17984352. SYSTEMS, METHODS, AND APPARATUSES FOR ELECTRONIC AUTHORIZATION FOR TRANSFER OF AN ELECTRONIC RESOURCE simplified abstract (Bank of America Corporation)

SYSTEMS, METHODS, AND APPARATUSES FOR ELECTRONIC AUTHORIZATION FOR TRANSFER OF AN ELECTRONIC RESOURCE

Organization Name

Bank of America Corporation

Inventor(s)

Alejandra Magiella Wessolossky Guzman of Jacksonville FL (US)

Joseph Benjamin Castinado of North Glenn CO (US)

SYSTEMS, METHODS, AND APPARATUSES FOR ELECTRONIC AUTHORIZATION FOR TRANSFER OF AN ELECTRONIC RESOURCE - A simplified explanation of the abstract

This abstract first appeared for US patent application 17984352 titled 'SYSTEMS, METHODS, AND APPARATUSES FOR ELECTRONIC AUTHORIZATION FOR TRANSFER OF AN ELECTRONIC RESOURCE

Simplified Explanation

The present disclosure describes systems, computer program products, and methods for electronic authorization for the transfer of an electronic resource.

• Electronic copy of a resource distribution instrument is generated
• Electronic authorization request is transmitted to a device associated with a resource distribution
• Electronic authorization response is received from the user device associated with the recipient user
• Authorization of the resource distribution instrument is generated based on the electronic authorization response

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1. 1. 1. Potential Applications

This technology could be applied in various industries such as banking, finance, e-commerce, and digital content distribution.

1. 1. 1. Problems Solved

This technology solves the problem of securely authorizing the transfer of electronic resources to specific recipients.

1. 1. 1. Benefits

The benefits of this technology include enhanced security, efficiency in electronic resource transfers, and improved user experience.

1. 1. 1. Potential Commercial Applications

The potential commercial applications of this technology include secure online transactions, digital content distribution platforms, and financial services.

1. 1. 1. Possible Prior Art

One possible prior art for this technology could be electronic signature systems used in online banking and document signing applications.

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1. 1. 1. Unanswered Questions

1. 1. 1. 1. How does the system ensure the authenticity of the electronic authorization response?

The system may use encryption techniques and biometric authentication to verify the identity of the recipient user.

1. 1. 1. 1. What measures are in place to prevent unauthorized access to the electronic resource during the transfer process?

The system may implement secure communication protocols and access controls to prevent unauthorized access to the electronic resource.

Original Abstract Submitted

Systems, computer program products, and methods are described herein for electronic authorization for transfer of an electronic resource. The present disclosure is configured to generate an electronic copy of a resource distribution instrument, wherein the resource distribution instrument identifies a recipient account; transmit an electronic authorization request to a device associated with a resource distribution, wherein the device associated with the resource distribution is a device associated with a recipient user of the recipient user account; receive an electronic authorization response from the user device associated with the recipient user, wherein the electronic authorization response comprises at least one of an electronic signature or a captured physical characteristic; and generate an authorization of the resource distribution instrument based on the electronic authorization response.