Invention Grant
- Patent Title: Business-to-business netting
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Application No.: US16261296Application Date: 2019-01-29
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Publication No.: US11216813B1Publication Date: 2022-01-04
- Inventor: Joseph Gregory Delong , Steven James Schroeder , Jonathan Huntington Rhea , Alexander Benetto Nagelberg
- Applicant: United Services Automobile Association (USAA)
- Applicant Address: US TX San Antonio
- Assignee: United Services Automobile Association (USAA)
- Current Assignee: United Services Automobile Association (USAA)
- Current Assignee Address: US TX San Antonio
- Agency: Fletcher Yoder, PC
- Main IPC: G06Q20/40
- IPC: G06Q20/40 ; G06Q30/08 ; G06Q40/08 ; H04L12/14 ; G06F9/46

Abstract:
Systems and methods for performing netting of business-to-business payments for settlement of running balances between parties are provided. To that end, blockchain infrastructures allow smart contracts that may be suitable for subrogation and netting operations, and the smart contracts that facilitate the operations. Application-programming interfaces (APIs) are provided that may be used to interact with the smart contracts.
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