GBT’s AI Driven Financial Technology Patent Application Received a Notice of Publication

The patent application seeks to protect AI empowered technology for secured credit cards consolidation system

GBT Technologies received a notice of publication for its financial software patent application. The patent application seeks to protect a secured, AI driven, credit card consolidation and management system and method. The patent was filed on January 26, 2022 and assigned serial number 17584427. The application was published on October 20, 2022, as U.S. Patent Application Publication No. 2022/0335519. The invention consists of a web and mobile application that are based on GBT’s patented database management method and is machine learning driven.

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The IP includes a computer program that automatically characterizes and prioritizes the consolidation of different credit cards into one card, creating one large line of credit. An AI engine monitors and manages the credit card’s usage factors like line of credit, interest rate, benefits and reward programs. The protected software application combines all user’s credits cards accounts into one credit account, automatically assigning transactions to the best credit card according to its characteristics. The technology is based on GBT’s patented database sharing method with the goal of enabling high performance and robust cybersecurity. When a transaction is requested, the system will consider such factors as lowest interest rates, membership fees, cash advances, line of credit, gift certificates, and other reward programs. GBT targets the system to be an efficient financial assistant for individuals and businesses, ensuring best financial transactions using credit lines. The Company plans to expand its research and development efforts in this domain in the future.

“In today’s credit world there are numerous credit cards choices, each offers different interest rate, benefits, and wide variety of rewarding programs. It can become a challenge to decide which credit card to use to make a wise financial decision regarding line of credit, lowest interest rate and other benefits. The patent application seeks to protect an invention described as an AI controlled, credit card management system that automatically assists users with their credit card transaction decisions. The invention prioritizes the usage of user’s credit cards according to their characteristics. It learns about the card’s features and ranks them according to their financial attributes including available credit, interest rate and reward programs.

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Then it selects the best card to be used according to its rank, ensuring the user’s best financial interest. The system consolidates all user’s credit accounts into one line of credit and utilizes its AI algorithms to decide which one is to be used according to its best traits. GBT’s Artificial Intelligence technology is aimed to be used to empower the entire system and is working with GBT’s patented database management technology to ensure fast performance and robust security. The non-provisional patent application seeks to protect the concept of an intelligent line of credit management system to help users make the most beneficial decisions with their lines of credits. We consider this patent an exciting opportunity to implement our technology within the financial realm and intend to further explore its possibilities in the near future” stated Danny Rittman, GBT’s CTO.

There is no guarantee that the Company will be successful in researching, developing or implementing this system or that it will be granted the patent (or prior provisional patent). In order to successfully implement this system, the Company will need to raise adequate capital to support its research and, if successfully researched, developed and granted regulatory approval, the Company would need to enter into a strategic relationship with a third party that has experience in manufacturing, selling and distributing this product. There is no guarantee that the Company will be successful in any or all of these critical steps.