18065129. DYNAMIC AUGMENTED DIGITAL TRANSFER INSTRUMENTS simplified abstract (Truist Bank)

DYNAMIC AUGMENTED 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)

DYNAMIC AUGMENTED DIGITAL TRANSFER INSTRUMENTS - A simplified explanation of the abstract

This abstract first appeared for US patent application 18065129 titled 'DYNAMIC AUGMENTED DIGITAL TRANSFER INSTRUMENTS

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

• The system converts instruments into a digital format and adds electronic augmentations in the form of metadata or layered optically perceptible data.
• These augmentations can be verified or edited and are integrated with the digital instrument before transfer execution.
• The electronic augmentations enhance the security and authenticity of the digital instruments during the transfer process.

Potential Applications:

• Secure digital transactions
• Electronic fund transfers
• Digital asset management

Problems Solved:

• Ensuring the authenticity of digital instruments
• Enhancing security during electronic transfers

Benefits:

• Improved verification processes
• Enhanced security measures for digital transactions
• Streamlined electronic transfer procedures

Commercial Applications:

• Financial institutions
• Online payment platforms
• Digital asset exchanges

Prior Art: Prior art related to this technology may include research on digital signatures, electronic verification methods, and secure data transmission protocols.

Frequently Updated Research: Research on blockchain technology, encryption methods, and digital authentication systems may be relevant to this technology.

Questions about Digital Instrument Augmentation: 1. How does the system ensure the integrity of the electronic augmentations? 2. What are the potential limitations of using 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.