Chatbot Transaction Processing for Timed Chat-Based Fund Transfers
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Solution Overview
Problem
Users find it tedious to transfer funds and negotiate in real-time using chat sessions due to the complexity of accessing financial accounts and the distributed nature of chat applications, which discourages their use.
Innovation Solution
A bot application processes financial transactions and provides real-time recommendations by accessing chat texts, determining transaction feasibility, linking payment accounts, and facilitating fund transfers through a chat bot, while also offering negotiation assistance.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If users manually access financial accounts through traditional methods, then transaction security and account management are maintained, but the process becomes tedious and overly complicated, discouraging user engagement
Solution Approach 1:
The patent introduces a chat bot as an intermediary that mediates between users and financial account systems. The chat bot processes natural language commands, automatically retrieves account information, and executes transactions without requiring users to navigate complex banking interfaces. This intermediary layer simplifies the interaction while maintaining security protocols.
Solution Approach 2:
The system performs preliminary actions by pre-linking payment accounts to chat applications and pre-authorizing transaction frameworks before actual fund transfers occur. Users can set up account connections and transaction preferences in advance, so that when a transaction is initiated through chat, the system can execute it rapidly with minimal additional verification steps.
2Adaptability or versatility
If chat applications are distributed over the communication system, then user communication flexibility and platform independence are improved, but conducting negotiations and transactions becomes difficult due to system fragmentation
Solution Approach 1:
The patent implements a universal chat bot framework that can operate across multiple distributed chat applications and platforms. The bot uses standardized communication protocols and interfaces that work consistently across different chat applications, allowing users to initiate and complete financial transactions regardless of which chat platform they use. This multi-functional approach maintains adaptability while simplifying the coordination complexity.
3Productivity
If automated bot processing is implemented for financial transactions, then transaction speed and user experience are improved, but system security requirements and verification complexity increase
Solution Approach 1:
The system implements self-service mechanisms where the chat bot automatically performs verification tasks using pre-configured security protocols. Users authenticate their identities and authorize transactions through automated processes within the chat interface, eliminating the need for manual verification steps. The bot handles security checks, account validation, and transaction confirmation autonomously, maintaining high security standards while preserving fast processing speeds.
Data Source
AI summary
A chat bot can be coupled with a chat session, the chat session being hosted by a chat service to facilitate communication between chat application instances. The chat bot can simulate one of the plurality of chat application instances. A first chat text can be accessed via the chat bot, the first chat text provided via the chat session by a first chat application instance. A financial transaction can be determined from the first chat text. In response to determining that the financial transaction can be performed, a second chat text can be transmitted, via the chat bot, to the chat session. The second chat text can indicate to the first chat application instance that the financial transaction will be performed after expiration of a time-out period. In response to the expiration of the time-out period, the financial transaction can be performed.