US Patent Issued to Bank of America on Feb. 24 for "System and method for authentication of a resource transfer target after resource allocation" (North Carolina Inventors)

ALEXANDRIA, Va., Feb. 24 -- United States Patent no. 12,561,677, issued on Feb. 24, was assigned to Bank of America Corp. (Charlotte, N.C.).

"System and method for authentication of a resource transfer target after resource allocation" was invented by Sanjay Arjun Lohar (Charlotte, N.C.), James J. Siekman (Charlotte, N.C.), Marabella Youkhaneh White (Charlotte, N.C.), Pamela Elizabeth Barnes (Waxhaw, N.C.) and Nicholas Stephen Rose (Charlotte, N.C.).

According to the abstract* released by the U.S. Patent & Trademark Office: "A system is provided for authentication of a resource transfer target after resource allocation. In particular, the system may generate a secure token associated with the target of the resource transfer as part of a r...