US Patent Issued to Wells Fargo Bank on May 20 for "International remittances via intrabank transfers" (Indian Inventors)

ALEXANDRIA, Va., June 16 -- United States Patent no. 12,307,426, issued on May 20, was assigned to Wells Fargo Bank N.A. (San Francisco).

"International remittances via intrabank transfers" was invented by Atiraj Kumar (Hyderabad, India) and Gaurav Wadhwa (Maharashtra, India).

According to the abstract* released by the U.S. Patent & Trademark Office: "Aspects for international remittances are disclosed herein. A sender initiates a request to remit funds to a recipient. The sender has an account with a first financial institution and the recipient has an account with a second financial institution. The request is communicated to specific bidders that have accounts with both the first and second financial institutions. The bidders submit bi...