Account Aggregator Credential Verification
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Solution Overview
Problem
The existing methods for mobile banking providers to integrate with online banking platforms are time-consuming, expensive, and often blocked by reluctant online banking providers, limiting the ability to offer mobile account functionality to customers due to the need for direct API connections and authorization, which is cumbersome and costly.
Innovation Solution
Utilizing a third-party account aggregator for credential verification and account authentication, allowing mobile banking applications to access financial data without direct API connections to online banking providers, thereby bypassing the need for custom connections and authorization processes.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If mobile banking providers establish direct API connections with online banking providers for credential verification, then authentication accuracy is improved, but integration time and cost increase significantly
Solution Approach 1:
The patent introduces a third-party account aggregator as an intermediary system that receives authentication requests from mobile banking providers, verifies credentials against multiple online banking platforms, and returns authentication results. This mediator eliminates the need for direct API connections between mobile banking providers and numerous online banking providers, reducing integration time from months to days while maintaining authentication accuracy through the aggregator's established verification channels.
2Reliability
If mobile banking providers establish direct API connections with online banking providers, then credential verification reliability is improved, but implementation cost increases
Solution Approach 1:
The account aggregator performs multiple functions: it serves as an authentication gateway for numerous mobile banking providers simultaneously, maintains credential verification capabilities across different online banking platforms, and provides a standardized API interface. This multi-functional system allows mobile banking providers to achieve reliable credential verification without establishing separate direct connections with each online banking provider, significantly reducing implementation costs while maintaining verification reliability.
3Reliability
If mobile banking providers seek authorization from online banking providers for direct connections, then data security is improved, but authorization process complexity increases
Solution Approach 1:
The account aggregator acts as a trusted intermediary that has already established secure authorization relationships with multiple online banking providers. When a mobile banking provider needs to verify credentials, the aggregator handles the authorization process internally through its existing secure channels, eliminating the need for mobile banking providers to navigate complex authorization processes with each online banking provider individually. Data security is maintained through the aggregator's established secure connections while process complexity is reduced to a single standardized interface.
Data Source
AI summary
A method is permitted to permit remote log in credential authentication for mobile users seeking access to a computer system through a second party computer system such as an aggregator.