This inventor holds 2 USPTO granted patents. Top assignees: Citibank, N.a., Citicorp Development Center, Inc.. Active years: 1997-1998.
Company Filing History:
Years Active: 1997-1998
Title: Virendrakumar Shah: Innovator in Automated Fund Transfer Systems
Introduction
Virendrakumar Shah is a notable inventor based in La Palma, California. He has made significant contributions to the field of automated financial transactions, holding 2 patents that enhance the efficiency and security of fund transfers.
Latest Patents
Shah's latest patents focus on a customer-directed, automated process for transferring funds. This innovative system allows for instant fund transfers to an account, ensuring that the funds are available to the beneficiary at the time they are sent. The system automatically accesses customer information, eliminating the need for manual entry. It computes the appropriate exchange rate and any applicable fees, displaying this information to the user for authorization or cancellation of the transaction. Additionally, the system analyzes transfer parameters to ensure compliance with government regulations. It offers users the flexibility to quantify the amount to be transferred in either the originating or receiving account's currency. Designed for ease of use, the system is accessible to individuals without specialized knowledge in computers or wire transfers. Various safeguards are implemented to ensure that only authorized individuals can access accounts and funds, with immediate verification of transaction success or failure provided to the customer.
Career Highlights
Throughout his career, Virendrakumar Shah has worked with prominent financial institutions, including Citibank and Citicorp Development Center, Inc. His experience in these organizations has contributed to his expertise in developing innovative financial solutions.
Collaborations
Shah has collaborated with notable professionals in the industry, including Horton W. Jennings and Nigel Pinnell. These collaborations have further enriched his work and contributed to the development of his patented systems.
Conclusion
Virendrakumar Shah's contributions to automated fund transfer systems demonstrate his commitment to innovation in the financial sector. His patents reflect a deep understanding of customer needs and regulatory requirements, making financial transactions more accessible and secure for users.