rates payable on those loans, the principal and interest due and payable for respective, periodic loan payment, the identities of the respective customers (or debtors) and the various delinquencies of payment on the respective loans. The data bank also includes information representing laws and regulations of individual state governments which control and regulate the various parameters of loans, such as interest rates, durations, maximum amounts lendable, qualifications of debtors, and the like.

Plural terminals are coupled to the central processor, each terminal having an input means, such as a keyboard, and a display means, such as a video display terminal (VDT). Each terminal is operable by an operator to write into the data bank updated financial loan information and to access the financial loan information stored therein. Preferably, only those operators with predetermined authorizations, as determined by various identity codes, are permitted to update or change the financial loan information stored in the data bank. The central processor is suitably programmed to recognize such authorizations.

In accordance with one desirable aspect, the input means is operable to enter into the data bank multiple loan payment data representing principal and interest payments and the identities of respective debtors for a batch of loan payments. As a numerical example, loan payments on twelve separate accounts may be entered in a single batch, each of those loan payments being credited as to the payment of interest, principal and other charges. Such multiple loan payment processing facilitates the payment by mail from customers of bank credit cards, lines of credit, secured or unsecured loans, mortgage payments, lease payments, and the like.

As another aspect of the financial data processing system of the present invention, the input means is operable by the operator to enter a loan application data into the data bank, this loan application data representing the identity of each applicant, the amount, type and duration of the requested loan, the interest rate payable on the requested loan, and credit data representing the applicant's ability to repay the requested loan. The stored loan application data is utilized in the event that the applicant requests subsequent loans, leases or other transactions implemented by the financial data processing system. Such loan application data also is usable by an operator of the system when making inquiries of customers whose loan repayments may be delinquent. Such loan application data also is utilized by supervisory personnel in determining whether an applicant's credit qualifications are satisfactory and whether various loans and/or leases are to be approved or rejected.

The display means included in the aforementioned terminal are operable to display data stored in the data bank, including loan payment and loan application data, summary data representing summaries of plural loans outstanding, payment delinquencies of those outstanding loans, collection histories of those loans and losses of loan principal caused by loans which are not repaid. Other preselected summaries also may be displayed upon suitable input requests from the input means, such as the profitability of various loans, the quantity of loans in different categories, and demographic data that is indicative of various profits, losses and volume of various financial products that are processed and accounted for by the financial data processing system.

In accordance with one aspect of this invention, the central processor comprises a host computer coupled, by means of conventional communication channels, to distributed processors, such as mini-computers, located in regions spaced from the host computer. Each mini-computer may be connected to one or more regional offices, and each office may include one or more of the aforementioned terminals. The host computer serves as a back-up and archive for the financial records utilized by the mini-computers in processing and keeping account of the financial data used by those offices to which the respective mini-computers are connected. The host computer communicates with the various mini-computers in real time, such that updated financial data that is written into a data bank at a mini-computer is transferred, in real time, to the data bank located at the host computer. Preferably, but not necessarily, changes in state laws and regulations may be made at the host computer; and such changes subsequently may be transmitted, if needed, to the mini-computers.

One or more terminals may be connected to the host computer; and the host is programmed such that an operator at one of those terminals may communicate with a mini-computer as if the host is "transparent". One advantage of utilizing distributed mini-computers resides in the fact that the overall financial data processing system is capable of continued operation even in the event of a malfunction at one or more terminals, offices or mini-computers. Likewise, in the event of a significant malfunction at the host computer, the data banks provided at each mini-computer nevertheless permit those mini-computers to continue operation.

In a preferred embodiment, each display means is provided with a multi-colored VDT, such as an IBM Model 3279 display. This colored display provides alphanumeric information of different colors, one color representing predetermined headings, categories or titles to identify information associated therewith, another color indicating an erroneous entry of data or an error message in the event of an erroneous entry, yet another color representing information which, once entered, cannot be varied during normal operation of terminal, such as the identity of a customer, the duration of a loan, the initial principal of that loan, and the like, and yet another color which indicates data that normally is entered and updated at a terminal, such as the amount of a loan payment, the date on which that payment is made, etc.

Still another desirable feature of the present invention is the use of menu processing. That is, the central processor is programmed to provide a display of a menu of all of the financial transactions that may be processed at a terminal. Depending upon the selection of a particular financial transaction, the central processor is programmed further to provide a display at that terminal of various functions or options relating to the selected transaction which may be implemented at the terminal. Then, depending upon the option which is selected, additional sub-menus are displayed in accordance with the program of the central processor. Thus, an operator need not be a highly trained technician, nor need the operator memorize all of the possible financial transactions and options that may be selected. Rather, the operator merely need be aware of basic financial loan transactions so as to follow, in a step-by-step manner, the various menus and "prompts" provided by the central processor and displayed at the VDT.

Yet another feature of this invention is the ability at each office and at a central site to print hard copies of various loan documents. In particular, the data to be printed is stored in various queues for subsequent printing during times when the central processor (or distributed mini-computers) experience relatively low volumes of activity. Consequently, the important data processing time that otherwise is utilized to process loan transactions need not be curtailed for the purpose of printing a loan document.

BRIEF DESCRIPTION OF THE DRAWINGS

The following detailed description, given by way of example, and not intended to limit the present invention solely to the described embodiments, will best be understood in conjunction with the accompanying drawings in which:

FIG. 1 is a block diagram of the financial data processing system in accordance with this invention, and which is provided with a host central computer and various distributed mini-computers;

FIG. 2 is a flow chart representing the manner in which menu-driven financial transactions are implemented at the host central computer and/or at each distributed mini-computer;

FIG. 3 is a schematic representation of the manner in which documents are printed at an office that is in communication with one of the distributed mini-computers;

FIGS. 4A and 4B are schematic representations of the manner in which the data base of the central processor, preferably, the host central computer, is supplied with updated laws and regulations promulgated by the various state governments;

FIG. 5 is a flow chart representation of the manner in which the central processor is programmed to provide displays of various summaries upon requests from authorized operators;

FIGS. 6A and 6B are schematic representations of the manner in which the central processor is programmed for cash management control at a remote office (i.e. an office connected to a distributed mini-computer);

FIG. 7 is a representation of a display "screen" of the main, or primary, menu of financial transactions that may be selected and implemented by the financial data processing system;

FIG. 8 represents a display screen of a sub-menu of a category of financial transactions selected from the main menu;

FIG. 9 is a display screen of a "multiple payment" data entry format selected from the sub-menu shown in FIG. 8;

FIGS. 10A and 10B constitute a flow chart of the manner in which the "multiple payment" financial transaction is implemented;

FIGS. 11A-11C constitute a flow chart of the manner in which a "collections" financial transaction, selected from the main menu illustrated in FIG. 7, is illustrated;

FIGS. 12-20 represent display screens that are used in conjunction with the "collections" routine represented by the flow charts shown in FIGS. 11A-11C.

DETAILED DESCRIPTION OF A PREFERRED EMBODIMENT

The following detailed description is intended to provide an understanding of the manner in which the financial data processing system of the present invention is implemented and operates. Some of the particular financial transactions that are implemented by this system are described in detail. Other such transactions are described more generally. In the interest of brevity, a detailed description of each and every one of the financial data transactions that may be carried by the data processing system of the present invention is not provided. Based upon the detailed description of certain examples, taken in conjunction with the state of the programming art and the knowledge of those of ordinary skill in that programming art, particular programs, routines and subroutines for carrying out those financial transactions which are described broadly will become readily apparent.

Turning now to the drawings, FIG. 1 is a schematic representation of a preferred embodiment of the overall financial data processing system. This system is comprised of a host central computer 50 that is coupled by way of conventional communication channels, such as telephone lines or the like, to various distributed mini-computers 52, 68 and 82. It is appreciated that host computer 50 may be coupled to several additional mini-computers, not shown. Host computer 50 may be an IBM Model 3031 and/or 4341 main-frame computer. Each mini-computer, also referred to herein as a "distributed computer", may be an IBM Model 8140 processor.

In the embodiment depicted in FIG. 1, a distributed computer, such as computer 52, is coupled by suitable communication channels to various offices that may be remote from the computer, these offices being designated as remote offices, such as remote office A 56 and remote office B 54. Each office may be physically spaced from the site of computer 52 or, alternatively, one or more of the remote offices may be located in the same physical structure or building therewith. Although only two remote offices are illustrated as being connected to computer 52, it will be appreciated that several additional remote offices may be connected thereto. A number of such remote offices may be grouped into various regions, and each distributed computer may be connected to one or more groups, or regions, of such offices. Each office is capable of conducting financial transactions with computer 52, and the computer includes suitable storage apparatus, such as magnetic disks, tapes or the like, capable of storing approximately 15,000 active customer account records of various types. As a numerical example, each distributed computer 52, 68 and 82 may be coupled to up to sixteen remote, or branch, offices.

The storage apparatus provided at each distributed computer stores data banks, or data bases, the data including financial loan information of the various customers that are serviced by the remote offices connected to that computer. As used herein, the expression "service" or "servicing" means the undertaking of various financial transactions with, on behalf of or related to a customer. As also used herein, the expression "customer" means a debtor, that is, an individual (either real or legal) to whom a loan is made or to whom property has been leased. Such customers also may conduct various banking transactions with or at the remote offices, such as deposits or withdrawals from various bank accounts, the purchase and redemption of financial paper, and the like. Information relating to the customer's loans, leases, bank accounts, financial paper transactions, and the like are included in the "financial information" that is stored in data bank 66.

Remote office A 56 and remote office B 54 are similar and, in the interest of brevity and simplification, only one of these remote offices is described. It is appreciated that, similarly, remote offices 70 and 76 also are similar to remote offices 54 and 56. Each remote office includes one or more terminals, and each terminal is provided with a video display device, such as a video display terminal (VDT). The VDT may be a conventional display, such as an IBM 3276 or 3279 VDT. Preferably, the VDT includes a color CRT such as the IBM 3279 VDT. Each terminal also is provided with input means by which data may be manually entered by an operator to computer 52 for storage in data bank 66. Preferably, the input means comprises a keyboard, such as keyboard 60 or keyboard 64, the keyboard being of conventional construction. The keyboard is operable by an operator to write financial data into data bank 66 under the programmed control of computer 52. The financial data information written into data bank 66 is described in greater detail below, and includes multiple loan payment data representing principal and interest payments and the identities of respective customers, this data being entered for a "batch" of loan payments. As used herein, the expression "batch" means a plurality of separate transactions that are entered during a single operation (but, it will be appreciated, not necessarily in response to a single key stroke) of keyboard 60. The entry of such loan payment data is described below.

Keyboard 60 (or 64) also is operable to write loan application data into data bank 66. Such loan application data preferably represents the identity of each appicant, the amount, type and duration of the requested loan, the interest rate payable on the requested loan and credit data representing the applicant's ability to repay the requested loan, such as the applicant's age, employer, business or occupation, security, collateral, co-signer of a note evidencing the loan, etc. Such data is stored not only in data bank 66 of computer 52, but this data also is transmitted to host central computer 50 where it is stored for the purpose of backing up the information in data bank 66. Hence, in the event that computer 52 malfunctions to the extent that the financial data information stored in data bank 66 is destroyed, this information may, nevertheless, be replaced from host central computer 50.

As will be described below, VDT 58 is operable to display various fields of data representing the financial information associated with each customer and with each loan, this financial information being stored in data bank 66. Examples of the displays provided on the display screen of VDT 58 are described below. Preferably, various data fields of the VDT display screen are displayed in different colors, thus facilitating the entry and updating of financial data, the recognition of errors, if any, and the ready understanding by an operator of the displayed information. As an example, and as will become apparent from a description of some of the displays discussed below (these displays sometimes being referred to as a "display screen" which means the information that is displayed on the screen of the VDT), one color (e.g. white) is used to display data that is fixed and not variable, such as particular headings of the display screen, another color (e.g. red) is used to display errors and error messages, yet another color (e.g. blue) is used to display information that, once entered, remains substantially fixed, such as a customer's name, identity code, an account number, etc., and yet another color (e.g. green) is used to display variable data that may be entered and updated from time to time by the operator. Examples of such enterable data include the amount and date of a loan payment.

Host central computer 50 is coupled to various terminals, such as terminals 84 and 90, each terminal being similar to a terminal connected to a distributed computer, described above. Host central computer 50 is programmed such that the user of a terminal connected thereto, such as terminal 84, may access data stored in data bank 66 at computer 52. The interaction between terminal 84 and computer 52 proceeds as if host central computer 50 is "transparent".

FIG. 1 illustrates back-up data bases 96, 98, etc., corresponding to data banks 66, 81, etc. at the distributed computers. In addition to storing back-up data, host central computer 50 is programmed to permit an operator of, for example, terminal 84, to obtain various summaries of different financial activities and different financial products. Thus, management reports may be displayed and, additionally, host central computer 50 preferably is connected to one or more printers to permit the printing of a hard copy of such summary reports. For example, summaries of home secured loans, home improvement loans, vehicular loans, unsecured loans, credit card loans, closed end loans, precalculated loans, etc. may be obtained, as well as summaries of loans in excess of a predetermined amount, loans carrying an interest rate within certain preselected ranges, loans made to different geographical areas, loans made to individuals of different ages, backgrounds, occupations, etc., also may be obtained. Suffice it to say that summary reports of different financial products based upon different demographic parameters may be extracted from the data stored in the various data bases provided at host central computer 50 under the control of the particular summary routine program of that computer. Similar summaries may be obtained by extracting the necessary data from, for example, data bank 66 at distributed computer 52 under the control of a summary routine provided in the program of that computer.

Host central computer 50 also is provided with a data bank in which data representing the laws and regulations of various state agencies having governmental control over financial transactions are stored. Such laws and regulations, as mentioned above, delimit, among other things, the interest rates and durations of various loans. As such laws and regulations change, an operator may enter such laws and regulations by suitable operation of, for example, terminal 84. The data representing such state laws and regulations may be transmitted to and stored at the various distributed computers or, alternatively, such data may be transmitted for use at a distributed computer when a particular transaction is in progress which requires such data.

The system illustrated in FIG. 1 may be thought of as a central/distributed system. In the event that a particular distributed computer, such as mini-computer 52, malfunctions, the remaining distributed computers (e.g. mini-computers 60 and 82) may continue to operate and process various financial transactions. The entire system need not be shut down in the event of a failure at one of the distributed computers. Similarly, in the event that host central computer 50 is subjected to a malfunction, each of the distributed computers nevertheless is provided with suitable financial data stored in its respective data bank so as to permit continued financial transactions with the remote offices connected thereto. It will be appreciated that additional distributed computers and remote offices may be connected to the illustrated system, as needed.

It also will be appreciated that each terminal that is coupled to a distr