Automated Account Information Pre-filling System
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Solution Overview
Problem
The process of opening a new account or switching an existing account between institutions is often complicated due to the need to provide multiple pieces of information, which can be difficult to obtain and time-consuming.
Innovation Solution
A system and method for automatically capturing and pre-filling account-identifying information from electronic transactions, allowing for the automatic filling of new account information fields, simplifying the application process by utilizing captured external account information.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If manual account information collection is used, then data accuracy is maintained, but user effort and time consumption increase significantly
Solution Approach 1:
The system performs preliminary actions by capturing and storing account information during electronic transactions before the account opening process. This pre-captured information is then automatically retrieved and pre-filled in the new account application, eliminating the need for users to manually gather and enter the same information again.
Solution Approach 2:
The patent introduces an intermediary system (account information capture and retrieval system) that acts as a mediator between the electronic transaction system and the account opening system. This intermediary automatically captures, stores, and retrieves account information, facilitating seamless data transfer without user intervention.
2Reliability
If comprehensive account information is collected, then application completeness is improved, but system complexity increases
Solution Approach 1:
The system implements a universal account information capture mechanism that can handle multiple types of accounts (checking, savings, credit cards, investment accounts) and multiple institutions through a single integrated platform. The same system infrastructure serves diverse account opening needs, reducing overall system complexity despite handling comprehensive information.
Solution Approach 2:
The system creates and stores copies of account information during electronic transactions. These captured copies are then reused and pre-filled in new account applications, ensuring completeness without requiring users to re-gather information or the system to re-collect data from multiple sources.
3Ease of operation
If automatic information capture is implemented, then user convenience is improved, but data security requirements increase
Solution Approach 1:
The system implements feedback mechanisms where users can review, verify, and correct pre-filled account information before final submission. This feedback loop ensures data accuracy and gives users control over their information, maintaining security while providing convenience.
Solution Approach 2:
The intermediary system securely captures, stores, and retrieves sensitive account information using encrypted communication channels and secure storage mechanisms. This mediator layer protects user data during transmission and storage while enabling automatic population of account fields.
Data Source
AI summary
Method and system are disclosed for automatically filling in external account information on a new account application. The method and system capture account-identifying information for an external account from electronic transactions involving the external account. The captured external account information may be used to automatically pre-fill new account information fields that require information about the external account. Account-identifying information for internal accounts may also be used to automatically pre-fill the new account application. Such an arrangement greatly simplifies the process of filling out new account applications.