Walter Schenk

Title: Walter Schenk: Innovator in Financial Technology

Introduction

Walter Schenk is a distinguished inventor based in San Francisco, CA, known for his significant contributions to the field of financial technology. With a total of three patents to his name, Schenk specializes in developing innovative systems and methods that enhance access to financial accounts for customers of financial institutions.

Latest Patents

Among his notable inventions is the patent titled "Break the Glass for Financial Access - Systems, methods, and computer-readable storage media utilized for revoking access to a financial account held by a customer of a financial institution." This method involves determining an access level based on account database information and any adverse event a customer may have experienced. The system authorizes a designee to manage future payment requests and sends alerts corresponding to the authorization, ensuring that customers maintain control over their financial accounts.

Another prominent patent by Schenk is "Break the Glass for Financial Access - Systems, methods, and computer-readable storage media utilized for determining access to a financial account held by a customer of a financial institution." This innovative method establishes a communication session with a sensor device, allowing the continuous receipt of sensor data. The system retrieves device data from a user device, analyzes it along with sensor data to determine if a customer has faced an adverse event, and then automatically decides the appropriate access level for transactions.

Career Highlights

Walter Schenk’s career is highlighted by his role at Wells Fargo Bank, N.A., where he has been able to apply his inventive skills to improve financial systems. His focus on enhancing customer security and access to financial services underscores the importance of innovation in the banking sector.

Collaborations

In his professional journey, Schenk collaborates with esteemed colleagues including Wayne Barakat and Maria M Benjamin. Their collective expertise and teamwork foster an environment of creativity and advancement within the financial technology landscape.

Conclusion

Walter Schenk exemplifies the spirit of innovation in the realm of financial technology. With multiple patents that contribute to improving access to financial services, he plays a pivotal role in shaping the future of banking. As he continues to develop groundbreaking solutions, his work set to influence how financial institutions interact with their customers and enhance security measures.