Company Filing History:
Years Active: 2013-2019
Title: Elbert Lee Whitler: Innovator in Transaction Cost Recovery
Introduction: Elbert Lee Whitler is a distinguished inventor based in Webster Groves, MO, known for his significant contributions to the field of transaction cost recovery. With a total of 9 patents to his name, Whitler's innovations have aimed to enhance financial transactions and improve efficiencies in banking processes.
Latest Patents: Whitler's latest patents include groundbreaking inventions focused on optimizing transaction cost recovery. One notable patent discusses apparatus and methods for determining a surcharge yield by monitoring surcharge behavior and performance metrics over time. This innovative approach allows for the assessment of the relationship between different performance metrics and surcharge behaviors, ultimately determining an effective surcharge yield.
Another of his recent patents addresses adjusting a transaction cost recovery amount by monitoring changes in transaction volume associated with merchant locations. It proposes a method in which adjustments are made when a threshold rate of change is detected, thereby ensuring that transaction cost recovery aligns with real-time data.
Additionally, Whitler has developed a service for exceeding account thresholds via transaction machines. This invention provides a streamlined method for customers to consent to exceeding account limits during transactions, enhancing customer experience while ensuring proper authorization.
Career Highlights: Elbert Lee Whitler is currently employed at Bank of America Corporation, where he utilizes his expertise to drive innovation in financial technology. His work has significantly impacted how financial institutions handle transaction costs, resulting in more efficient service delivery to customers.
Collaborations: Throughout his career, Whitler has collaborated with notable colleagues, including Tamara S. Kingston and John Tuders. Their combined efforts in research and development have brought forth advancements that benefit the banking industry.
Conclusion: Elbert Lee Whitler stands out as a proactive inventor in the sphere of financial technology. His innovative patents promise to reshape transaction processing and customer interactions within financial institutions. Whitler's dedication to improving transaction cost recovery will undoubtedly leave a lasting impact on how banking transactions are conducted.
Inventor’s Patent Attorneys refers to legal professionals with specialized expertise in representing inventors throughout the patent process. These attorneys assist inventors in navigating the complexities of patent law, including filing patent applications, conducting patent searches, and protecting intellectual property rights. They play a crucial role in helping inventors secure patents for their innovative creations.