US Patent Issued to Bolt Financial on Dec. 9 for "Repurposing a transaction authorization channel to provide fraud notifications" (Utah, California Inventors)

ALEXANDRIA, Va., Dec. 9 -- United States Patent no. 12,493,887, issued on Dec. 9, was assigned to Bolt Financial Inc. (San Francisco).

"Repurposing a transaction authorization channel to provide fraud notifications" was invented by Pantelis Miltos Kledaras (Saratoga Springs, Utah) and Akshaya Srivatsa (Foster City, Calif.).

According to the abstract* released by the U.S. Patent & Trademark Office: "A method for sending a notification indicating fraud using a transaction authorization channel is described. Upon performing a fraud analysis on a first transaction previously authorized by an issuer of an account via the transaction authorization channel, a determination that the first transaction has indications of fraud is performed. In resp...