Patents by Inventor Stephen P. Hanten

Stephen P. Hanten has filed for patents to protect the following inventions. This listing includes patent applications that are pending as well as patents that have already been granted by the United States Patent and Trademark Office (USPTO).

  • ACH payment processing
    Patent number: 9858553
    Abstract: Efficiently processing ACH payments by processing batches of ACH payments in parallel. A processing system of an ACH operator receives an ACH file including multiple batches of ACH items. Each batch includes at least one ACH item. A control module of the processing system organizes data in the ACH file into multiple partitions according to a selected strategy. Each partition includes at least one of the batches. A processing module of the processing system separately processes each partition in parallel, validating the batches and ACH items and creating at least one output batch for each partition. If the control module determines that the ACH file is acceptable, based on this parallel processing, then the processing module settles the ACH items in the output batches and creates at least one new ACH file for transmitting the settled ACH items to one or more corresponding receiving depository financial institutions.
    Type: Grant
    Filed: December 18, 2014
    Date of Patent: January 2, 2018
    Assignee: Federal Reserve Bank of Minneapolis
    Inventors: Peter A. Davis, Keith Pierce, Stephen P. Hanten, Erik Tennant, Jennifer Larson
  • ACH PAYMENT PROCESSING
    Publication number: 20150235186
    Abstract: Efficiently processing ACH payments by processing batches of ACH payments in parallel. A processing system of an ACH operator receives an ACH file including multiple batches of ACH items. Each batch includes at least one ACH item. A control module of the processing system organizes data in the ACH file into multiple partitions according to a selected strategy. Each partition includes at least one of the batches. A processing module of the processing system separately processes each partition in parallel, validating the batches and ACH items and creating at least one output batch for each partition. If the control module determines that the ACH file is acceptable, based on this parallel processing, then the processing module settles the ACH items in the output batches and creates at least one new ACH file for transmitting the settled ACH items to one or more corresponding receiving depository financial institutions.
    Type: Application
    Filed: December 18, 2014
    Publication date: August 20, 2015
    Inventors: Peter A. Davis, Keith Pierce, Stephen P. Hanten, Erik Tennant, Jennifer Larson
  • ACH Payment Processing
    Publication number: 20090281946
    Abstract: Efficiently processing ACH payments by processing batches of ACH payments in parallel. A processing system of an ACH operator receives an ACH file including multiple batches of ACH items. Each batch includes at least one ACH item. A control module of the processing system organizes data in the ACH file into multiple partitions according to a selected strategy. Each partition includes at least one of the batches. A processing module of the processing system separately processes each partition in parallel, validating the batches and ACH items and creating at least one output batch for each partition. If the control module determines that the ACH file is acceptable, based on this parallel processing, then the processing module settles the ACH items in the output batches and creates at least one new ACH file for transmitting the settled ACH items to one or more corresponding receiving depository financial institutions.
    Type: Application
    Filed: May 12, 2008
    Publication date: November 12, 2009
    Inventors: Peter A. Davis, Keith Pierce, Stephen P. Hanten, Erik Tennant, Jennifer Larson