US Patent Issued to Bank of Montreal on Sept. 29 for "System and process for electronic payments" (Canadian Inventors)

ALEXANDRIA, Va., Sept. 30 -- United States Patent no. 12,749,059, issued on Sept. 29, was assigned to Bank of Montreal (Toronto).

"System and process for electronic payments" was invented by Brian Chan (Toronto), Kashif Arshad (Toronto), Peter Hing-Cheong Poon (Toronto) and Vikram Pal (Toronto).

According to the abstract* released by the U.S. Patent & Trademark Office: "A platform and process for electronic payment processing using electronic communications from different communication channels or bands. The system and process can generate alerts using fraud detection and verify payment requests using historical data and pattern recognition. The system and process can categorize images and extract payment data."

The patent was filed on J...