Systems and methods for maintaining pooled time-dependent resources in a multilateral distributed register

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United States of America Patent

PATENT NO 11734069
APP PUB NO 20230056259A1
SERIAL NO

17976183

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Abstract

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The present disclosure is directed to a novel system for using a distributed register to generate, manage, and store data for interest-pooled time deposit resource accounts. The invention leverages a pooled resource account approach, allowing for multiple disparate resource accounts to benefit from an enhanced interest return by pooling resource accounts. The system components of the invention contemplate the use of distributed register technology to provide a verified ledger of information related to one or more resource accounts, as well as store system data, user data, and metadata related to the movement and management of resources. By using a distributed register approach to store and verify data related to time-dependent resource account services, the invention provides an automated system and methods for enhancing the flow of sensitive verified information, reducing the need for manual review and increasing the speed at which various resource account services can be validated and executed.

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Patent Owner(s)

  • BANK OF AMERICA CORPORATION

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Inventor(s)

Inventor Name Address # of filed Patents Total Citations
Castagna, Brandon Matthew Mount Holly, US 18 566
Mulani, Rajesh Singapore, SG 2 2
Nayak, Anand Ramachandra Singapore, SG 2 2
Vijapur, Vinod Sengkang, SG 2 2

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