Integrated financial services platform and method of use
Patent Information
- Application Number
- JP2024547674
- Authority / Receiving Office
- JP · JP
- Patent Type
- Applications
- Current Assignee / Owner
- Priority Date
- 2022-02-14
- Filing Date
- 2023-02-13
- Publication Date
- 2026-02-19
AI Technical Summary
【0048】 [48]本開示の新規な特徴は、添付の特許請求の範囲に詳細に記載されている。本開示の特徴及び利点のさらなる理解は、例示的な実施形態を説明する以下の詳細な説明及び添付の図面(本明細書では「Figure」及び「FIG」ともいう)を参照することによって得られるであろう。
Smart Images
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Abstract
Description
[Technical field]
[0001] cross reference [5] This application claims the benefit of U.S. Provisional Application No. 63 / 310,053, filed February 14, 2022, which is incorporated by reference in its entirety. [Background technology]
[0002] [2] Traditional banking systems facilitate transactions through the transfer of fiat currencies. These banking systems use transaction and payment rails built on fiat currencies. Traditional banking systems use internal ledgers to account for the balances of each user's account. Such internal ledgers are subject to external threats and must implement safeguards that increase the cost and time of transactions between accounts that use these ledger systems. Transfers of fiat currencies from one account to another are prone to fraud, delays, and transaction costs. Summary of the Invention [Problem to be solved by the invention]
[0003] [3] This disclosure relates to a system and method for blockchain-based financial transactions. Blockchain-assisted financial transactions are more secure than traditional fiat currency transactions. Blockchain transactions are more efficient in costs associated with transactions. Blockchain-based financial transactions can offer more flexibility and customizability than traditional financial systems. [Means for solving the problem]
[0004] [4] An integrated financial services platform comprising: multiple rails based on or built on a blockchain, the multiple rails configured to enable multiple financial transactions, including credit transfers, remittances, debits, purchase financing, or point of sale loans, between multiple parties; and an application for implementing the multiple rails, the application executable on multiple devices and comprising a graphical user interface for facilitating financial transactions between the multiple parties, at least one of the financial transactions being completed through the use of a visual code indicating or representing a transaction amount or settlement between a first party and a second party.
[0005] [5] In some embodiments, the application is a mobile application (app) or web-based.
[0006] [6] In some embodiments, the application is configurable or customizable by or for one or more businesses or financial institutions.
[0007] [7] In some embodiments, the first party is a retailer or service provider and the second party is a consumer.
[0008] [8] In some embodiments, the first party and the second party are individual end users of the platform.
[0009] [9] In some embodiments, the visual code comprises a two-dimensional code.
[0010]
[10] In some embodiments, the two-dimensional code includes a Quick Response (QR) code.
[0011]
[11] In some embodiments, the visual code is associated with an invoice from the retailer or service provider to the consumer.
[0012]
[12] In some embodiments, the application is configured to generate a visual code for a first party, which is then displayed or transmitted by the first party to a second party.
[0013]
[13] In some embodiments, the application is configured to allow a first party to send the visual code to a second party via text message or email.
[0014]
[14] In some embodiments, at least one financial transaction is completed or settled substantially in real time when a second party uses the device to scan or process the visual code.
[0015]
[15] In some embodiments, the transaction amount is reflected in the first party's account in substantially real time upon completion or settlement of the at least one financial transaction.
[0016]
[16] In some embodiments, the transaction amount is reflected in the first party's account in less than 48 hours.
[0017]
[17] In some embodiments, the transaction amount is reflected in the first party's account in less than one minute.
[0018]
[18] In some embodiments, the visual code includes metadata about the first party, the nature of the at least one financial transaction, and a timestamp.
[0019]
[19] In some embodiments, the visual code further includes metadata regarding the second party.
[0020]
[20] In some embodiments, the visual code is unique only to the second party such that at least one financial transaction cannot be completed if the visual code is scanned or processed by another party that is not the second party.
[0021]
[21] In some embodiments, the visual code is displayable on a mobile device, a desktop computing device, or a point-of-sale terminal.
[0022]
[22] In some embodiments, the application is configured to asynchronously transmit the visual code if at least one financial transaction is an offline transaction.
[0023]
[23] In some embodiments, the platform is configured to integrate transaction data from a plurality of financial transactions into a contextual rewards program offered by one or more of the multiple parties.
[0024]
[24] In some embodiments, the platform is configured to use the blockchain as a system or record for the accumulation, redemption, or transfer of points or rewards for a contextual rewards program.
[0025]
[25] In some embodiments, the platform is configured to generate one or more geo-located alerts associated with the contextual rewards program based on geographic proximity between a first party offering the contextual rewards program and a second party that is a customer or potential customer of the first party.
[0026]
[26] In some embodiments, the platform further comprises an analytics module configured to apply one or more machine learning algorithms to the transaction data of the plurality of financial transactions related to the warranty underwriting process.
[0027]
[27] In some embodiments, the application is configured to generate one or more visual codes indicating a credit to be extended to one or more parties based on the outcome of the warranty underwriting process.
[0028]
[28] In some embodiments, the application is configured to display or transmit a visual code indicating the extension of credit to one or more parties.
[0029]
[29] In some embodiments, acceptance of the credit extension occurs substantially in real time when one or more parties scan or process one or more visual codes.
[0030]
[30] In some embodiments, after one or more parties receive the credit extension, the platform is configured to enable online loan servicing, via the loan provider, to derive loan repayments from the proceeds that the one or more parties receive from subsequent sales transactions.
[0031]
[31] In some embodiments, the platform is configured to host multiple accounts with funds or balances, and the blockchain is configured to scale across multiple rails and support fiat bridge interfaces to at least some of the rails to maintain all of the multiple accounts, funds or balances, and multiple financial transactions.
[0032]
[32] In some embodiments, the platform is configured to enable multiple parties to earn transaction revenue from multiple financial transactions occurring across multiple rails.
[0033]
[33] In some embodiments, the platform is configured to incorporate and manage a cryptocurrency wallet.
[0034]
[34] In some embodiments, the multiple parties are account holders on the platform, and each account associated with a corresponding account holder is a wallet on the blockchain.
[0035]
[35] In some embodiments, the first party and the second party are individual end users of the platform.
[0036]
[36] In one aspect, the disclosure provides a method of transferring funds using an integrated financial services platform, comprising: (a) an account holder initiating a funds transfer request that is sent to an account application programming interface (API); (b) the account API generating (1) a pull transaction if the funds transfer request is an inbound transaction, or (2) a redemption reference memo if the funds transfer request is an outbound transaction; (c) an omnibus bank processing (1) the pull transaction to pull funds, or (2) the redemption reference memo to push funds; and (d) the omnibus bank broadcasting to a blockchain (1) a mint transaction and a transfer transaction if funds are pulled from the omnibus bank, or (2) a burn transaction if funds are pushed to the omnibus bank. (e) returning from the blockchain to Omnibus Bank (1) a first signal indicating that it is waiting for a first transaction block cut to mint the stable coin based on the mint transaction and the transfer transaction, or (2) a second signal indicating that it is waiting for a second transaction block cut to burn the stable coin based on the burn transaction, and (f) Omnibus Bank sending to the account API (1) a first confirmation signal marking the pull transaction as complete due to completion of the first transaction block cut to mint the stable coin, or (2) a second confirmation signal marking the push transaction as complete due to completion of the second transaction block cut to burn the stable coin.
[0037]
[37] In some embodiments, the funds transfer request includes an Automated Clearing House (ACH) transfer.
[0038]
[38] In some embodiments, (b) further includes the account API broadcasting the transfer transaction along with the redemption reference memo to the blockchain.
[0039]
[39] In some embodiments, the method further includes returning an intermediate signal from the blockchain to the Omnibus Bank indicating that an intermediate transaction block cut is awaited.
[0040]
[40] In some embodiments, funds are pushed to the Omnibus Bank upon completion of an intermediate transaction block cut.
[0041]
[41] In some embodiments, in (d), after the funds are pushed to the Omnibus Bank, a burn transaction is broadcast from the Omnibus Bank to the blockchain.
[0042]
[42] In some embodiments, a pull transaction is the credit or transfer of funds to an account holder's account and corresponds to the minting of a stablecoin.
[0043]
[43] In some embodiments, a push transaction is a debit or transfer of funds from an account holder's account and corresponds to the burning of a stablecoin.
[0044]
[44] In some embodiments, the method further includes using the integrated financial services platform to enable intra-network transactions to transfer stablecoins between multiple account holders by: a first account holder initiating a coin transfer request to a second account holder, where the coin transfer request is sent to an account API; initiating the coin transfer request; the account API broadcasting a transfer transaction associated with the coin transfer request to the blockchain; returning a signal from the blockchain to the account API indicating it is waiting for a transaction block cut to transfer the stablecoin between the first account holder and the second account holder; and the account API generating a confirmation signal marking the transaction as complete upon completion of the transaction block cut.
[0045]
[45] In some embodiments, the method further includes using the integrated financial services platform to enable the account holder to apply for a debit card whereby a debit transaction is recorded against a stablecoin wallet held by the account holder.
[0046]
[46] Further aspects and advantages of the present disclosure will become readily apparent to those skilled in the art from the following detailed description, which shows and describes only illustrative embodiments of the disclosure. As will be realized, the present disclosure is capable of other and different embodiments, and its several details are capable of modifications in various obvious respects, all without departing from the disclosure. Accordingly, the drawings and description are to be regarded as illustrative in nature, and not as restrictive.
[0047] Incorporation by Reference
[47] All publications, patents, and patent applications mentioned in this specification are herein incorporated by reference to the same extent as if each individual publication, patent, or patent application was specifically and individually indicated to be incorporated by reference.
[0048]
[48] The novel features of the present disclosure are set forth with particularity in the appended claims. A further understanding of the features and advantages of the present disclosure will be obtained by reference to the following detailed description setting forth illustrative embodiments and the accompanying drawings (also referred to herein as "Figures" and "FIGS"), in which: [Brief description of the drawings]
[0049] [Figure 1]
[49] Figure 1 illustrates a schematic diagram of an integrated financial services platform according to some embodiments. [Diagram 2]
[50] FIG. 2 illustrates generally an example of a visual code showing or representing a transaction amount or settlement between a first party and a second party, according to some embodiments. [Diagram 3]
[51] Figure 3 illustrates a schematic of a data flow structure of an integrated financial services platform according to some embodiments. [Figure 4]
[52] Figure 4 illustrates generally a process flow of an integrated financial services platform configured to create an account for a user, according to some embodiments. [Diagram 5]
[53] FIG. 5 illustrates generally a process flow of an integrated financial services platform configured to initiate an Automated Clearing House (ACH) pull transaction in which one or more tokens on a blockchain are exchanged for an amount of fiat currency, according to some embodiments. [Figure 6]
[54] FIG. 6 illustrates generally a process flow of an integrated financial services platform configured to initiate an ACH push transaction in which one or more tokens on a blockchain are exchanged for an amount of fiat currency, according to some embodiments. [Figure 7]
[55] Figure 7 illustrates generally a process flow of an integrated financial services platform configured to facilitate intra-network transactions, according to some embodiments. [Figure 8]
[56] Figure 8 illustrates generally a process flow for an integrated financial services platform configured to facilitate application and creation of a debit card, according to some embodiments. [Figure 9]
[57] FIG. 9 illustrates generally an exemplary computer system that may be programmed or otherwise configured to implement one or more of the methods provided herein. DETAILED DESCRIPTION OF THE PREFERRED EMBODIMENTS
[0050]
[58] While various embodiments have been shown and described herein, it will be apparent to those skilled in the art that such embodiments are provided by way of example only. Numerous variations, changes, and substitutions may be made by those skilled in the art without departing from the scope of the present disclosure. It is understood that various alternatives to the embodiments described herein may be used.
[0051]
[59] In one aspect, the disclosure provides an integrated financial services platform. The platform may include one or more payment rails. The multiple rails may be configured to enable multiple financial transactions. Non-limiting examples of financial transactions may include credit transfers, remittances, debits, financing purchases, and point-of-sale loans between multiple (e.g., two or more) parties.
[0052]
[60] A platform may include one or more applications for implementing multiple rails. A rail is a platform or network that transfers currency or other assets between two or more parties. Multiple rails may include multiple different currencies, assets, or types of financial transactions. For example, multiple rails may include a rail for each financial transaction of a group of financial transactions including money transfers, loan construction, bill settlement between businesses or between businesses and customers, and credit issuance. A platform may integrate multiple rails horizontally and / or vertically. A platform may be a mobile platform that makes the integrated rails easier to use for mobile users. Integrating multiple rails on a platform may increase efficiency. Integration may increase time efficiency, cost, regulatory scrutiny, or other metrics of a transaction. Integrating multiple rails on a mobile platform may provide end users with faster transaction speeds, greater reliability, fewer intermediate steps or channels, and other benefits. Additionally, integrating multiple rails on a single integrated platform allows users to use a single platform to process a wide variety of transactions.
[0053]
[61] One or more applications may be executable on multiple devices. In some embodiments, the application may be a mobile application ("app"). The multiple devices may include a personal computer (e.g., a portable PC), a slate or tablet PC (e.g., an Apple® iPad®, a Samsung® Galaxy Tab), a phone, a smartphone (e.g., an Apple® iPhone®, an Android-enabled device, a Blackberry®), or a personal digital assistant. The application may include a graphical user interface (GUI) for facilitating one or more financial transactions. The GUI may be rendered on one or more devices. The application may facilitate one or more financial transactions between multiple parties.
[0054]
[62] Figure 1 illustrates one embodiment of a platform 100. The platform may be operatively coupled to a number of user devices 110. Applications of the platform may be executable on one or more devices 110 of a number of devices 111, 112, 113. The platform 100 may also be in operative communication with one or more financial institutions 120. The platform may be in operative communication with one or more financial institution accounts 121, 122, 123 of the one or more financial institutions 120.
[0055]
[63] The platform may comprise an application programming interface (API) 101 configured to implement the multiple rails of the platform. The API may be in operative communication with an omnibus account 102. An omnibus account may generally refer to an account held at a financial institution where one or more of multiple owners hold separate ownership interests in separate assets held within the omnibus account. The omnibus account and the API may be in operative communication with a distributed ledger (e.g., a blockchain) 103. The distributed ledger may record transactions between two parties of the platform or one party of the platform and one or more parties external to the platform. For example, the blockchain may record transactions facilitated by the platform between a financial institution account 121 and an omnibus account 102 when directed by a user via a user device 111.
[0056] Blockchain-based financial transaction rails
[64] In one embodiment, the platform described herein may be configured to provide financial transaction rails. The financial transaction rails may be based on a distributed ledger, such as a blockchain. In some cases, the financial transaction rails may be based on a private blockchain network. In some cases, the rails may be based on a publicly accessible blockchain network.
[0057]
[65] In some cases, a financial transaction rail of the present disclosure may be a retailer payment rail (e.g., a payment rail configured to enable commercial transactions between one or more retailers and one or more consumers). In some embodiments, the payment rail may settle funds exchanged via the payment rail in real time. In some cases, a blockchain-based payment rail may enable a user (e.g., a retailer) to access settlement funds in real time. As used herein, the term “real-time” generally refers to a response time that appears substantially undelayed to a user. A real-time action or event may be performed within a response time of less than one or more of 10 seconds, 5 seconds, 1 second, tenths of a second, hundredths of a second, milliseconds, or less to at least another event or action. A real-time action may be performed by one or more computer processors. In some embodiments, the response time may be associated with processing of data (e.g., by a computer processor), transmission of data (e.g., by a platform), or other operations of the platform.
[0058]
[66] In some embodiments, blockchain-based financial transaction rails can reduce transaction fees for retailers using the rails by at least 10%, 20%, 30%, 40%, 50%, 60%, 70%, 80%, 85%, 90%, 95%, or more. In some cases, blockchain-based financial transaction rails can reduce or eliminate chargeback risk. Chargeback risk may generally refer to the risk that a commercial transaction will not settle due to consumer fraud or other invalidation between a retailer and a traditional rail provider (e.g., a Visa® credit card).
[0059] Point-of-Sales Lending
[67] The platform can incorporate the benefits of credit and debit systems. For example, the platform can be configured to link accounts at Federal Deposit Insurance Corporation (FDIC) insured financial institutions to provide user access to Visa debit cards, enable direct deposits to user accounts, and allow users to access automated teller machines (ATMs) at linked financial institutions. The platform can be configured to provide the benefits of credit transactions by providing native APIs that finance individual transactions on the platform. The lending APIs can be configured to enable users (e.g., consumers) to finance purchases at the point of sale (POS). The lending APIs can use traditional Visa debit rails or financial transaction rails based on blockchain.
[0060]
[68] In some embodiments, the platform may enable users (e.g., customers) to pay for traditional debit card transactions by financing installment loan purchases. For example, a consumer may settle with a retailer by accessing financing from an underwriter of the platform, where the financing includes an installment loan agreement. In some cases, the platform may enable an underwriting decision (e.g., whether the consumer is eligible to finance a purchase) in a period of less than two minutes, for example. In some embodiments, the platform may enable consumers to access credit in real time, such as at the point of sale.
[0061]
[69] In one aspect, the platform of the present disclosure may enable API integration. API integration may enable customization of the look and feel of the platform. In some cases, API integration may enable the platform to be integrated with other components or features of a second platform.
[0062] 1. Visual Code
[70] In one aspect, a platform of the present disclosure may provide a visual code for facilitating a financial transaction on the platform. The platform may include an application executable on multiple devices. The application may include a graphical user interface. The graphical user interface may be configured to facilitate one or more financial transactions between multiple parties. At least one of the financial transactions may be completed using the visual code. FIG. 2A illustrates an example of an interface of a platform that prompts a user to input information about a transaction. FIG. 2B illustrates an example of a platform that provides a visual code (e.g., a QR code). The visual code may include a Quick Response (QR) code. The visual code may indicate or represent a transaction amount or settlement between a first party and a second party. The visual code may include information that may be used by the platform to identify a transaction between a first party and a second party. This information may include identification of the parties, the amount of the transaction, the date of the transaction, a description of the goods or services provided, a place of sale of the goods or services, details regarding financing of the purchase amount of the goods or services, and / or other information regarding the invoice for the transaction.
[0063]
[71] As an example, a visual code may represent a bill for a commercial transaction, e.g., a dinner bill. The bill or invoice may include a visual code on a printed or digitally displayed bill that is scanned by one or more customers. Upon scanning the visual code, an application on the customer's device may authenticate the bill and prompt the consumer to pay the bill, for example, by initiating a transfer of assets via the platform's rails to settle the outstanding balance.
[0064]
[72] In one example, the visual code may represent a commercial transaction, e.g., a receipt for the payment of a monthly rent debt. Upon payment of a monthly rent amount via the platform's payment rail, the platform may generate a visual code representing the details of the rent paid. This visual code may be sent to the tenant and landlord as a receipt for the rent paid. The visual code may also be scanned by the tenant's or landlord's device to recall the details of the rent payment. In another embodiment, the visual code may be generated by one party to reflect a transaction that was not completed using the platform. As an example, when a tenant pays a landlord in cash and the landlord enters the transaction details into the platform, the platform generates a visual code representing the transaction and sends the visual code to the landlord and tenant as a receipt for the rent transaction.
[0065]
[73] The application's graphical user interface or application can be configured to retrieve information from the visual code. The graphical user interface or application can retrieve information from the visual code by scanning, photographing, or otherwise analyzing the visual code. The application can generate a digital invoice between two parties using the information retrieved from the visual code. The application can present the invoice upon scanning of the visual code to a party responsible for settling the invoice. The application can initiate a transfer of assets from the first user to the second user to settle the amount of the transaction represented by the visual code. The application can prompt either the first user or the second user to approve or deny payment of the transaction amount via the platform's payment rails.
[0066]
[74] In some cases, visual codes of the present disclosure may include representations of data configured to be visually analyzed by a system. Visual codes may include Quick Response (QR) codes, Universal Product Codes (UPC), or other visual codes. Visual codes may be in a variety of formats. Visual codes may have one or more orientations. Visual codes may be square, rectangular, or another standard polygon that is identified by a sensor. Visual codes may include text and / or images within a frame of the visual code. Visual codes may be color, monochrome, grayscale, or black and white. Visual codes may be configured to be imaged by a camera of a device (e.g., a smartphone, a tablet, a computer with a camera, or other system with a camera and a processor) capable of executing one or more applications of the present disclosure.
[0067]
[75] In some cases, the visual code may be transmitted between devices. As a non-limiting example, the visual code may be generated by a device running the platform application and transmitted to a second device running the platform application. The visual code may be transmitted as an email, a text message, a data message via the application, or other digital pathway. The visual code may also be transmitted by displaying the visual code on a first device and scanning the visual code by a second device. As a non-limiting example, a retailer may enter information into a platform application on a first device. The application on the first device may generate a visual code. A graphical user interface of the application on the first device may display the visual code. The platform application on the second device may analyze the visual code of the first device (e.g., by imaging the visual code with a camera integrated into the second device). The platform application on the second device may initiate (or prompt a user of the second device to initiate) a transfer of assets on the platform to settle the balance of the transaction represented by the visual code. Settlement enables a platform application to send a signal to one or more parties to a transaction to confirm completion of the transaction.
[0068]
[76] In some cases, the visual code can be used to authenticate a transaction request or receipt (e.g., a bill). For example, when a bill and a visual code are transmitted to a user's device, an application on the user's device can detect the presence of the visual code and determine the authenticity of the bill. The determination of the authenticity of the bill can be used by the application to prompt or enable the user to complete payment of the bill.
[0069] 2. Omnibus Account
[77] The platform of the present disclosure may be configured to operate with an omnibus account. The omnibus account may be insured by an FDIC-insured financial institution. The omnibus account may be held in the name of the entity providing the financial services platform. The omnibus account may hold assets of multiple users of the platform. The platform may use a distributed ledger (e.g., blockchain) to account for ownership of assets in the omnibus account among multiple users of the platform. The assets in the omnibus account may include one or more of a traditional or fiat currency, one or more tokens of a digital currency, or another digital or traditional asset.
[0070] 3. Data Request Flow
[78] Figure 3 shows an example of a data structure between clients, API services, and platform vendors. In some cases, the platform includes a data processing layer to facilitate the transfer of data between two or more API services of the platform. In some cases, one or more API services may communicate directly with one or more third-party vendors.
[0071] 4. Create an account
[79] In some cases, the platform described herein may facilitate the creation of an account. FIG. 4 illustrates an example of a platform process. An account may be linked to a particular user. The user may be a mobile client. A mobile client may generally refer to a user who accesses the platform through a mobile device running the platform's application. The mobile client may interact (e.g., communicate) with the application interface (e.g., API) of the application. Creating an account may include applying for an account and / or registering an account with the user. The user may be prompted to enter user data. The user data may include information regarding the user's eligibility and / or ability to open an account. The user data may include information regarding other accounts at other financial service providers linked to the user.
[0072]
[80] User data may include personally identifiable information (PII) that is processed by financial services platforms to verify user data, verify the identity of users, or otherwise comply with "know your customer" (KYC) or Anti Money Laundering (AML) guidelines.
[0073]
[81] The platform may include one or more application programming interfaces (APIs). One of these one or more APIs may be an API (e.g., an Application API) configured to facilitate a user's application for a new account. The Application API may store the application (e.g., a collection of submitted user data) on the platform. The Application API may broadcast the data to a data processing layer of the platform. The data processing layer may evaluate the user data using internal and / or external (e.g., third party) validation. The internal and / or external validation may approve or deny the user's application for a new account.
[0074]
[82] The data processing layer may send the results of the validation by the data processing layer to an API (e.g., an account API) configured to facilitate account interactions. The account API may manage a new wallet for a new user. A wallet, as used herein, may generally refer to a software-based system configured to securely store a user's payment information and accessible to present payment account information to complete a digital financial transaction. A wallet may refer to an account that holds one or more digital assets for a wallet user. A wallet may be managed on blockchain rails.
[0075] The data processing layer "83" can send (e.g., broadcast) the result of the verification back to the application API. The application API can complete the application for the new account of the new user. After the application API completes the application, the new user can query the information related to the account through the account API.
[0076] 5. Financial institution transfers
[84] In another aspect, the platform of the present disclosure may facilitate transfers of currency or other assets between the platform and financial institutions. In some embodiments, multiple rails enable transactions between the platform, blockchain rails supporting the platform, one or more user accounts at the financial institution, and financial institution middleware supporting the financial institution's digital account system. The platform may facilitate transactions between a user account at a first financial institution and an omnibus account at a second financial institution. The omnibus account may be held in the name of the platform for the benefit of one or more users (e.g., managed by the platform for the benefit of users of the platform). The first financial institution and the second financial institution may be the same financial institution or different financial institutions. In some cases, transfers of assets between the platform and financial institutions may be facilitated via the Automated Clearing House (ACH) network (e.g., ACH transfers). A user may link accounts held at a financial institution with those accounts on the platform. A user may provide the financial institution account information necessary to push or pull funds from the user's financial institution account to the omnibus account of the platform. In exchange for currency or other assets exchanged with a user's financial institution account, the platform may burn or mint stablecoins on the platform's blockchain ledger. As used herein, a stablecoin may refer to a cryptocurrency or digital token on a blockchain network that has a fixed price or whose price is pegged to a fiat currency. As an example, a stablecoin may be pegged to the US dollar and valued at one token (coin) per dollar. Stablecoins may be more easily traded than fiat currencies, thus enabling the platform described herein to be more efficient. Additionally, the fixed value of a stablecoin provides greater reliability and resistance to volatility that may reduce the efficiency of transactions using volatile tokens, compared to other types of cryptocurrencies.
[0077]
[85] In some cases, the account API may facilitate a user (e.g., an account holder) entering information regarding a financial institution transfer (e.g., an ACH transfer). The account API may store a request for an ACH transfer. The account API may create an ACH transaction request (e.g., pull or push). The account API may send that ACH transaction request to a financial institution integrated with the platform. Once the financial institution completes the transaction (e.g., ACH pull or push), the platform may broadcast the successful transaction to a blockchain supporting the platform. The blockchain may be configured to record one or more transactions (e.g., successful ACH transactions) of the platform.
[0078] 6. Mint (Pull / Credit)
[86] In some cases, a transaction between the platform and a financial institution may include an ACH pull or an ACH push. FIG. 5 illustrates an example of a process of a platform configured to mint or pull / credit an amount from a user's financial institution account to an omnibus account. The steps illustrated in FIG. 5 may be performed in a different order, an order including one or more additional steps, or any other order. The process may include an ACH pull transaction, in which fiat currency is exchanged for one or more tokens on the platform's distributed ledger. An ACH pull may refer to a transaction that debits or removes currency from a financial institution account and transfers the value of that currency to the platform's omnibus account. The platform may withdraw currency from the user's financial institution account, transfer the currency to the omnibus account, and record the transaction on the blockchain ledger. The platform may also mint (e.g., create) one or more tokens based on the platform's blockchain that correspond to the value of the currency transferred from the user's financial institution account to the omnibus account. The one or more tokens may include stable coins native to the platform's blockchain and digital wallet. Alternatively or additionally, the one or more tokens may include one or more digital assets that are not native to the platform's blockchain or digital wallet. After completing an ACH pull transaction and minting a blockchain stablecoin or other token representing the value of the transferred currency, the account API may be configured to allow a user to query the balance of the tokens on the platform blockchain (e.g., held in a wallet managed by the platform).
[0079] 7. Burn (push / pull)
[87] In some cases, a transaction between the platform and the financial institution may include an ACH pull or an ACH push. FIG. 6 illustrates an example of a process of a platform configured to burn or push / debit an amount from an omnibus account to a user account at a financial institution. The steps illustrated in FIG. 6 may be performed in a different order, an order including one or more additional steps, or any other order. The process may include an ACH push transaction in which a token in the platform's distributed ledger is exchanged for fiat currency. An ACH push may refer to a transaction that credits or adds currency from the platform's omnibus account to an account at the financial institution. The platform may remove one or more tokens from a user account at the platform, where the one or more tokens are tokens in the platform's distributed ledger that correspond to the value of the fiat currency transferred from the omnibus account to the account at the financial institution. The platform may record the transaction on the blockchain, such as a successful burn (e.g., destruction) of the one or more tokens removed from the user account. The one or more tokens may include stable coins native to the platform's blockchain and / or digital wallet. Alternatively or additionally, the one or more tokens may include one or more digital assets that are not native to the platform's blockchain or digital wallet. After completing an ACH push transaction and burning the blockchain stablecoin or other token representing the value of the transferred currency, the account API may be configured to allow a user to query the balance of the tokens on the platform blockchain (e.g., held in a wallet managed by the platform).
[0080] 8. Intra-network transactions
[88] In some cases, the platform described herein may be configured to facilitate intra-network transactions between two or more users. FIG. 7 illustrates an example of a process for a network configured to facilitate intra-network transactions. The steps illustrated in FIG. 7 may be performed in a different order, an order including one or more additional steps, or any other order. An intra-network transaction may include a transfer of a stablecoin from one user to another. The stablecoin may be native to a platform rail based on or built on a blockchain. An account API of the platform may be configured to facilitate a user initiating a coin transfer (e.g., a transfer of value or amount of a stablecoin via a blockchain rail). The account API may store pending transactions. The account API may broadcast one or more details of the transaction to the blockchain ledger. The one or more details of the transaction may include an amount of currency being transferred, identities of the parties involved in the transaction, a time and / or date of the transaction, or other information used to validate the transaction. The blockchain may cut a new block (e.g., record the transaction, or one or more details of the transaction, on the blockchain). Once a new block is cut and the transaction is recorded on the blockchain ledger, the account API can mark the transaction as complete. The account API can be configured to allow a user to query an account (e.g., request information about the account balance, recent transaction history, or other account information).
[0081] 9. Debit Card Transactions
[89] In one aspect, a platform of the present disclosure may be configured to facilitate debit card transactions. FIG. 8 illustrates a process of a platform that may be configured to facilitate debit card transactions. The steps illustrated in FIG. 8 may be performed in another order, an order that includes one or more additional steps, or any other order. The platform may include an application API, an account API, a card API, and / or a debit card provider API. The application API may be configured to request information from a new user regarding an application for a debit card linked to the new user's account on the platform. The account API may be configured to store a user's account information, which may include account information related to the debit card. The card API may be configured to communicate with or otherwise integrate with an external debit card provider (e.g., a debit card provider API).
[0082]
[90] In some cases, the application API can facilitate an account holder or prospective account holder to submit an application to create a debit card account on the platform or to add a debit card linked to a user's existing account on the platform. The application API can be configured to store the application (e.g., application data). The application API can be configured to broadcast the application data to the card API. The card API can be configured to process the application data. The card API can create a user account and a debit card associated with the user account, or can create a debit card associated with the user's existing account. The card API can be configured to send the application data or the processed application data to a debit card provider. The debit card provider can receive the application data or the processed application data from the card API via an external debit card provider API. The external debit card provider API can generate one or more webhook results regarding the creation of a debit card associated with a user account on the platform. The card API can receive the webhook results and broadcast the results of the application and creation of the debit card to the account API. The Account API may be configured to update one or more permissions, details, or accounts associated with the user's account to reflect the results of the Card API's application and debit card generation actions. Upon successful completion of the application and generation of a debit card associated with the user's account, the Card API may be configured to facilitate the user querying one or more details regarding the debit card account. The one or more details may include the account's current balance and / or the account's transaction history.
[0083]
[91] Computer Systems
[92] In another aspect, the present disclosure provides a computer system programmed or configured to implement the methods of the present disclosure. Referring to FIG. 9, a computer system 901 can be programmed or otherwise configured to implement a method of transferring funds using a unified financial services platform. The computer system 901 can be configured, for example, to record transactions of the unified financial services platform on a distributed ledger. The computer system 901 can be a user's electronic device or a computer system located remotely to the electronic device. The computer system 901 can be a cloud server.
[0084]
[93] The computer system 901 may include a central processing unit (CPU, herein "processor" and "computer processor") 905, which may be a single-core or multi-core processor, or multiple processors for parallel processing. The computer system 901 also includes memory or storage locations 910 (e.g., random access memory, read-only memory, flash memory), an electronic storage unit 915 (e.g., hard disk), a communication interface 920 (e.g., network adapter) for communicating with one or more other systems, and peripheral devices 925, such as cache, other memory, data storage, and / or electronic display adapters. The memory 910, storage unit 915, interface 920, and peripheral devices 925 communicate with the CPU 905 via a communication bus (solid lines), such as a motherboard. The storage unit 915 may be a data storage unit (or data repository) for storing data. The computer system 901 may be operatively coupled to a computer network ("network") 930 with the aid of the communication interface 920. The network 930 may be the Internet, an Internet and / or an extranet, or an intranet and / or an extranet in communication with the Internet. The network 930 may be a telecommunications and / or data network in some cases. The network 930 may include one or more computer servers that may enable distributed computing, such as cloud computing. The network 930 may implement a peer-to-peer network in some cases that may enable devices coupled to the computer system 901 to act as clients or servers with the help of the computer system 901.
[0085]
[94] The CPU 905 may execute a series of machine-readable instructions, which may be embodied in a program or software. The instructions may be stored in a memory location, such as the memory 910. The instructions may be directed to the CPU 905, which may then be programmed or otherwise configured to cause the CPU 905 to perform the methods of the present disclosure. Examples of operations performed by the CPU 905 may include fetch, decode, execute, and writeback.
[0086]
[95] The CPU 905 may be part of a circuit, such as an integrated circuit. One or more other components of the system 901 may be included in the circuit. In some cases, the circuit is an application specific integrated circuit (ASIC).
[0087]
[96] The storage unit 915 can store files such as drivers, libraries, and saved programs. The storage unit 915 can store user data, such as user preferences and user programs. The computer system 901 can optionally include one or more additional data storage units located outside the computer system 901 (e.g., on a remote server in communication with the computer system 901 via an intranet or the Internet).
[0088]
[97] Computer system 901 can communicate with one or more remote computer systems via network 930. For example, computer system 901 can communicate with a remote computer system of a user (e.g., a retailer or end user). Examples of remote computer systems include a personal computer (e.g., a portable PC), a slate or tablet PC (e.g., an Apple® iPad®, a Samsung® Galaxy Tab), a phone, a smartphone (e.g., an Apple® iPhone®, an Android-enabled device, a Blackberry®), or a personal digital assistant. A user can access computer system 901 via network 930.
[0089]
[98] The methods described herein may be implemented by machine (e.g., computer processor) executable code stored in an electronic storage location of the computer system 901, such as the memory 910 or the electronic storage unit 915. The machine executable or machine readable code may be provided in the form of software. In use, the code may be executed by the processor 905. In some cases, the code may be read from the storage unit 915 and stored in the memory 910 for ready access by the processor 905. In some circumstances, the electronic storage unit 915 may be omitted and the machine executable instructions are stored in the memory 910.
[0090]
[99] The code may be precompiled and configured for use on a machine having a processor adapted to execute the code, or may be compiled during run-time. The code may be provided in a programming language that may be selected to enable the code to be executed in a precompiled or compiled form.
[0091]
[0100] Aspects of the systems and methods provided herein, such as computer system 901, can be embodied in programming. Various aspects of the technology can be considered as "products" or "articles," typically in the form of machine (or processor) executable code and / or associated data executed on or embodied in some type of machine-readable medium. The machine-executable code can be stored in an electronic storage unit, such as a memory (e.g., read-only memory, random access memory, flash memory) or a hard disk. A "storage" type medium can include any or all of the tangible memory of a computer, a processor, or the like, or their associated modules, such as various semiconductor memories, tape drives, disk drives, etc., and can provide non-transitory storage at any time for software programming. All or part of the software may be communicated over the Internet or various other telecommunications networks. Such communication may, for example, enable loading of the software from one computer or processor to another, such as from a management server or host computer to a computer platform of an application server. Thus, other types of media that may bear software elements include optical, electrical, and electromagnetic waves, such as those used through physical interfaces between local devices, over wired and optical terrestrial networks, and through various air links. The physical elements that carry such waves, such as wired or wireless links, optical links, etc., may also be considered media bearing software. As used herein, unless limited to persistent, tangible "storage" media, terms such as computer or machine "readable medium" refer to any medium that participates in providing instructions to a processor for execution.
[0092]
[0101] Thus, a machine-readable medium such as a computer executable code may take many forms, including but not limited to a tangible storage medium, a carrier wave medium, or a physical transmission medium. For example, non-volatile storage media including optical or magnetic disks, or any storage device such as any computer, may be used to implement the databases, etc., shown in the figures. Volatile storage media include dynamic memory, such as the main memory of such a computer platform. Tangible transmission media include coaxial cables, copper wire and optical fibers, including the wires that make up a bus within a computer system. Carrier wave transmission media may take the form of electric or electromagnetic signals, or acoustic or light waves such as those generated during radio frequency (RF) or infrared (IR) data communications. Thus, common forms of computer readable media include, for example, a floppy disk, a flexible disk, a hard disk, a magnetic tape, any other magnetic medium, a CD-ROM, a DVD or a DVD-ROM, any other optical medium, punch cards paper tape, any other physical storage medium having a pattern of holes, a RAM, a ROM, a PROM and EPROM, a FLASH-EPROM, any other memory chip or cartridge, a carrier wave carrying data or instructions, a cable or link carrying such a carrier wave, or any other medium from which a computer can read programming code and / or data. Many of these forms of computer readable media may be involved in delivering one or more sequences of one or more instructions to a processor for execution.
[0093]
[0102] The computer system 901 may include or communicate with an electronic display 935 that includes, for example, a user interface (UI) 940 to provide a portal through which a user may interact with the financial services platform. The portal may be provided through an application programming interface (API). A user or entity may also interact with various elements within the portal through the UI. Examples of UIs include, but are not limited to, graphical user interfaces (GUIs) and web-based user interfaces.
[0094]
[0103] The methods and systems of the present disclosure may be implemented by one or more algorithms. The algorithms may be implemented by software upon execution by the central processing unit 905. For example, an algorithm may be configured to generate a visual code that indicates or represents a transaction amount of a payment between a first party and a second party.
[0095]
[0104] While preferred embodiments of the present invention have been shown and described herein, it will be apparent to those skilled in the art that such embodiments are provided by way of example only. Numerous variations, changes, and substitutions will occur to those skilled in the art without departing from the scope of the present disclosure. It is understood that various alternatives to the embodiments of the present invention described herein may be used in carrying out the present invention. It is intended that the following claims define the scope of the present invention, and that methods and structures within the scope of these claims and their equivalents are covered thereby.
Claims
1. 1. An integrated financial services platform, comprising: a plurality of rails based on or built on a blockchain, the plurality of rails being configured to enable a plurality of financial transactions, including account transfers, remittances, debits, purchase financing, or point of sale loans, between multiple parties; an application for implementing the rails, the application being executable on a plurality of devices and including a graphical user interface for facilitating the financial transactions between the plurality of parties, at least one of the financial transactions being completed through the use of a visual code indicating or representing a transaction amount or settlement between a first party and a second party; An integrated financial services platform.
2. The platform of claim 1 , wherein the application is a mobile application (app) or web-based.
3. The platform of claim 1 , wherein the visual code comprises a two-dimensional code.
4. The platform of claim 3 , wherein the two-dimensional code comprises a quick response (QR) code.
5. The platform of claim 1 , wherein the visual code is associated with an invoice from the first party to the second party.
6. 2. The platform of claim 1, wherein the application is configured to generate the visual code for the first party, the visual code being subsequently displayed or transmitted by the first party to the second party.
7. The platform of claim 1 , wherein the application is configured to enable the first party to send the visual code to the second party via text message or email.
8. 7. The platform of claim 6, wherein the at least one financial transaction is completed or settled substantially in real time when the second party uses a device to scan or process the visual code.
9. The platform of claim 6 , wherein the visual code includes metadata about the first party, a nature of the at least one financial transaction, and a timestamp.
10. The platform of claim 9 , wherein the visual code further comprises metadata about the second party.
11. 7. The platform of claim 6, wherein the visual code is unique only to the second party, such that the at least one financial transaction cannot be completed if the visual code is scanned or processed by another party that is not the second party.
12. The platform of claim 1 , configured to integrate transaction data from the plurality of financial transactions into a contextual rewards program offered by one or more of the plurality of parties.
13. 13. The platform of claim 12, configured to use the blockchain as a system or record for accumulating, redeeming, or transferring points or rewards for the contextual rewards program.
14. 14. The platform of claim 13, configured to generate one or more geo-located alerts related to the contextual rewards program based on geographic proximity between a first party offering the contextual rewards program and a second party that is a customer or potential customer of the first party.
15. 10. The platform of claim 1, further comprising an analytics module configured to apply one or more machine learning algorithms to transaction data from the plurality of financial transactions for a warranty underwriting process.
16. 16. The platform of claim 15, wherein the application is configured to generate one or more visual codes indicating credit for extension to one or more parties based on the outcome of the warranty underwriting process.
17. 10. The platform of claim 1, configured to host a plurality of accounts with funds or balances, wherein the blockchain is configured to extend across the plurality of rails and support a fiat bridge interface to at least some of the rails to maintain all of the plurality of accounts, funds or balances, and financial transactions.
18. The platform of claim 1 configured to incorporate and manage a cryptocurrency wallet.
19. 2. The platform of claim 1, wherein the multiple parties are account holders on the platform, and each account associated with the corresponding account holder represents a wallet on the blockchain.
20. The platform described in claim 1, configured to enable the multiple parties to earn transaction revenue from the multiple financial transactions occurring across the multiple rails.