Thomas R Miller

Title: Innovations by Thomas R. Miller

Introduction

Thomas R. Miller is an accomplished inventor based in Levittown, Pennsylvania. He has made significant contributions to the field of financial technology, particularly in the area of real-time payment systems. With two patents to his name, Miller is recognized for his innovative approaches to enhancing transaction efficiency and security.

Latest Patents

Miller's latest patents focus on systems and methods for real-time trickle payments. The first patent describes a system that includes a processing circuit designed to receive requests from consumer devices to commission services from suppliers. This system places a financial hold on funds allocated to a supplier's financial account based on the performance terms of a smart contract. It monitors the initiation of service performance and adjusts financial holds in real-time based on the monitored performance. Upon completion of the service, the funds on hold are released to the supplier's account.

The second patent outlines a computer-implemented method performed by an access economy payment system. This method involves generating a smart contract based on a requested access economy service and creating sub-accounts for both consumers and suppliers. It allocates funds to the supplier sub-account and places a financial hold on these funds. The method also monitors service performance and adjusts financial holds accordingly, ensuring a seamless transaction process.

Career Highlights

Thomas R. Miller is currently employed at Wells Fargo Bank, N.A., where he applies his expertise in financial technology to develop innovative payment solutions. His work at the bank has allowed him to collaborate with other talented professionals in the industry, further enhancing his contributions to the field.

Collaborations

Miller has worked alongside notable colleagues such as Eileen Johnstone and Michael Knorr. Their collaborative efforts have contributed to the development of advanced financial systems that benefit consumers and suppliers alike.

Conclusion

Thomas R. Miller's innovative work in real-time payment systems showcases his commitment to improving financial transactions. His patents reflect a deep understanding of technology and its application in the financial sector. Through his career at Wells Fargo Bank, he continues to make strides in enhancing payment efficiency and security.