Anonymous Digital Profile for Banking Access
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Solution Overview
Problem
Unbanked individuals face challenges in accessing banking services due to lack of trust, convenience, and requirements such as Know Your Customer (KYC) regulations, which hinders financial inclusion and secure identity disclosure.
Innovation Solution
Implementing an anonymous digital profile system that allows individuals to conduct limited banking activities without disclosing personal identifiable information (PII), with tiered access based on collected or inferred identifying metrics, enabling gradual onboarding and risk management.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If traditional banking services require disclosure of personally identifiable information (PII) for KYC regulations, then compliance with regulatory requirements is improved, but trust and privacy concerns of unbanked individuals deteriorate
Solution Approach 1:
The patent introduces an intermediary system that uses identifying metrics as a mediator between the bank and customer. Instead of requiring direct disclosure of PII, the system collects identifying metrics (such as device identifiers, location data, or behavioral patterns) that can be used to verify customer identity and comply with KYC regulations without compromising customer privacy or trust. This intermediary layer allows regulatory compliance while maintaining customer confidence.
2Reliability
If banking services require multiple identifying metrics and PII for full access, then security and risk management are improved, but ease of access and onboarding simplicity deteriorate
Solution Approach 1:
The patent segments banking services into different tiers or levels of access based on the amount and type of identifying metrics provided. Customers can access basic banking services with minimal identifying metrics, while additional services require progressively more metrics. This segmentation allows the system to balance security requirements with ease of access, enabling unbanked individuals to use basic services without being overwhelmed by complex requirements.
Solution Approach 2:
The system dynamically adjusts the level of identifying metrics required based on the specific banking service being accessed and the customer's profile. Rather than requiring all metrics for all services, the system adapts the data collection requirements in real-time, making the onboarding process simpler while maintaining security where necessary.
3Measurement precision
If the onboarding process requires extensive paperwork and procedures, then compliance and verification accuracy are improved, but the complexity and intimidating nature of the process deteriorates
Solution Approach 1:
The patent replaces traditional mechanical onboarding processes (paperwork, in-person visits, manual data entry) with automated digital systems that collect and verify identifying metrics electronically. The system automatically processes the collected metrics to verify customer identity and eligibility, reducing the complexity of onboarding procedures while maintaining verification accuracy through automated validation algorithms.
Data Source
AI summary
Systems, apparatuses, methods, and computer program products are disclosed for facilitating banking activities via an anonymous digital profile. An example method receiving, by communications hardware, a secured activity request comprising a first identifying metric of an individual and a requested banking activity identifier. The example method also includes determining, by data analysis circuitry, that the individual is not a banked customer. The example method also includes generating, by profile generation circuitry, a digital profile based on the first identifying metric, wherein generating the digital profile does not create a banked relationship with the individual, and wherein the digital profile defines a predefined set of banking activities for which the individual is authorized to perform.