Executable App for Secure Monetary Transfer
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Solution Overview
Problem
Existing money transfer techniques via computing devices often compromise security, requiring exchange of sensitive information and may not withstand future attacks, and can be cumbersome due to app dependencies and fees.
Innovation Solution
An executable application is configured to automatically initiate a monetary transfer on a receiving device without direct communication beyond an initial exchange, using secure environments and minimal user information, allowing for secure and app-independent transactions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If traditional money transfer techniques are used, then transfers can be completed, but security is compromised due to exchange of sensitive information
Solution Approach 1:
The patent introduces a temporary executable application as an intermediary that mediates the money transfer process. Instead of directly exchanging sensitive financial information between user devices, the executable application acts as a secure intermediary that receives the transfer request, processes it through a secure environment, and completes the transfer without requiring the user devices to expose their sensitive information to each other. This resolves the contradiction by enabling transfers while preventing information exposure.
Solution Approach 2:
The executable application performs self-service by automatically executing the money transfer process once received and configured. It autonomously interacts with the secure environment, initiates the transfer through the messaging application, and completes the transaction without requiring continuous user intervention or exposure of sensitive information. The application serves itself to complete the transfer securely, resolving the security-information exposure contradiction.
2Ease of operation
If traditional money transfer apps are used, then transfers can be completed, but device complexity increases due to app dependencies
Solution Approach 1:
The patent extracts the money transfer functionality from existing banking applications and consolidates it into a single executable application that can be transmitted through any messaging application. By taking out the core transfer function and embedding it in a self-contained executable, the system eliminates dependencies on specific banking apps being pre-installed on user devices. This resolves the contradiction by simplifying device requirements while maintaining transfer capability.
Solution Approach 2:
The executable application is designed to be universal and can be transmitted through any messaging application platform (SMS, WhatsApp, Telegram, etc.), making it compatible with diverse devices and applications. This multi-functional approach allows the same executable to work across different messaging platforms and device types without requiring device-specific adaptations, thereby reducing app dependencies while maintaining ease of operation.
3Productivity
If traditional money transfer methods are used, then transfers can be completed, but time is lost due to multiple communication exchanges
Solution Approach 1:
The system performs preliminary action by pre-configuring the executable application with all necessary transfer parameters (recipient information, amount, sender account details) before transmission. The executable is prepared in advance with embedded instructions and secure environment configurations, so that upon receipt, it can immediately execute the transfer without requiring multiple back-and-forth communication exchanges to gather information. This preliminary preparation accelerates the transfer process and resolves the time-loss contradiction.
Data Source
AI summary
Systems and methods may generally include sending an executable application, which when executed, automatically causes a monetary transfer. An example method may include performing, at a first user device, a handshake with a second user device, receiving, during the handshake, an operating capability of the second user device, and configuring, based on the operating capability of the second user device, an executable application, which when executed, automatically causes a monetary transfer to occur. The configured executable application may be sent to the second user device for execution.