Verifying external accounts in real-time using dynamic smart contracts

US12169837B2 · kind B2 · utility

Assignee

• Bank of America Corporation · US

Inventors

• Udaya Kumar Raju Ratnakaram · Chilpur, IN
• Puneetha Polasa · Chilpur, IN
• Sandeep Kumar Chauhan · Plumpton Green, GB
• Bhagya Lakshmi Sudha Lavanya Mallidi · Hyderabad, IN
• Prashanthi Jambula · Hyderabad, IN
• Shravan Kumar Kondoju · Hyderabad, IN

Key dates

• Filing date: Oct 21, 2021
• Grant date: Dec 17, 2024
• Expiry date: Oct 26, 2042

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q2220/00
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Aspects of the disclosure relate to verifying external accounts in real-time using dynamic smart contracts. A computing platform may receive a consumer request to initiate a transaction, at an enterprise organization, with an entity associated with an account. The computing platform may use the received consumer request to generate a smart contract profile associated with the entity. The computing platform may use the smart contract profile associated with the entity to determine a trust score associated with the entity. The computing platform may gather data indicating external accounts associated with the entity. The computing platform may use the data indicating the external accounts associated with the entity to determine a confidence threshold value. The computing platform may compare the trust score associated with the entity to the confidence threshold value to verify the legitimacy of the account associated with the entity.