Bank of America Corporation

Wells Fargo Bank, N.a.

Mayur Chheda

Matthew Shepherd

Sean Zhang

Kurt Paul Stevens

June Ann Wroblewski

Luiz Fernando Flor Da Silva

Jeffrey Addison Grant

Debashis Ghosh

Kurt Newman

David Joa

Timothy J Bendel

Michael James O'Hagan

John Marshall McKeever, Sr

Thomas Steven Helock

Scott Christopher Arcure

John Marshall McKeever

Systems and methods relating to a distributed ledger-based payment rail are provided. A computer-implemented method includes determining whether a sending financial institution of a sender of a funds transfer and a receiving financial institution of a recipient of the funds transfer each operates a node on a permissioned distributed ledger network. The method further includes routing a funds transfer request message to the permissioned distributed ledger network in response to determining that the sending financial institution and the receiving financial institution each operates a node on the permissioned distributed ledger network. The method further includes destroying, by an issuer, the cash states in response to the recipient redeeming cash states associated with the funds transfer.

Systems and methods for cross-border payments via distributed ledger-based payment rail

Systems and method relating to a distributed ledger currency rail are provided. A computer-implemented method includes receiving a funds transfer request message including an amount, a sender, and a recipient; examining the funds transfer request message to identify a sending financial institution associated with the sender and a receiving financial institution associated with the recipient; and determining whether the sending financial institution and the receiving financial institution each operates a node on a permissioned distributed ledger network. The method further includes, in response to determining that the sending financial institution and the receiving financial institution each operates a node on the permissioned distributed ledger network, routing the funds transfer request message to the permissioned distributed ledger network so as to facilitate the funds transfer via digital cash states issued to the sending financial institution and the receiving financial institution in exchange for fiat currency cash.

Systems and methods for biometrically identifying an individual for purchasing a product and/or service without a need for the individual to input authentication data into a system/device are described. Data representative of a scanned iris of a customer desiring to make a purchase may be made. The customer may be identified based upon the scanned iris. A determination may be made as to whether the identified customer has a plurality of accounts at a financial entity. Information of a selected account to make the purchase may be received. Sufficient funds in the selected account to make the purchase may be determined. If insufficient, a different account may be identified to make the purchase. Sufficient funds in the different accounts may be determined and funds in the different accounts may be decreased by the associated payment amount.

Authentication systems, operations, processing, and interactions

Embodiments of the present disclosure are directed to methods, systems and computer program products for facilitating a business relationship between a customer and at least one provider. The methods, systems and computer program products allow for a system for conducting business transactions and/or facilitating business relationships wholly electronically via an e-vault system. The e-vault system provides at least one interface for one or more client systems to upload data to and from an storage system via a network.

Business transaction facilitation system

Loan requests may be automatically processed for approval and fulfillment by a distributed processing system. The processing system receives loan requests and determines whether the loan should be approved and, if needed, request supplemental loan information from vendor systems. The processing system may further perform due diligence, generate closing documents and board loans. Exceptions may be detected and handled manually if necessary; once work on exceptions are complete, the remainder of loan processing may be completed automatically. In some configurations, a loan request or tasks thereof may be transferred from a processing system at a first processing center to a second processing center to continue processing in response to a predefined event. The first and second processing centers may be located in different time zones. Additionally, the processing system may provide a simulation environment for evaluating process models prior to implementation in a live processing environment.

System and method for processing loans

Growing community of inventors

Charlotte, NC, United States of America

Mayur Chheda