20240037087. SYSTEM FOR AUTOMATIC DATA TRANSFER ACCELERATION simplified abstract (The Toronto-Dominion Bank)

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SYSTEM FOR AUTOMATIC DATA TRANSFER ACCELERATION

Organization Name

The Toronto-Dominion Bank

Inventor(s)

Jonathan Joseph Prendergast of West Chester PA (US)

Thomas Osman Kelly of Wenonah NJ (US)

Sultan Harb of Cherry Hill NJ (US)

Hitesh Bajaj of Duluth GA (US)

SYSTEM FOR AUTOMATIC DATA TRANSFER ACCELERATION - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240037087 titled 'SYSTEM FOR AUTOMATIC DATA TRANSFER ACCELERATION

Simplified Explanation

The abstract of the patent application describes a computer system that is configured to accelerate a transfer based on certain conditions and a due date. The system initiates the transfer when either the conditions for acceleration have occurred or the current date is close to the due date.

  • The computer system receives data defining conditions for accelerating a transfer.
  • The system obtains a due date for completing the transfer.
  • It initiates the transfer if either the conditions for acceleration have occurred or the current date is within a defined proximity of the due date.

Potential applications of this technology:

  • Financial transactions: The system can be used to accelerate the processing of financial transfers based on specific conditions and due dates.
  • Logistics and supply chain: It can be applied to expedite the transfer of goods or materials when certain conditions are met, ensuring timely delivery.

Problems solved by this technology:

  • Delayed transfers: The system helps prevent delays in transfers by automatically initiating them when conditions for acceleration are met or when the due date is approaching.
  • Manual intervention: It reduces the need for manual intervention in initiating transfers, improving efficiency and reducing errors.

Benefits of this technology:

  • Improved efficiency: By automating the initiation of transfers, the system streamlines the process and reduces the time required.
  • Timely completion: Transfers are completed on time, ensuring that deadlines are met.
  • Reduced errors: Manual errors in initiating transfers are minimized, leading to more accurate and reliable transactions.


Original Abstract Submitted

in an aspect a computer system is configured to: receive accelerated transfer definition data defining one or more conditions for accelerating a transfer; obtain a due date for completing the transfer; initiate the transfer in response to the earlier of: determining that at least one of the conditions for accelerating the transfer have occurred; and determining that a current date is within a defined proximity of the due date for completing the transfer.

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