Alfonso McMillian

Title: Alfonso McMillian: Innovator in Funds Transfer Technology

Introduction

Alfonso McMillian is a notable inventor based in Charlotte, NC (US), recognized for his contributions to the field of financial technology. He holds a total of 3 patents that focus on innovative methods for transferring funds securely and efficiently.

Latest Patents

One of McMillian's latest patents is a system and method for transferring funds. This method includes receiving a funds transfer request initiated by a sender to facilitate a transfer of funds to a recipient. The funds can be transferred from a sender account at a financial institution to a recipient account at another financial institution. Notably, the funds transfer request can include a public token for the recipient without sharing the recipient's account number. The method also involves confirming the usability of the public token through authentication responses from the recipient. Additionally, it determines a private token for the recipient account, which is embedded with information identifying the recipient financial institution. This innovative approach ensures that the account number of the recipient is not disclosed to the sender, enhancing security.

Another significant patent by McMillian is also a system and method for transferring funds. This method includes receiving a funds transfer request from a sender through a computer network. It determines if the recipient is a registered user of the funds transfer payment network. If not, an invitation is automatically transmitted to the recipient to join the network. The method further includes collecting identifying information from the recipient and creating a record in the database of registered users. This process allows the sender financial institution to initiate the transfer of funds seamlessly.

Career Highlights

Alfonso McMillian is currently employed at Early Warning Services, LLC, where he continues to develop innovative solutions in the financial technology sector. His work focuses on enhancing the security and efficiency of funds transfer processes.

Collaborations

McMillian collaborates with talented professionals in his field, including Sri Saravana Muthu and John G Feldman. Their combined expertise contributes to the advancement of financial technology solutions.

Conclusion

Alfonso McMillian is a significant figure in the realm of financial technology, with a focus on secure funds transfer methods. His innovative patents and contributions to Early Warning Services, LLC highlight his commitment to improving financial transactions.