Edward P Scholtens

Title: Edward P. Scholtens: Innovator in Payment Systems

Introduction

Edward P. Scholtens is a notable inventor based in San Francisco, CA. He has made significant contributions to the field of payment systems, holding a total of 3 patents. His work focuses on enhancing transaction security and efficiency through innovative methods.

Latest Patents

One of Edward's latest patents is titled "Systems and methods for preferring payments using a social background check." This invention describes a system that facilitates payments and transactions by utilizing social background checks. The system leverages social networks, allowing individual members to communicate with a social authentication computing system. The authentication of transactions associated with financial institutions is determined through relationship measures based on social media interactions. The services available to users are influenced by their social identity, as assessed through social media platforms. By analyzing contact and interaction data from various social media platforms, the system evaluates the trust level of transactions, reducing the risk of fraudulent activity. Transactions deemed low-risk benefit from faster processing times and other enhancements.

Career Highlights

Edward P. Scholtens is currently employed at Wells Fargo Bank, N.A., where he applies his expertise in payment systems. His innovative approach has contributed to the development of secure and efficient transaction methods.

Collaborations

Edward has collaborated with notable coworkers, including Thomas E. Gross and Kimarie Pike Matthews, who share his commitment to advancing payment technologies.

Conclusion

Edward P. Scholtens is a pioneering inventor whose work in payment systems has the potential to transform transaction security and efficiency. His contributions are significant in the evolving landscape of financial technology.