Account Mask Identifier for Electronic Bill Payment Systems
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Solution Overview
Problem
Existing electronic bill payment systems face inefficiencies due to missing or incorrect account masks, leading to rejected payments and increased manual intervention, which hampers the transition from paper-based to electronic payments and reduces processing efficiency.
Innovation Solution
An account mask identifier tool is introduced to facilitate the identification and recommendation of generic and refined account masks, utilizing pattern recognition and automated processes to ensure accurate account number formatting and routing, thereby enhancing the electronic bill payment system's efficiency and reducing manual errors.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If manual account mask verification is used, then payment accuracy may be maintained, but processing efficiency decreases and manual intervention increases
Solution Approach 1:
The system automatically identifies and validates account masks without requiring manual intervention. The automated account mask identification tool scans account numbers, extracts mask patterns, and validates them against the payment system's requirements, enabling the system to self-verify payment accuracy while maintaining high processing efficiency.
Solution Approach 2:
The patent replaces manual mechanical verification processes with an automated computational system. The account mask identification tool uses pattern recognition algorithms to automatically extract and validate account masks, substituting human operators with an automated system that maintains accuracy while dramatically improving processing speed and efficiency.
2Productivity
If account mask identification is automated, then processing efficiency increases, but system complexity increases
Solution Approach 1:
The automated account mask identification tool is designed to handle multiple account types and mask formats through a single unified system. It can process checking accounts, savings accounts, and other financial account types using the same pattern recognition algorithms, reducing the need for separate specialized systems for each account type and thereby managing complexity while maintaining versatility.
Solution Approach 2:
The system manages complexity by dynamically adjusting validation parameters based on the detected account type and mask pattern. Rather than using fixed complex rules for all accounts, the system adapts its validation criteria to match the specific account format, simplifying the overall system architecture while handling diverse account types effectively.
3Reliability
If more validation checks are performed, then payment accuracy improves, but processing time increases
Solution Approach 1:
The system performs account mask identification and validation checks before the actual payment processing begins. By pre-validating the account mask format and detecting potential issues early in the workflow, the system ensures payment accuracy without adding time to the critical payment execution path, thereby maintaining both high accuracy and fast processing.
Solution Approach 2:
The automated validation system quickly skips through standard account mask patterns using pre-programmed recognition rules. For common account formats, the system rapidly validates against known patterns without performing exhaustive checks, thereby maintaining high payment accuracy for standard cases while minimizing processing time. Exceptional cases that require detailed validation are handled separately.
Data Source
AI summary
At a computing device, optionally located in communication with an intermediate node in an electronic bill payment system, access is obtained to a data structure including a plurality of valid customer account numbers for customers of a biller that utilizes or desires to utilize the electronic bill presentment and payment system. With the computing device, each character of each of said valid customer account numbers is replaced with a wild card in accordance with a normalization scheme, to obtain a plurality of normalized valid customer account numbers. At least one pattern of said wild cards in said plurality of normalized valid customer account numbers is designated as a recommended account mask.