Centralized Access Control Portal for Financial Data
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Solution Overview
Problem
Existing systems for managing user data and user preferences across multiple platforms are cumbersome, requiring customers to log into each third-party system or device to manage access and permissions for their financial institution information.
Innovation Solution
A centralized system, provided by a financial institution's computing system, allows customers to manage access permissions for their information through a data control portal, enabling them to grant, modify, or revoke access to third-party systems and devices in a unified manner.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If customers manage access permissions at each third-party system individually, then access control is maintained across multiple platforms, but the operational complexity and time required increases significantly
Solution Approach 1:
The patent combines multiple分散ed access control interfaces into a single centralized portal. Customers can now manage permissions for all third-party systems through one unified interface rather than logging into each system separately. This merging of functions directly reduces operational complexity while maintaining comprehensive access control across all platforms.
Solution Approach 2:
The centralized access control portal provides universal functionality to manage permissions across diverse third-party systems through a single interface. The system enables customers to control access to financial information, transaction data, and account details across multiple different platforms using one standardized mechanism, eliminating the need for system-specific management procedures.
2Adaptability or versatility
If customers authorize multiple third-parties to access their information, then the versatility and utility of their financial data increases, but the complexity of managing access permissions increases
Solution Approach 1:
The patent merges the management of multiple access permissions into a single centralized system. Instead of maintaining separate access control mechanisms for each third-party system, the invention provides one unified portal that consolidates all permission management functions, thereby reducing system complexity while supporting versatile data access across multiple platforms.
Solution Approach 2:
The centralized access control portal acts as an intermediary between the customer's financial information and multiple third-party systems. This mediator layer simplifies the complexity by providing a single point of control that manages all external access requests, allowing versatile data sharing while maintaining streamlined permission management.
3Measurement precision
If customers log into each third-party system to manage access, then precise control over each system's permissions is achieved, but the time and effort required increases
Solution Approach 1:
The patent combines multiple permission control operations into a single centralized interface. Customers can review, modify, and revoke access permissions for all third-party systems simultaneously through one portal, eliminating the need to log into each system individually. This merging maintains precise permission control while dramatically reducing the time and effort required for access management.
Data Source
AI summary
Systems, methods, and apparatuses for providing a customer a central location to manage permissions provided to third-parties and devices to access and use customer information maintained by a financial institution are described. The central location serves as a central portal where a customer of the financial institution can manage all access to account information and personal information stored at the financial institution. Accordingly, the customer does not need to log into each individual third-party system or customer device to manage previously provided access to the customer information or to provision new access to the customer information.