Douglas E Phillips

Title: Innovations of Douglas E Phillips

Introduction

Douglas E Phillips is an accomplished inventor based in Arlington, VA, with a notable portfolio of six patents. His work primarily focuses on financial technology, particularly in managing custodial deposit accounts. His innovative approaches have contributed significantly to the field, enhancing the efficiency and effectiveness of fund management.

Latest Patents

One of his latest patents is a method, system, and computer program product for managing funds in custodial deposit accounts. This invention outlines a comprehensive approach for managing aggregate funds held in custodial deposit accounts by a custodial agent on behalf of multiple individuals. The system includes an omnibus transaction account and an omnibus money market deposit account, along with corresponding individual transaction accounts and individual money market deposit accounts for each individual. The invention also addresses limitations on transfers between these accounts, ensuring a structured daily allocation of funds.

Career Highlights

Throughout his career, Douglas has worked with various companies, including Promontory Interfinancial Network, LLC. His experience in the financial sector has allowed him to develop innovative solutions that streamline fund management processes.

Collaborations

Douglas has collaborated with notable professionals in his field, including Robert N Hyland and Anthony R Carlino. These partnerships have further enriched his work and contributed to the development of his patents.

Conclusion

Douglas E Phillips stands out as a significant figure in the realm of financial technology innovation. His contributions through his patents have paved the way for improved management of custodial deposit accounts, showcasing his expertise and commitment to advancing the industry.