Rule-Based Finance Automation for Fluctuating Account Conditions
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Solution Overview
Problem
Current automatic savings or bill payment systems are limited to fixed amounts and cannot adjust based on fluctuating financial conditions, preventing users from achieving intricate control over their finances.
Innovation Solution
A dynamic personalizable automated finance management system that allows users to create customizable rules for transferring money based on user-defined criteria, including evaluation triggers and conditions, enabling dynamic adjustments to account balances and other factors.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Extent of automation
If fixed amount automatic payment systems are used, then automation is achieved, but adaptability to fluctuating financial conditions deteriorates
Solution Approach 1:
The patent implements dynamic payment rules where transfer amounts are not fixed but calculated based on real-time account balances and user-defined conditions. The system continuously evaluates financial variables (balances, income, expenses) and automatically adjusts payment amounts accordingly, transforming static automatic payments into dynamic adaptive payments that respond to changing financial conditions.
Solution Approach 2:
The system changes the payment parameter from a fixed amount to a variable amount determined by evaluating multiple financial conditions. Users define rules that specify how payment amounts should be calculated based on account balances, income levels, and other financial metrics, allowing the payment system to adapt its parameters dynamically rather than executing rigid fixed transfers.
2Adaptability or versatility
If dynamic conditional rules are implemented, then adaptability improves, but system complexity increases
Solution Approach 1:
The patent segments the financial management system into modular rule components, where each rule handles a specific payment scenario with defined conditions and actions. Users can create, modify, and manage individual rules independently, and the system evaluates them in a structured sequence. This segmentation reduces complexity by breaking down the overall system into manageable, independent rule units rather than a monolithic complex system.
Solution Approach 2:
The system provides self-service capabilities where users can easily create and manage their own dynamic payment rules through an intuitive interface. The automatic evaluation and adjustment of payment amounts occurs without requiring complex manual intervention or system configuration, allowing users to benefit from dynamic adaptability while the system handles the computational complexity automatically.
3Extent of automation
If rigid savings schedules are enforced, then automation is achieved, but ease of operation deteriorates
Solution Approach 1:
The patent transforms rigid savings schedules into dynamic savings plans that automatically adjust transfer amounts based on real-time financial conditions. Users define flexible rules that specify how much to save under different circumstances (e.g., percentage of income, fixed amount when balance exceeds threshold), allowing the system to automatically manage savings while adapting to changing financial situations without requiring manual intervention.
Data Source
AI summary
A dynamic personalizable automated finance management system that provides a financial management platform that enables users to easily generate a plurality of customized rules or conditions associated with one or more accounts thereby creating account plans that intelligently and passively execute the transfer of funds among accounts. The rules with a plan are able to define if, how much, when and where to transfer money to and from the accounts based on user entered criteria or triggers upon which the rules/conditions are based.