Company Filing History:
Years Active: 2007-2011
Title: Innovations by Lance Pate
Introduction
Lance Pate is an accomplished inventor based in Victoria, TX (US). He has made significant contributions to the field of financial transaction security through his innovative patents. With a total of 6 patents to his name, Pate has developed systems that enhance the safety and reliability of cashing checks and other negotiable instruments.
Latest Patents
One of Lance Pate's latest patents is titled "Systems and methods for assessing the risk of a financial transaction using authenticating marks." This invention describes methods for better assessing the risk associated with cashing second-party checks. The system utilizes information about authenticating marks, such as watermarks and bar codes, to evaluate the legitimacy of a check. By comparing this information to stored data, a gradated risk score can be generated, which may inform an accept or decline recommendation for the transaction.
Another notable patent is "Systems and methods for identifying payor location based on transaction data." This invention focuses on building a repository of information about payors of second-party checks. It uses data from checks to determine the location of the payor, which can help assess the proximity between the payor and the check-cashing entity. This system enhances the ability to verify the authenticity of checks presented for cashing.
Career Highlights
Lance Pate is currently employed at First Data Corporation, where he continues to innovate in the financial technology sector. His work has been instrumental in developing systems that improve the security and efficiency of financial transactions.
Collaborations
Throughout his career, Lance has collaborated with notable colleagues, including Amy L Swift and Mark S Wallin. These partnerships have contributed to the advancement of his innovative projects and patents.
Conclusion
Lance Pate's contributions to the field of financial transaction security through his patents demonstrate his commitment to innovation. His work not only enhances the safety of financial transactions but also showcases the importance of technology in the evolving landscape of finance.
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.