18065116. IMPLEMENTING AND DISPLAYING DIGITAL TRANSFER INSTRUMENTS simplified abstract (Truist Bank)

IMPLEMENTING AND DISPLAYING DIGITAL TRANSFER INSTRUMENTS

Organization Name

Truist Bank

Inventor(s)

Christopher Jon Kuiper of Douglasville GA (US)

James Raleigh Weaver of Atlanta GA (US)

Ejaz Ahmed Syed of Morrisville NC (US)

IMPLEMENTING AND DISPLAYING DIGITAL TRANSFER INSTRUMENTS - A simplified explanation of the abstract

This abstract first appeared for US patent application 18065116 titled 'IMPLEMENTING AND DISPLAYING DIGITAL TRANSFER INSTRUMENTS

The patent application describes systems and methods for creating and enhancing digital instruments used for electronic transfers.

• The system converts traditional instruments into a digital format.
• Electronic augmentations, such as metadata or layered optically perceptible data, are added to the digital instrument.
• These augmentations can be verified or edited, providing additional security and customization options.
• The augmented digital instrument is then transmitted to a third party for transfer execution.

Potential Applications:

• Secure electronic transfers in financial transactions.
• Customizable digital contracts with verifiable metadata.
• Enhanced digital certificates for authentication purposes.

Problems Solved:

• Traditional instruments may lack security features.
• Difficulty in verifying the authenticity of digital instruments.
• Limited customization options for digital instruments.

Benefits:

• Increased security for electronic transfers.
• Customizable digital instruments for various purposes.
• Enhanced verification processes for digital documents.

Commercial Applications:

• Financial institutions for secure transactions.
• Legal firms for digital contract management.
• Government agencies for secure document transfers.

Prior Art: Prior art related to this technology may include research on digital signatures, blockchain technology, and secure document management systems.

Frequently Updated Research: Research on encryption methods, metadata standards, and digital authentication technologies may be relevant to this technology.

Questions about Digital Instrument Augmentation: 1. How does the system ensure the integrity of the electronic augmentations added to the digital instruments? 2. What are the potential limitations of using layered optically perceptible data for electronic transfers?

Original Abstract Submitted

Disclosed are systems and methods for generating and augmenting digital instruments that implement electronic transfers. The system converts instruments to a digital format and applies electronic augmentations in the form of metadata or layered optically perceptible data that can be verified or edited. The electronic augmentations are integrated with the digital instrument prior to transmitting the instrument to a third party to initiate transfer execution.