Cross-Network Resource Event Authorization System
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Solution Overview
Problem
Current systems for real-time processing of resource events are limited in their ability to initiate and conduct such events across multiple digital channels and disparate real-time processing networks, lacking mechanisms for authorization and compliance with varying national regulations and rules.
Innovation Solution
A system that authorizes and processes resource events across international real-time processing networks by determining and applying specific processing parameters, including settlement and conversion rules, ensuring compliance with national regulations and rules, and utilizing a computing platform with executable instructions to initiate and manage resource events.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If real-time processing of resource events is triggered by physical presentation of resources or resource depository identifier, then the processing can be initiated, but it is limited in ability to conduct resource events across multiple different digital channels
Solution Approach 1:
The system enables a single resource event processing framework to handle multiple digital channels (mobile devices, tablets, computers, wearables) through unified authentication mechanisms. The authentication server and resource depository work together to validate resource events regardless of the digital channel used, making the system universal across different platforms and devices.
2Adaptability or versatility
If real-time processing is initiated across disparate real-time processing networks, then cross-network resource events become possible, but authorization and compliance with varying national regulations becomes complex
Solution Approach 1:
The system introduces an authentication server as an intermediary between resource events and resource depositories across disparate networks. This intermediary validates resource events against stored authentication information and determines compliance with applicable regulations, simplifying the authorization process across multiple networks and jurisdictions.
Solution Approach 2:
The system adapts processing parameters based on the specific network and jurisdiction involved in each resource event. By dynamically adjusting authorization requirements and compliance checks according to the destination network and applicable national regulations, the system handles cross-network complexity without requiring identical processing for all events.
3Speed
If resource events are processed in real-time across international networks, then settlement speed improves, but ensuring compliance with national regulations and acceptable jeopardy limits requires additional processing
Solution Approach 1:
The system performs preliminary authentication by storing authentication information in advance during account setup. When a resource event occurs, the system quickly retrieves and validates this pre-stored information rather than performing full authentication from scratch, enabling rapid real-time processing while ensuring compliance.
Solution Approach 2:
The authentication server provides immediate feedback on whether a resource event is authorized and compliant with regulations. This feedback mechanism allows the system to quickly determine acceptability of jeopardy and authorization status, enabling real-time settlement decisions without prolonged verification delays.
Data Source
AI summary
Initiating the processing of resource events across disparate real-time processing networks, such as networks located international. In order to facilitate such resource events determinations are made that authorize the resource event participants to conduct the resource event across the international real-time processing networks. Once properly authorized the present invention provides for processing parameters to be determined, which may be specific to anyone of the resource participants and/or international real-time processing networks. Such processing parameters may be related to rules associated with settlement of the resource event, conversion rules for the international conversion of resources, resource sponsorship and the like. Once the resource event has been authorized and processing parameters determined, commands are sent to the respective interconnected international real-time processing networks that initiate the real-time processing of the resource event.