Mobile check issue capture system and method

1. A system for assembling information contained within a financial instrument for subsequent verification of the financial instrument, the financial instrument including an identifier corresponding to a payee of the financial instrument, the payee being different from a payer of the financial instrument, comprising:

an information generation device, comprising

an image capture device configured to capture an image of an object, and

a first communication circuit configured to communicate the extracted information over a network; and

a verification device remote from the information generation device, the verification device comprising

a second communication circuit configured to communicate with the first communication circuit over a network, and

a database for storing information corresponding to financial instruments, said information for use during a subsequent verification process, wherein the verification device is configured to at least one of

i) receive from the information generation device information extracted from an image of the financial instrument and store the extracted information in the database, said image captured prior to transfer of the financial instrument to the payee, or

ii) receive an image of the financial instrument captured from the information generation device, extract information from the image, and store the extracted information in the database, said image captured prior to transfer of the financial instrument to the payee, and

the verification device further configured to perform a verification process upon the financial instrument being presented for payment, said verification process comprising comparing information on the financial instrument as presented for payment with corresponding information stored in the database and obtained prior to transfer of the financial instrument to the payee.

2. The system according to claim 1 , wherein the verification device comprises a verification device of a financial institution.

3. The system according to claim 1 , wherein the verification device comprises an intermediate storage area independent from a payer of the financial instrument and a financial institution in which the payer has an account.

4. The system according to claim 1 , wherein the information capture device comprises a mobile phone.

5. The system according to claim 1 , wherein the information generation device or the verification device comprises a data extraction circuit configured to extract information from an image of a financial instrument captured.

6. The system according to claim 5 , wherein the data extraction circuit is configured to extract at least one of a payment amount, a payment date, a payee name, an account number, a routing number or a check number.

7. The system according to claim 1 , wherein the information generation device is configured to assemble extracted information into a container.

8. The system according to claim 7 , wherein the information generation device is configured to assemble the extracted information into a container having the form of a file.

9. A method for assembling information contained within a financial instrument for subsequent verification of the financial instrument, the financial instrument including an identifier corresponding to a payee of the financial instrument, the method comprising:

using an imaging device to obtain an image of the financial instrument, said image obtained prior to transferring the financial instrument to the payee, the payee being different from a payer of the financial instrument;

extracting information from the image of the financial instrument; and

transferring the extracted information to a storage area, wherein the storage area is separate and remote from the imaging device;

storing the extracted financial information in a database;

upon the financial instrument being presented for payment, retrieving from the database the extracted information corresponding to the financial instrument presented for payment;

comparing the retrieved information to information on the financial instrument presented for payment; and

making payment or denying payment based on the comparison.

10. A verification device for verifying a financial instrument, the financial instrument including an identifier corresponding to a payee of the financial instrument, the payee being different from a payer of the financial instrument, comprising:

a communication circuit configured to communicate over a network, and

a database for storing information corresponding to financial instruments, said information for use during a subsequent verification process, wherein the verification device is configured to at least one of

i) receive via the communication circuit information extracted from an image of the financial instrument and store the extracted information in the database, said image captured prior to transfer of the financial instrument to the payee, or

ii) receive via the communication circuit an image of the financial instrument, extract information from the image, and store the extracted information in the database, said image captured prior to transfer of the financial instrument to the payee, and

the verification device further configured to perform a verification process upon the financial instrument being presented for payment, said verification process comprising comparing information on the financial instrument as presented for payment with corresponding information stored in the database and obtained prior to transfer of the financial instrument to the payee.