Deutsche Bank has been granted a patent for a method involving secure electronic transactions. The method includes accessing a list of preselected devices, presenting transaction details for approval, and completing the transaction only if all responses from approved devices are received within a dynamically determined time frame. GlobalData’s report on Deutsche Bank gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Deutsche Bank, Payment actuated vending was a key innovation area identified from patents. Deutsche Bank's grant share as of May 2024 was 77%. Grant share is based on the ratio of number of grants to total number of patents.
Secure method for authorizing electronic transactions using identity protection
A recently granted patent (Publication Number: US11972013B2) outlines a method for securely authorizing electronic transactions through an identity protection system. The method involves receiving a proposed transaction involving a user, accessing a list of preselected devices associated with the user, presenting the transaction and an approval option to each person using the devices, receiving responses, and completing the transaction if all responses approve within a dynamically determined time frame based on the transaction's security level. The predetermined time is influenced by factors such as the transaction value and type, ensuring a secure and efficient authorization process.
Furthermore, the patent details an identity protection system that implements the method described. This system includes processors that facilitate the receipt of proposed transactions, access to user-associated devices, presentation of transaction details and approval options, reception of responses, and finalization of transactions within a dynamically determined time frame based on security considerations. The system also allows for transaction cancelation in case of non-response or disapproval from any of the preselected devices, ensuring a comprehensive and secure authorization process tailored to the specific attributes of each transaction.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
