Systems and methods for facilitating a secure transaction at a non-financial institution system

US10395247B2 · kind B2 · utility

Assignee

• Early Warning Services, LLC · US

Inventors

• Clinton Gilliam, III · San Francisco, US
• Melissa Lowry · San Francisco, US
• Michael J. Kennedy · San Francisco, US
• Sergei Lilichenko · Orinda, US

Key dates

• Filing date: Jul 13, 2016
• Grant date: Aug 27, 2019
• Expiry date: Aug 3, 2037

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q20/405
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

The systems and methods discussed herein relate to securely transferring funds over a private network. Receiving transaction data related to a fund transfer including a tokenized financial instrument, providing to a sender financial institution the tokenized financial instrument to enable the sender financial institution to de-tokenize the tokenized financial instrument and identify an account of the sender, receiving a sender private identifier generated by the sender financial institution, providing to the sender financial institution the transfer amount of the fund transfer to enable the sender financial institution to transfer funds, providing a transaction identifier and a recipient private identifier to the recipient financial institution to enable the recipient financial institution to receive an ACH message from the sender financial institution over the ACH network, the ACH message indicating payment from the sender financial institution to the recipient financial institution to perform the fund transfer with funds over the ACH network.