Charles F. Pigg, a notable inventor based in Plano, Texas, has made significant contributions to the field of automated financial transactions. With a total of seven patents to his name, Pigg is recognized for his innovative approaches to streamlining decision-making processes in banking, particularly regarding check cashing.

Latest Patents

Among his latest patents is a groundbreaking invention titled "Transaction decisioning by an automated device." This patent describes methods, systems, and computer-readable media that determine whether a check can be cashed at an automated teller machine (ATM). The technology allows the ATM to capture check image data and transmit it to a check cashing computing platform for analysis. The platform evaluates whether the account on which the check is drawn belongs to the financial institution operating the ATM or another institution. Based on this determination, a set of rules is applied to assess the check's cashing risk score, leading to a decision regarding the transaction.

Another key aspect of his latest invention is the user interaction, where a user can request to cash a check at an ATM. The check image data is sent to a return deposit item computing platform that identifies the account number associated with the check. By retrieving transaction data related to this account, the platform can track the number of returned deposit items and make an informed decision on whether the check should be cashed.

Career Highlights

Charles F. Pigg is currently employed at Bank of America Corporation, where he continues to innovate in the financial technology space. His work contributes to improving security and efficiency in automated banking processes, ultimately benefiting consumers and financial institutions alike.

Collaborations

Throughout his career, Pigg has collaborated with various professionals in the field, including his coworkers Somnath Choudhuri and Daniel Bodalski. Together, they strive to push the boundaries of what is possible in transaction technology and automated financial solutions.

Conclusion

Charles F. Pigg's dedication to innovation has placed him at the forefront of advancements in automated banking systems. His latest patents reflect his commitment to enhancing consumer safety and improving the efficiency of financial transactions. With a path of continued innovation ahead, Pigg's contributions are sure to have a lasting impact on the banking industry.

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