MUMBAI, India, Feb. 27 -- Intellectual Property India has published a patent application (202641019390 A) filed by K V S N Jawahar Babu; Roopa Ajwal; Mrs. Rachana D; Smt. Nivritti James; Modika Gupta; Priti. S. Sawale; Dr. Smruti Abhijit Salunke; Dr. Riyaz Ahmed Qureshi; Dr. Monica Nirolia; and Ms. Shubhangi Anandrao Bhaladhare, Nellore, Andhra Pradesh, on Feb. 19, for 'impact of digital banking on financial inclusion in developing economies.'
Inventor(s) include K V Sjawahar Babu; Roopa Ajwal; Mrs. Rachana D; Smt. Nivritti James; Modika Gupta; Priti. S. Sawale; Dr. Smruti Abhijit Salunke; Dr. Riyaz Ahmed Qureshi; Dr. Monica Nirolia; and Ms. Shubhangi Anandrao Bhaladhare.
The application for the patent was published on Feb. 27, under issue no. 09/2026.
According to the abstract released by the Intellectual Property India: "A digital banking system and method for enhancing financial inclusion in developing economies is disclosed. The invention comprises a mobile banking access module optimized for low bandwidth environments, a digital identity authentication module enabling biometric and electronic verification, an alternative data analytics engine for credit assessment using non -traditional financial indicators, a financial services orchestration layer ensuring interoperability among financial institutions and government platforms, and a regulatory compliance engine for monitoring and enforcing jurisdiction specific requirements. The system further incorporates security and fraud detection mechanisms including encryption, anomaly detection, and multi factor authentication. By enabling secure onboarding, dynamic credit scoring, interoperable service delivery, and access to savings, remittance, insurance, and government benefit programs, the invention expands financial access to unbanked and underbanked populations while ensuring scalability, transparency, and regulatory compliance."
Disclaimer: Curated by HT Syndication.
