Network Banking Reimbursement Request System
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Solution Overview
Problem
Existing internet banking systems lack functionality for seamless fund transfers and reimbursement requests between customers and other parties, particularly for shared expenses and contractual relationships, which are not efficiently managed.
Innovation Solution
A network-based banking system that allows customers to request and facilitate transfers of funds and reimbursement through a user interface, enabling features like shared expense management, electronic bill handling, and reimbursement requests, utilizing a tiered architecture with Web, application, and database servers for secure and efficient transaction processing.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If existing internet banking systems are used for account management and transfers, then basic banking functions are available, but functionality for seamless fund transfers and reimbursement requests between customers and other parties is lacking
Solution Approach 1:
The internet banking system is enhanced to perform multiple functions beyond basic account management and transfers. The system now supports fund transfers between customers and non-customers, reimbursement requests, shared expense management, and electronic bill handling. This multi-functionality allows a single system to serve diverse banking needs without requiring separate specialized systems.
Solution Approach 2:
The system implements a tiered architecture with Web servers, application servers, and database servers. This segmentation divides the complex banking system into manageable layers, where each layer handles specific functions. The Web servers handle user interface, application servers process business logic including transfers and reimbursements, and database servers manage data storage, making the overall system more maintainable and scalable.
2Reliability
If a tiered architecture with Web, application, and database servers is implemented, then secure and efficient transaction processing is achieved, but system complexity increases
Solution Approach 1:
The banking system is divided into three distinct server layers: Web servers that handle user interface and requests, application servers that process business logic including fund transfers and reimbursement requests, and database servers that manage data storage and retrieval. This segmentation isolates functions, improves security by limiting access between layers, and enhances efficiency through specialized processing at each level.
Solution Approach 2:
Application servers act as intermediaries between Web servers and database servers. They receive requests from Web servers, process the business logic for transactions such as fund transfers and reimbursements, and then communicate with database servers for data operations. This intermediary layer protects the database layer from direct web access and enables complex transaction processing.
3Adaptability or versatility
If existing internet banking products are used, then account management and transfers to billing parties are available, but enhanced products for transfers among customers and reimbursement requests are needed
Solution Approach 1:
The user interface is designed to provide universal access to multiple banking functions including account management, fund transfers between customers, reimbursement requests, shared expense management, and electronic bill handling. The same interface handles both internal customer transactions and external transfers to non-customers, simplifying the user experience while expanding functionality.
Solution Approach 2:
The system enables customers to independently initiate and manage fund transfers and reimbursement requests through the internet banking interface. Customers can view transaction histories, track reimbursement status, and manage shared expenses without requiring bank staff intervention. The system automatically processes transactions and updates account balances.
Data Source
AI summary
Various embodiments are directed to systems and methods for generating and delivering a reimbursement request from a customer of a financial institution. According to various embodiments a transaction list may be displayed to a customer. The transaction list may comprise transactions on the customer's account at the financial institution. An indication of a transaction to be reimbursed selected from the list, an indication of a recipient of the reimbursement request, an indication of the reimbursement request amount, and a text message may be received from the customer. The reimbursement request may be generated by packaging an indication of the customer, a description of the transaction to be reimbursed, the indication of the recipient, the indication of the reimbursement request amount and the text message into a message format. The reimbursement request may be transmitted to the recipient.