ALEXANDRIA, Va., Nov. 25 -- United States Patent no. 12,481,976, issued on Nov. 25, was assigned to TRUIST BANK (Charlotte, N.C.).
"Encoded transfer instruments" was invented by Barath Jayaraman (Fort Mill, S.C.).
According to the abstract* released by the U.S. Patent & Trademark Office: "Disclosed are systems and methods for generating encoded instruments that implement electronic transfers. The system converts instruments to an electronic format using an imaging source or optical code detection device. The image data is processed to decode encoded components of the image data and to determine content elements and segments of the electronic transfer instrument and to extract transfer data. The transfer data is validated to facilitate sec...