Company Filing History:
Years Active: 2013
Title: William A. Schauer: Innovator in Financial Automation
Introduction
William A. Schauer is an accomplished inventor based in Preston, MD (US). He has made significant contributions to the field of financial technology, particularly in automating processes for financial institutions. His innovative work has led to the development of a patent that enhances the efficiency of client decision-making in financial transactions.
Latest Patents
William A. Schauer holds a patent for "Systems, methods and computer program products for automating financial institution client positive pay return decisions." This patent focuses on automating the processing of positive pay return decisions, which are crucial for financial clients when determining whether to authorize the return of a pay item, such as a check. The automated system streamlines the process by deleting pay status from a service management system, creating a credit transaction for the appropriate demand deposit account, and generating a return file that identifies the item and the reason for its return. This innovation significantly reduces the risk of fraud and enhances operational efficiency.
Career Highlights
William A. Schauer is currently employed at Bank of America Corporation, where he applies his expertise in financial technology. His work at the bank has allowed him to contribute to the development of systems that improve client interactions and decision-making processes. His dedication to innovation in the financial sector has positioned him as a valuable asset to his organization.
Collaborations
Throughout his career, William has collaborated with notable colleagues, including Deborah A. Copes and Debra R. Murphy. These partnerships have fostered a collaborative environment that encourages the exchange of ideas and the development of cutting-edge solutions in financial technology.
Conclusion
William A. Schauer's contributions to the field of financial automation exemplify the impact of innovation on improving client services in financial institutions. His patent and work at Bank of America Corporation highlight his commitment to enhancing operational efficiency and reducing fraud in financial transactions.