Company Filing History:
Years Active: 2021
Title: Innovations by Basavaraj Murugendraiah
Introduction
Basavaraj Murugendraiah is a notable inventor based in Bengaluru, India. He has made significant contributions to the field of secure banking transactions. His innovative approach has led to the development of a unique method that enhances the security of cardless transactions.
Latest Patents
Murugendraiah holds a patent for a "Method and system for performing secure banking transactions." This invention outlines a process for conducting secure cardless transactions using a user device. The method involves downloading an authenticated banking application linked to a user by a unique ID. Upon logging into the application, the user device and ATM are securely paired, utilizing a location-based unique ID. The secure pairing process incorporates parameters such as a specific application identifier and a transaction terminal identifier. Once initiated, the ATM displays a unique number generated by the bank server, which is linked to the user. Biometric authentication is then performed, validating a token ID and rendering a user-specific UI onto the user device. This innovative solution enhances the security and convenience of banking transactions.
Career Highlights
Basavaraj Murugendraiah is currently employed at Tata Consultancy Services Limited, a leading global IT services and consulting company. His work focuses on developing secure banking solutions that leverage advanced technology to improve user experience and security.
Collaborations
Some of his notable coworkers include Hitesh Umedkumar Ruparelia and Ramya R Varma. Their collaboration contributes to the innovative environment at Tata Consultancy Services Limited.
Conclusion
Basavaraj Murugendraiah's contributions to secure banking transactions exemplify the importance of innovation in the financial technology sector. His patent reflects a commitment to enhancing security and user experience in banking.