Digital Transfer Instrument Augmentation for Pre-Transmission Verification
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Solution Overview
Problem
Conventional electronic transfer systems require manual marking of transfer instruments, which is cumbersome and time-consuming, especially for large volumes, and do not allow end users to verify electronic augmentations before transmission, leading to inefficiencies and friction when authorization formats are incorrect.
Innovation Solution
A system that uses electronic augmentations integrated with user computing devices to digitize transfer instruments, allowing end users to verify and edit these augmentations before transmission, using graphical user interfaces and machine learning algorithms to ensure proper placement and formatting, and incorporating these augmentations as metadata or digital image data.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If manual marking of transfer instruments is used, then authorization formats can be provided, but the process becomes extremely cumbersome and time-consuming for substantial volumes of transfers
Solution Approach 1:
The patent replaces manual mechanical marking with electronic augmentations that are automatically applied to transfer instruments. The system uses electronic devices to capture images of transfer instruments and applies electronic endorsements and markings, eliminating the need for physical manual marking and significantly increasing processing capacity.
Solution Approach 2:
The system enables automated application of electronic augmentations to transfer instruments without requiring manual intervention for each instrument. The electronic augmentation process is self-executing, with the system automatically capturing, processing, and applying endorsements to substantial volumes of transfers efficiently.
2Extent of automation
If electronic augmentations are applied according to predefined settings, then automation is improved, but end users cannot verify the augmentations prior to transmission
Solution Approach 1:
The patent implements a feedback mechanism that presents the applied electronic augmentations to the end user for verification before transmission. The system displays the electronic endorsements and markings on the transfer instrument image, allowing the user to review and confirm accuracy, thus maintaining both automation and reliability.
3Productivity
If electronic augmentations are applied without user verification, then processing speed is improved, but errors in authorization formats are not detected until after transfer denial
Solution Approach 1:
The system performs preliminary verification by presenting electronic augmentations to the end user before transmission occurs. This allows errors in authorization formats to be detected and corrected in advance, preventing transfer denials and eliminating the need for post-denial notifications.
4Ease of operation
If manual marking is used, then user control over augmentations is maintained, but the process becomes cumbersome for substantial volumes
Solution Approach 1:
The patent implements a dynamic system that adapts to user needs by providing configurable settings for electronic augmentations. Users can define predefined settings for different scenarios, allowing the system to automatically apply appropriate augmentations while maintaining user control over the parameters and types of markings applied.
Data Source
AI summary
Disclosed are systems and methods for generating and augmenting digital instruments that implement electronic transfers. The system converts instruments to a digital format and applies electronic augmentations in the form of metadata or layered optically perceptible data that can be verified or edited. The electronic augmentations are integrated with the digital instrument prior to transmitting the instrument to a third party to initiate transfer execution.