Dynamic User Issuer Pairing for Financial Transactions

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Solution Overview

Problem

Current methods for financial transactions online or via mobile devices limit users' awareness of promotions and financial credibility, making it inconvenient to find suitable financial institutions for transactions, especially when trying to save on fees or conduct transactions with institutions without an account.

Innovation Solution

A dynamic user/issuer pairing system that sends transaction details and account identifiers to multiple issuer servers, receives and analyzes fee bids based on predetermined criteria, and presents suitable issuers to users, allowing for efficient transaction processing across various accounts.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Loss of information

If users use traditional payment methods with limited financial institution options, then the process is simple, but users are limited in awareness of promotions and financial credibility

Engineering Contradiction:

Improveawareness of promotions and financial credibilityVSAvoidtransaction processing complexity

Core Design Contradiction:

Loss of informationVSDevice complexity

Solution Approach 1:

The system introduces a payment network as an intermediary between users and multiple financial institutions. This intermediary automatically handles the complexity of comparing issuers, reviewing promotions, and evaluating financial credibility, while presenting simplified options to users. The payment network mediates the transaction process, allowing users to access comprehensive financial institution information without manually navigating complex comparison processes.

Inventive Principle:

Principle #24Intermediary (Mediator)

2Loss of information

If financial institutions post promotions online for users to review, then users can access promotion information, but the process remains time-consuming and lacks automated matching

Engineering Contradiction:

Improveaccess to promotion informationVSAvoidtime for reviewing and selecting accounts

Core Design Contradiction:

Loss of informationVSLoss of time

Solution Approach 1:

The system enables self-service by automatically matching users with suitable financial institutions based on their transaction needs and financial profiles. Instead of manually reviewing multiple promotion postings and application forms, users initiate a transaction through the payment network, which automatically compares available issuers against predetermined criteria and presents matched options. This automated self-service reduces the time users would otherwise spend manually reviewing and selecting accounts.

Inventive Principle:

Principle #25Self-service

Solution Approach 2:

The system changes the parameters of the matching process by using automated algorithms that evaluate multiple issuers against dynamic criteria such as transaction type, user financial profile, and promotion terms. This parameter-based automated evaluation replaces manual review processes, efficiently comparing multiple financial institutions simultaneously based on relevant transaction parameters and presenting optimized matches to users.

Inventive Principle:

Principle #35Parameter changes

3Reliability

If users manually review application forms and contact financial institutions, then detailed user information is collected, but the process is inefficient and provides limited insight into user financial credibility

Engineering Contradiction:

Improveassessment of user financial credibilityVSAvoidtransaction processing efficiency

Core Design Contradiction:

ReliabilityVSProductivity

Solution Approach 1:

The system implements feedback mechanisms where the payment network continuously monitors transaction data and user financial behavior to build and update financial credibility profiles. This feedback loop allows the system to automatically assess user financial credibility based on actual transaction patterns rather than relying solely on static application forms. The feedback-driven profile building enables more accurate and efficient matching of users with suitable financial institutions.

Inventive Principle:

Principle #23Feedback

Solution Approach 2:

The system replaces the mechanical manual review process with automated electronic assessment mechanisms. Instead of manually reviewing application forms and contacting institutions, the system uses automated algorithms that process transaction data, financial profiles, and promotion criteria to evaluate user credibility and match suitable issuers. This substitution of mechanical manual processes with automated electronic systems significantly improves both reliability of assessment and processing efficiency.

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

Data Source

PatentUS11568381B2Apparatus and method for dynamic user/issuer pairing

Publication Date: 2023.01.31 MASTERCARD INT INC

AI summary

In one aspect, an apparatus for setting a dynamic user/issuer pairing is provided, comprising:at least one processor; andat least one memory including computer program code;the at least one memory and the computer program code configured to, with the at least one processor, cause the apparatus at least to:send transaction details and an account identifier to a plurality of issuer servers belonging to a corresponding plurality of issuers, the transaction details relating to a transaction initiated by a user and the account identifier identifying the user;receive issuer fee bids submitted by one or more issuers who have received the transaction details and the account identifier, the one or more issuers being those available to conduct the transaction; andanalyze the issuer bids based on predetermined criteria associating with the account identifier to present to the user at least one issuer among the one or more issues who have submitted the issuer bids.