Consolidated Account Creation Interface for Simultaneous Application and Funding
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Solution Overview
Problem
Conventional network transaction systems are inefficient and insecure, requiring multiple user interactions for account creation and funding, and they often handle private security information in a way that violates regulatory standards by retaining it for too long.
Innovation Solution
The system provides a graphical user interface for simultaneous account application and funding, allowing for postponed account creation based on pre-requisite activities and offering dynamic funding options based on user characteristics, while securely managing private security information by deleting it after use.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If separate application processes are implemented for each account type, then account verification and security can be maintained, but user interaction time and complexity increase significantly
Solution Approach 1:
The patent combines multiple separate account application processes into a single unified application interface. Users can apply for multiple different account types simultaneously through one form rather than completing separate applications for each account type, thereby reducing repetition while maintaining verification security through a single consolidated process.
Solution Approach 2:
The unified application process serves multiple account types universally. A single application form and process can handle various account types (e.g., checking, savings, credit cards) that previously required separate specialized applications, making the system more versatile and efficient.
2Reliability
If private security information is retained for verification purposes, then account security and identity verification are ensured, but regulatory compliance is violated by holding information too long
Solution Approach 1:
The system performs identity verification and collects necessary security information upfront during the initial application process. Once verification is complete and the account is approved, the sensitive information is securely deleted from the system, ensuring both verification security and regulatory compliance by limiting retention time to only what is necessary.
Solution Approach 2:
The patent implements a policy where private security information is discarded (deleted) after it has served its verification purpose. The system recovers only the essential account creation data while discarding sensitive PII (personally identifiable information) once verification is complete, thereby maintaining security standards and meeting regulatory requirements for data retention.
Data Source
AI summary
The present disclosure relates to method, systems, and non-transitory computer-readable media for building accounts of a digital system using one or more improved graphical user interfaces. For example, in one or more embodiments, the disclosed systems provide a consolidated graphical user interface for applying for multiple user accounts simultaneously utilizing application information received via an enrollment workflow. In some cases, upon application to the multiple accounts, the disclosed system creates at least one account and puts a hold on at least one other account until one or more additional requirements are met. Further, the disclosed systems can provide a graphical user interface that facilitates funding of an account by, for example, supplying options corresponding to suggested transfer amounts determined from user account characteristics. In some cases, the disclosed systems provide a visual animation of transferring funds between accounts, thereby efficiently communicating the funding and how the transfer affects such accounts.