Data Transfer Completion via Transferee-Selected Transfer Options
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Solution Overview
Problem
Existing data transfer systems often lack flexibility, as the transferor dictates the transfer method without considering the transferee's preferences, potentially leading to methods that are not acceptable or efficient for the transferee.
Innovation Solution
A server system that allows the transferee to select a transfer method with additional requirements, such as identity verification or account information provision, to reduce or eliminate input-output modifiers like fees, using a digital identity network and API, thereby offering a choice between real-time and non-real-time transfer options.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If the transferor selects the transfer method, then the transferor has control over the transfer process, but the transferee may not accept the selected transfer method
Solution Approach 1:
The system dynamically shifts control from the transferor to the transferee by providing selectable transfer methods in the electronic message. The transferee can choose from multiple transfer methods (e.g., real-time transfer, scheduled transfer, bulk transfer) and additional requirements (e.g., identity verification, account information provision) that are presented as options rather than imposed conditions, allowing the transfer process to adapt to the transferee's preferences while maintaining system control.
2Reliability
If the transferor imposes additional requirements on the transfer method, then the transfer method becomes more secure or compliant, but the transferee's acceptance decreases
Solution Approach 1:
The system allows the transferee to self-select additional requirements and transfer methods that they find acceptable. Rather than the transferor imposing requirements, the system presents multiple options including additional requirements (such as identity verification through digital identity networks or provision of account information via APIs) and lets the transferee choose what they are willing to complete, making the transfer process adaptable to their security comfort level and preferences.
3Speed
If real-time transfer is selected, then the transfer speed increases, but additional requirements and costs may be imposed
Solution Approach 1:
The system changes the parameters of the transfer process by presenting multiple transfer methods with different speed and requirement profiles. The transferee can select real-time transfer if they want speed and are willing to meet additional requirements (such as identity verification or account information provision), or choose alternative transfer methods that are slower but have fewer or different requirements. This allows the transfer parameters to be customized based on the transferee's needs and constraints.
Data Source
AI summary
A server comprises a communications module; a processor coupled with the communications module; and a memory coupled to the processor and storing processor-executable instructions which, when executed by the processor, configure the processor to receive, via the communications module and from a first computing device, a signal representing a data transfer request, the data transfer request including at least a transfer amount and a transfer address; send, via the communications module and to the transfer address, a signal including an electronic message, the electronic message including the transfer amount and at least one selectable option defining a transfer method, the at least one selectable option including a first selectable option defining a first transfer method that includes an additional requirement not required by a second transfer method; receive, via the communications module and from a second computing device, a signal indicating a selection of the at first selectable option defining the first transfer method; determine that the additional requirement has been completed; and when it is determined that the additional requirement has been completed, complete the data transfer using the first transfer method.