Bank of America Corporation (20240275595). Domain Specific Tokens for Reduced Token Generation simplified abstract
Contents
Domain Specific Tokens for Reduced Token Generation
Organization Name
Inventor(s)
Jeetendra Hukmichand Jain of Charlotte NC (US)
Bradley Holland of Huntersville NC (US)
James Loney of Charlotte NC (US)
Vineet Agarwal of Simi Valley CA (US)
Domain Specific Tokens for Reduced Token Generation - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240275595 titled 'Domain Specific Tokens for Reduced Token Generation
The abstract of the patent application discusses aspects related to virtual tokens and tokenization of card information. A computing platform generates domain-specific tokens corresponding to card numbers with approved users lists. When a first enterprise device provides card information, the platform identifies if tokenization is approved by a second enterprise. If approved, the platform modifies the approved users list to include the first enterprise and sends the domain-specific token to the first enterprise device for event processing validation.
- Computing platform generates domain-specific tokens for card numbers
- Tokenization of card information approved by second enterprise
- Modifying approved users list to include first enterprise
- Sending domain-specific token to first enterprise device for validation
- Event processing request validation based on receipt of domain-specific token
Potential Applications: - Secure payment processing - Data protection in financial transactions - Enhanced security for sensitive information
Problems Solved: - Mitigating risks associated with card information exposure - Streamlining tokenization processes for multiple enterprises
Benefits: - Improved data security - Simplified tokenization procedures - Enhanced trust between enterprises in sharing sensitive information
Commercial Applications: Title: Secure Tokenization Technology for Enterprise Data Protection This technology can be utilized by financial institutions, e-commerce platforms, and other enterprises that handle sensitive card information to enhance data security and streamline tokenization processes. The market implications include increased trust from customers and partners due to improved data protection measures.
Prior Art: Readers can explore prior art related to tokenization technologies in the financial and data security sectors to understand the evolution of tokenization processes and their applications in different industries.
Frequently Updated Research: Stay updated on the latest advancements in tokenization technologies, data security protocols, and encryption methods to enhance the effectiveness of this technology in safeguarding sensitive information.
Questions about Tokenization Technology: 1. How does tokenization technology differ from encryption in securing sensitive data? Tokenization replaces sensitive data with unique tokens, while encryption transforms data into a coded format for secure transmission and storage. 2. What are the key considerations for enterprises when implementing tokenization technology for data protection? Enterprises should assess the scalability, compatibility, and compliance requirements of tokenization solutions to ensure effective data protection measures.
Original Abstract Submitted
aspects of the disclosure relate to virtual tokens. a computing platform may generate a domain specific token, corresponding to a card number and having an approved users list. the computing platform may receive, from a first enterprise device corresponding to a first enterprise, card information of a card. the computing platform may identify that tokenization of the card information is approved by a second enterprise corresponding to the card. based on identifying that the tokenization is approved, the computing platform may modify the approved users list to include the first enterprise. the computing platform may send, to the first enterprise device, the first domain specific token, where the computing platform is configured to validate an event processing request based on receipt of the first domain specific token from the first enterprise device.
