Dynamic Fund Transfer Adjustment for Network-Enabled Property Maintenance
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Solution Overview
Problem
Existing systems lack an efficient method to dynamically adjust financial transfers for maintenance, repair, or replacement of network-enabled properties based on actual usage data, leading to potential misallocation of funds and inefficient resource management.
Innovation Solution
A method and system that create a designated account for maintenance, repair, or replacement of network-enabled properties, which automatically adjusts transfer amounts based on usage data from these properties, using a financial institution computer system to periodically transfer funds, taking into account manufacturer recommendations and usage patterns.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If fixed periodic transfers are used for maintenance funds, then simplicity of fund management is improved, but accuracy of fund allocation deteriorates
Solution Approach 1:
The system transitions from static fixed periodic transfers to dynamic transfers that automatically adjust based on real-time usage data from IoT devices. The transfer amount is recalculated periodically based on actual consumption patterns, transforming the fund allocation mechanism from rigid to adaptive while maintaining automated operation.
Solution Approach 2:
The system implements a feedback loop where usage data from network-enabled properties is continuously collected, analyzed, and used to adjust future transfer amounts. This closed-loop control ensures that fund allocations respond to actual needs while maintaining the simplicity of automated transfers.
2Measurement precision
If manual adjustment of transfer amounts is used, then accuracy of fund allocation is improved, but complexity of fund management deteriorates
Solution Approach 1:
The system enables self-service automation where the fund management system automatically collects usage data from IoT devices, calculates appropriate transfer amounts, and executes transfers without human intervention. This eliminates manual complexity while maintaining high accuracy through automated data-driven decision-making.
Solution Approach 2:
The patent replaces manual mechanical processes (human calculation and adjustment of transfer amounts) with automated electronic systems that collect data from IoT devices, process information through algorithms, and execute transfers automatically. This substitution eliminates human error and operational complexity.
3Ease of manufacture
If transfers are based on estimated usage, then ease of implementation is improved, but reliability of fund allocation deteriorates
Solution Approach 1:
The system performs preliminary setup by establishing automated data collection from IoT devices and configuring transfer parameters in advance. Once implemented, the system automatically executes accurate transfers based on actual usage without requiring ongoing manual estimation or adjustment, ensuring both ease of operation and reliability.
Solution Approach 2:
By implementing continuous feedback from actual usage data, the system replaces estimated usage with measured usage. The feedback loop ensures that transfer amounts are reliably based on real consumption patterns rather than estimates, while the automated nature maintains ease of implementation.
Data Source
AI summary
Systems and methods of automatically adjusting a transfer amount to an account on a financial institution computer system associated with a network enabled property from one or more accounts associated with users of the property are described. The methods can include creating a first account on the financial institution computer system with the account designated for maintenance, repair, or replacement of the network enabled property, receiving or identifying a designated amount of money to automatically transfer periodically to the account associated with the property from the one or more accounts associated with users of the property, and creating an automated periodic transfer between the accounts. After receiving data comprising amount of use by one or more users, the method may further include updating the amount of the automated periodic transfer based on at least the designated amount and the data comprising the amount of use by the users.