Keith W Luke

Title: Innovations by Keith W. Luke

Introduction

Keith W. Luke is an accomplished inventor based in New Canaan, CT. He has made significant contributions to the field of online transactional services, particularly through his innovative patent work. With a total of 2 patents, Luke has developed systems that enhance the efficiency and security of online purchases.

Latest Patents

One of his latest patents is a "System and method for a risk-based purchase of goods." This invention provides a framework for enabling online transactional services among sellers and buyers who have no previous relationship. The system includes a financial clearinghouse that receives requests for goods or services from buyers and makes real-time determinations of the buyer's risk classification using an online repository of credit information. The financial clearinghouse calculates a risk-based discount fee based on the buyer's risk classification to establish a payment amount to the seller. If the transaction is authorized, the clearinghouse transmits the payment to the seller and sends an invoice to the buyer for the purchase price. This system also includes a broker that facilitates online order acceptance and processing between buyers and sellers.

Career Highlights

Keith W. Luke is currently employed at Citibank, N.A., where he continues to innovate in the financial technology sector. His work focuses on improving transactional processes and enhancing user experiences in online commerce.

Collaborations

Luke collaborates with notable colleagues, including Maria M. Mandler and Ann P. McLaughlin, who contribute to his projects and innovations.

Conclusion

Keith W. Luke's contributions to online transactional services through his patents demonstrate his commitment to innovation in the financial technology industry. His work not only enhances the efficiency of online purchases but also ensures a secure transaction environment for buyers and sellers alike.