Computer Readable Media Solicitation with Encrypted Application Logic
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Solution Overview
Problem
Traditional solicitation methods, including printed materials and electronic communications, face low response rates due to privacy concerns, complexity, and competition from junk mail, leading to inefficiencies in promoting financial products and services.
Innovation Solution
The use of computer-readable media, such as optical compact disks (CDs) and smart cards, equipped with program instructions and encryption algorithms to present offers, gather customer information, and facilitate application processes in a secure and user-friendly manner, allowing customers to select and apply for financial products with enhanced privacy and convenience.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If traditional printed solicitation materials are distributed to customers, then product or service offers can be presented to customers, but customer response rates are low due to privacy concerns and the materials being treated as junk mail
Solution Approach 1:
The patent introduces a third-party neutral entity (the printed solicitation material itself) that mediates the transmission of offers from businesses to customers. This intermediary carries encrypted or pre-packaged application information that customers can submit without directly exposing their personal data to businesses initially, thereby reducing privacy concerns while maintaining productivity
Solution Approach 2:
The patent uses printed copies of solicitation materials that contain encoded or encrypted application information. Instead of requiring customers to input sensitive data online or over phone, the printed material serves as a physical copy that securely carries application data, reducing privacy risks associated with electronic data transmission while improving response rates
2Productivity
If elaborate multi-piece solicitation materials with colorful inserts are created to attract customer attention, then customer engagement may improve, but the complexity and cost of creation and printing increase
Solution Approach 1:
The patent extracts the essential solicitation function from complex multi-piece materials and concentrates it into a single integrated printed material. The key application information and offer details are embedded within one streamlined document, eliminating the need for multiple inserts while maintaining customer engagement through efficient information delivery
Solution Approach 2:
The patent changes the parameter of solicitation material structure from multiple separate pieces to a single integrated document. By altering the physical form and information organization parameters, the patent reduces complexity and printing costs while preserving the ability to engage customers effectively
3Loss of information
If application processes require customers to provide personal credit or financial information through complex forms, then businesses can gather necessary data, but customers find the process too complex or time-consuming and fail to respond
Solution Approach 1:
The patent performs preliminary action by pre-packaging or pre-encrypting application information within the printed solicitation material itself. Customers do not need to manually fill out complex forms or navigate multiple steps; the application data is already prepared and secured within the material, making the process simple and quick while ensuring complete information collection
Solution Approach 2:
The printed solicitation material serves itself by containing all necessary application information and instructions within the document. The material automatically guides customers through the application process without requiring external forms or complex procedures, thereby improving ease of operation while maintaining complete data collection
Data Source
AI summary
Systems and methods are provided for soliciting customers using solicitation media. The solicitation media distributed to customers may comprise computer readable media that stores information pertaining to offer(s) for one or more product(s) or service(s). The computer readable media may also be provided with logic or program instructions that cause the customer's computer to perform certain functions. By way of example, the functionality provided through the computer readable media may facilitate the selection of a product or service that is best suited for the customer's needs, as well as assist a customer to complete and/or submit an application or request for an offered product or service. In addition to serving as a solicitation tool, the computer readable media may also serve as a financial transaction card that is associated with a financial product offered to the customer, such as a credit card or debit card.