Encoded Transfer Instruments for Real-Time Error Validation
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Solution Overview
Problem
Conventional resource transfer systems require manual generation and review of transfer instruments, leading to delayed detection of inconsistencies and errors, which can cause electronic transfers to fail, and expose sensitive data as human-readable, increasing the risk of unauthorized transfers.
Innovation Solution
Generate electronic transfer instruments with encoded, non-human readable data, using QR codes or holograms, and utilize imaging devices to automatically read and validate the data in real-time, correcting errors before transmission.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If manual generation and review of transfer instruments is used, then human-readable data can be easily understood and processed, but errors and inconsistencies are not detected until days later, causing transfer failures
Solution Approach 1:
The patent replaces manual visual inspection of human-readable transfer instrument data with automated imaging devices and optical character recognition systems. The imaging device captures images of the transfer instrument, and software automatically extracts and validates the data, eliminating the time delay associated with manual review and enabling immediate error detection.
Solution Approach 2:
The system enables self-validation of transfer instruments through automated processing. The imaging device and associated software automatically read, extract, and validate the transfer data without requiring manual intervention, allowing the system to self-correct errors before transmission occurs.
2Object-affected harmful factors
If human-readable data is used in transfer instruments, then data can be easily read and processed, but sensitive information is exposed to interception and unauthorized transfers
Solution Approach 1:
The patent replaces human-readable text with machine-readable encoded formats such as QR codes or barcodes. These encoded representations contain the same transfer information but are not easily readable or copyable by humans, thereby protecting sensitive data from interception while still allowing automated imaging devices to read and process the information efficiently.
3Productivity
If automated imaging devices are used to read transfer instruments, then real-time validation and error correction are possible, but the system complexity increases
Solution Approach 1:
The patent employs a multi-functional integrated system where the imaging device serves multiple purposes: capturing images of transfer instruments, extracting data through optical character recognition, validating the extracted information against predefined criteria, and triggering error corrections. This consolidation of functions into a single system reduces overall complexity compared to having separate devices for each function while maintaining high productivity.
Data Source
AI summary
Disclosed are systems and methods for generating encoded instruments that implement electronic transfers. The system converts instruments to an electronic format using an imaging source or optical code detection device. The image data is processed to decode encoded components of the image data and to determine content elements and segments of the electronic transfer instrument and to extract transfer data. The transfer data is validated to facilitate secure, accurate execution of the electronic transfer.