Goal Management System Centralizing User Data for Personalized Planning
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Solution Overview
Problem
Existing systems face challenges in acquiring and consolidating user data for personalized financial planning and goal management, as this data is often scattered across multiple platforms, making it difficult for institutions to provide tailored services and for users to achieve their financial goals.
Innovation Solution
A goal management system that includes a user interface for users to input data, a database to store this data, and a controller to present inquiries and track progress, connecting users with third-party service providers by aggregating and filtering user information to identify specific needs and provide relevant services.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If user data is collected across multiple platforms, then service providers can offer personalized services, but data acquisition becomes difficult and complex
Solution Approach 1:
The patent combines multiple data collection methods (manual input, automated importing from financial institutions, and user profile aggregation) into a unified goal management system. This merging allows the system to consolidate user data from various sources without requiring complex separate collection processes for each platform.
Solution Approach 2:
The goal management system acts as an intermediary between users and third-party service providers. It aggregates user data centrally and then selectively shares relevant information with service providers, simplifying the data acquisition process while enabling personalized services.
2Loss of information
If extensive information is requested from users, then service providers gain comprehensive knowledge, but users become less reluctant to provide information
Solution Approach 1:
The system segments information collection into distinct categories (personal information, financial data, goal-specific questions) and presents them as separate, manageable sections. This segmentation makes the overall process less overwhelming for users while ensuring comprehensive data collection.
Solution Approach 2:
The system performs preliminary data aggregation by automatically importing available information from linked financial accounts before presenting supplemental questions to users. This preliminary action reduces the burden on users by pre-filling forms with existing data.
3Reliability
If user data is stored across multiple platforms, then data security is maintained, but data consolidation for goal management becomes difficult
Solution Approach 1:
The goal management system serves as a secure intermediary that receives data from multiple platforms through standardized interfaces, consolidates it in a centralized database, and then selectively shares information with service providers. This intermediary role enables consolidation without compromising the security architecture of source platforms.
Solution Approach 2:
The system implements a universal data aggregation framework that can interface with multiple different financial institutions and platforms through standardized methods. This multi-functional approach enables data consolidation from diverse sources while maintaining a consistent security model.
Data Source
AI summary
A goal management system, may include a memory configured to maintain a database of user inputted goal data, the goal data being acquired from users of a goal planning application, the goal planning application configured to provide inquiries to be responded to by the users in furtherance of goals of the users, and a controller configured to receive the user inputted goal data, present at least one admin screen including a plurality of selectable attributes and at least one user in a list of users associated with the user inputted goal data, receive selection of the at least one of the attributes, and update the list of users based on the selected at least one attribute to include users identified as requiring the at least one service provided by the third party service provider.