Latest Patent Covers Risk-free Digital Banking Platform
Fullerton, CA, May 21, 2013: InterComputer Corporation announced today that the US Patent Office has issued it a new patent that covers the core technologies of an insured, risk-free digital banking platform.
The patent for invention number 8,380,622 covers secure electronic payments with reconcilable finality.
“This latest patent makes claims in connection with our technologies that enable the electronic exchange of money and high-value information in a risk-free, fully insured environment,” said Scott M. Volmar, President and CEO of InterComputer Corporation. “It complements the Australian patent issued in 2012 for our personal secure interface device.”
The patent covers a comprehensive electronic payment mechanism connecting a buyer, a seller, and their respective banks to routinely execute transactions in 15 seconds or less with legal finality and immediate funds availability. The system employs proprietary advanced electronic identity management, including both authorization and delegation functions, along with abuse prevention, abuse detection/management and continuous audit technologies.
“Our patented technologies, usable over a standard Internet connection, enable us to drive the residual risk in the system down to a minimal level where we are able to obtain underwritten insurance coverage to protect all parties against hacking, phishing, malware insertion or any other kind of cybercrime,” Volmar said. “This means that all users of insured InterComputer systems have loss damage recovery for the full face amount of the transaction, plus lost business, and even third party liability.”
Cybercrime is driving both commercial and consumer demand for truly safe electronic banking to unprecedented levels.
“Simply granting electronic access to legacy banking systems via inherently unsafe means, such as the https protocol, has not stopped cybercrime losses,” said Volmar. “Banks are scrambling to avoid liability while retaining customer satisfaction and loyalty. We think InterComputer’s fully insured digital banking platform will fully protect both banks and their customers while driving transaction costs down dramatically.”
About InterComputer Corporation
InterComputer Corporation develops and markets technology solutions that provide risk-free, Internet-based electronic transaction systems in multiple enterprise verticals (banking, healthcare, government agencies, etc.). InterComputer is a privately held Delaware corporation headquartered in Fullerton, CA.
Statement under the Private Securities Litigation Reform Act
With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to, product acceptance, the ability to continually obtained increased orders of its products, the ability to meet installation goals, economic, competitive, governmental impacts, whether pending patents will be granted or defendable, validity of intellectual property and patents, the ability to license patents, the ability to commercialize developmental products, as well as technological and/or other factors.