Client Data Aggregation Using User-Defined Tags
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Solution Overview
Problem
Current information management systems in the financial sector are inefficient, as they often lack uniformity, completeness, and linkage of client data, making it difficult to access and aggregate information across different clients and asset classes, which hinders effective client service provision.
Innovation Solution
A computer-based system with a networked server that uses a data accumulation engine to collect and filter user and client information using user-defined tags, providing a centralized access point for data management and improving information flow between users, clients, and third parties, while ensuring privacy through data scrubbing and neutralization.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Device complexity
If a complex filing system is created to manage client information, then data organization capability is improved, but data completeness and linkage between related clients deteriorates
Solution Approach 1:
The patent segments client information management into multiple independent data fields (client ID, name, contact info, financial data, etc.) that can be individually populated and linked. This allows the system to handle incomplete data gracefully while maintaining the ability to link related clients through shared identifiers, resolving the contradiction between system complexity and data completeness.
Solution Approach 2:
The patent introduces a centralized database as an intermediary that stores and links client information across different users and platforms. This database uses standardized client identifiers to connect related clients (such as spouses or family members) even when data is incomplete in individual user systems, enabling comprehensive information aggregation without requiring complex point-to-point linking.
2Ease of operation
If data is keyed solely to last_name for tracking clients, then ease of data entry is improved, but ability to link related clients with different last names deteriorates
Solution Approach 1:
The patent adds another dimension to client identification by introducing unique client identifiers (such as client ID numbers or unified account identifiers) that exist alongside traditional name-based fields. This allows the system to link clients through multiple dimensions (name, ID number, contact information, relationship markers) rather than relying solely on last_name, maintaining data entry simplicity while enabling versatile client linkage.
3Reliability
If information is not aggregated across clients, then data privacy and security are improved, but ability to provide comprehensive advisory services deteriorates
Solution Approach 1:
The patent implements local quality by allowing different levels of data aggregation and sharing based on user permissions, client consent, and data sensitivity. Sensitive information can be kept localized to individual users or organizations, while non-sensitive or aggregated information can be shared across the network to enable comprehensive advisory services. This resolves the contradiction by enabling selective information aggregation that maintains security while improving service capability.
Data Source
AI summary
A computer-based system to facilitate providing advisory services to clients, comprising a networked server computer having a data accumulation engine that accepts user information, client information of clients of the users, and a plurality of user-defined tags. The data accumulation engine is operable to accumulate data regarding actions of the user and information associated with the user's clients in accordance with the clients' respective associated tags. The server also has a filtering engine that filters the data responsive to user requests; and a service engine for use in providing services targeted to clients based on the filtered data.