Company Filing History:
Years Active: 1999-2002
Title: Michael Occhino: Innovator in Electronic Statement Presentment
Introduction
Michael Occhino is a notable inventor based in Castro Valley, CA (US). He has made significant contributions to the field of electronic statement presentment, holding 2 patents that enhance the efficiency of billing processes.
Latest Patents
One of his latest patents is the Electronic Statement Presentment (ESP) system. This innovative system replaces the traditional preparation and mailing of paper statements and invoices with electronic delivery. The electronic statements maintain the same appearance as paper statements while incorporating multimedia elements such as video, audio, graphics, and custom enclosures. The ESP system segments statements into mandatory and optional components to minimize download time. It operates independently or enhances existing electronic bill payment systems. A central switch computer coordinates template storage, validation, routing, and message passing between billers, workstations, and consumer financial institutions (CFI). The system includes a template authoring workstation (TAWS) that creates a template of static biller information, which is stored in a template library at the switch. The switch validates the template by sending it to a template validation workstation (TVAL). Batches of customer statement data are sent from a biller's legacy invoicing system to a statement origination workstation (SORG) along with a template identifier. The switch sends the template to the SORG, where customer data is validated against the identified template. The sorted batches are routed to the appropriate statement generation workstation (SGEN), which generates electronic statements for each customer.
Career Highlights
Michael Occhino works at Visa International Service Association, where he applies his expertise in electronic billing solutions. His work has significantly improved the efficiency and effectiveness of statement delivery systems.
Collaborations
Some of his notable coworkers include Ray Kolling and Jeffrey D Roughgarden, who contribute to the innovative environment at Visa.
Conclusion
Michael Occhino's contributions to electronic statement presentment demonstrate his commitment to innovation in the financial technology sector. His patents reflect a forward-thinking approach that enhances the way consumers receive and interact with their financial statements.