Resource distribution hub generation on a mobile device

Patent metadata

Field	Value
Publication number	US-11234235-B2
Application number	US-201916399874-A
Country	US
Kind code	B2
Filing date	Apr 30, 2019
Priority date	Apr 30, 2019
Publication date	Jan 25, 2022
Grant date	Jan 25, 2022

Abstract

Embodiments of the present invention provide systems, apparatus, methods and/or the like for generating a resource distribution hub using for fully electronic resource distribution by using mobile device application designed to interface with an embedded Near-Field Communication (NFC) tag in a resource distribution instrument that stores instructions for processing the resource distribution authorization information. The holder (i.e., resource provider) of the resource distribution instrument can use the resource distribution instrument to communicate to a mobile communication device having an NFC reader to read the instructions and process a resource distribution according to the parameters of the mobile device application. As such, the holder (i.e., resource provider) of the resource distribution request can process the resource distribution without having to issue a credentials, aliases, pin codes, and the like conventionally used to authorizes the distribution of resources to the resource requester.

First claim

What is claimed is:

1. A system for resource distribution hub generation on a mobile device, the system comprising:
a memory device; and
a processing device operatively coupled to the memory device, wherein the processing device is configured to execute computer-readable program code to:
provide a mobile application on a mobile device for retrieving, storing, and accessing resource distribution parameters, wherein the resource distribution parameters comprise product identification information, product pricing information, resource distribution amounts, and resource account information;
receive instructions for a resource distribution via the mobile application on the mobile device;
generate a communicable linkage between the mobile application and a third party system and access a database of updated product information, pricing information, resource distribution information, and account information via the communicable linkage, wherein the updated product information, pricing information, resource distribution information, and account information are stored on the third party system;
determine a resource distribution amount based on the resource distribution parameters or the updated product information, pricing information, resource distribution information, and account information;
activate a near field communication transmitter on the mobile device to initiate a near field communication;
generate a communicable linkage via the near field communication between the mobile device and a resource distribution instrument, with an embedded near field communication tag;
receive resource distribution credentials from the resource distribution instrument via the near field communication transmitter on the mobile device;
authenticate the resource distribution credentials; and
initiate a request for resource distribution for the resource distribution amount.

2. The system of claim 1 , wherein authenticating the resource distribution credentials further comprises verifying a resource account associated with the resource distribution credentials.

3. The system of claim 1 , wherein authenticating the resource distribution credentials further comprises:
transmitting the resource distribution credentials to an entity; and
receiving, from the entity, confirmation of a resource account and real-time approval of the request for resource distribution.

4. The system of claim 3 , further configured to:
receive an email address associated with the confirmed resource account; and
generate and transmit a verification message to the email address containing details of the resource distribution.

5. The system of claim 1 , further configured to tokenize the resource distribution credentials received from the resource distribution instrument.

6. The system of claim 5 , wherein authenticating the resource distribution credentials further comprises:
transmitting, via the mobile device, the tokenized resource distribution credentials to an entity; and
receiving, via the mobile device, a one-time authorization from the entity for the resource distribution amount based on the tokenized resource distribution credentials.

7. The system of claim 5 , wherein tokenizing the resource distribution credentials further comprises:
encrypting the resource distribution credentials via the mobile device;
transmitting, via the mobile device, the encrypted resource distribution credentials to an entity for tokenization; and
receiving the tokenized resource distribution credentials from the entity.

8. A computer program product for resource distribution hub generation on a mobile device, the computer program product comprising at least one non-transitory computer-readable medium having computer-readable program code portions embodied therein, the computer-readable program code portions comprising:
an executable portion configured for providing a mobile application on a mobile device for retrieving, storing, and accessing resource distribution parameters, wherein the resource distribution parameters comprise product identification information, product pricing information, resource distribution amounts, and resource account information;
an executable portion configured for receiving instructions for a resource distribution via the mobile application on the mobile device;
an executable portion configured for generating a communicable linkage between the mobile application and a third party system and access a database of updated product information, pricing information, resource distribution information, and account information via the communicable linkage, wherein the updated product information, pricing information, resource distribution information, and account information are stored on the third party system;
an executable portion configured for determining a resource distribution amount based on the resource distribution parameters or the updated product information, pricing information, resource distribution information, and account information;
an executable portion configured for activating a near field communication transmitter on the mobile device to initiate a near field communication;
an executable portion configured for generating a communicable linkage via the near field communication between the mobile device and a resource distribution instrument, with an embedded near field communication tag;
an executable portion configured for receiving resource distribution credentials from the resource distribution instrument via the near field communication transmitter on the mobile device;
an executable portion configured for authenticating the resource distribution credentials; and
an executable portion configured for initiating a request for resource distribution for the resource distribution amount.

9. The computer program product of claim 8 , wherein authenticating the resource distribution credentials further comprises verifying a resource account associated with the resource distribution credentials.

10. The computer program product of claim 8 , wherein authenticating the resource distribution credentials further comprises:
transmitting the resource distribution credentials to an entity; and
receiving, from the entity, confirmation of a resource account and real-time approval of the request for resource distribution.

11. The computer program product of claim 10 , further configured to:
receive an email address associated with the confirmed resource account; and
generate and transmit a verification message to the email address containing details of the resource distribution.

12. The computer program product of claim 8 , further configured to tokenize the resource distribution credentials received from the resource distribution instrument.

13. The computer program product of claim 12 , wherein authenticating the resource distribution credentials further comprises:
transmitting, via the mobile device, the tokenized resource distribution credentials to an entity; and
receiving, via the mobile device, a one-time authorization from the entity for the resource distribution amount based on the tokenized resource distribution credentials.

14. The computer program product of claim 12 , wherein tokenizing the resource distribution credentials further comprises:
encrypting the resource distribution credentials via the mobile device;
transmitting, via the mobile device, the encrypted resource distribution credentials to an entity for tokenization; and
receiving the tokenized resource distribution credentials from the entity.

15. A computer-implemented method for resource distribution hub generation on a mobile d

Assignees

• Bank Of America

Inventors

• Mcconnell Patrick Thomas
• Burks William Bradley
• Doherty Daniel James
• Dupont Justin Riley
• Elliott Thomas
• England Tony
• Murphy Matthew
• Parker Nickolas Patrick
• Selfridge Stephen Philip
• Twombly Steven Michael
• Williams James J

Classifications

• G06F9/5011

  the resources being hardware resources other than CPUs, Servers and Terminals · CPC title

• H04W4/80 Primary

  Services using short range communication, e.g. near-field communication [NFC], radio-frequency identification [RFID] or low energy communication · CPC title

• G06Q20/367

  involving electronic purses or money safes · CPC title

• G06Q20/3278

  RFID or NFC payments by means of M-devices · CPC title

• H04W12/068

  using credential vaults, e.g. password manager applications or one time password [OTP] applications · CPC title