Integrating Instant Messaging Into Financial Data Displays

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Solution Overview

Problem

The financial-services industry faces inefficiencies in online trading due to the separation of instant-messaging functionality from financial data, requiring users to switch between applications, leading to time-consuming communication processes and potential lost trade opportunities.

Innovation Solution

Integration of presence indication and instant-messaging functionality into financial-data displays, allowing users to initiate communications directly from financial-data windows with associated presence indicators and instant-messaging addresses, and supporting multiple communication systems.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Ease of operation

If instant-messaging functionality is accessed separately from financial data displays, then users can communicate with trading partners, but the communication process becomes time-consuming and requires switching between applications

Engineering Contradiction:

Improveease of initiating communicationVSAvoidtime to initiate and complete communication

Core Design Contradiction:

Ease of operationVSLoss of time

Solution Approach 1:

The patent combines instant-messaging functionality directly into the financial data display window by integrating a presence indicator and instant-messaging address with the financial data. This allows users to initiate communication without switching applications, directly resolving the contradiction by merging two previously separate functions into one unified interface.

Inventive Principle:

Principle #5Merging (Combining)

Solution Approach 2:

The financial data display window is enhanced to serve multiple functions: displaying financial information, showing presence status of trading partners, and enabling instant messaging. This multi-functionality eliminates the need for separate applications and resolves the time loss associated with switching between tools.

Inventive Principle:

Principle #6Universality (Multi-functionality)

2Productivity

If users switch between financial data windows and instant-messaging applications, then communication can be initiated, but the number of user actions increases and trade opportunities may be lost

Engineering Contradiction:

Improvespeed of communication initiationVSAvoidnumber of applications and steps required

Core Design Contradiction:

ProductivityVSDevice complexity

Solution Approach 1:

By merging the instant-messaging interface into the financial data display, the patent reduces device complexity from multiple separate applications to a single integrated window. This consolidation directly improves productivity by eliminating the need for users to switch between applications and reduces the number of steps required to initiate communication.

Inventive Principle:

Principle #5Merging (Combining)

Solution Approach 2:

The presence indicator and instant-messaging address are displayed in advance within the financial data window, allowing users to prepare for communication without leaving the current context. This preliminary arrangement of communication tools within the financial interface reduces the actions required and accelerates communication initiation.

Inventive Principle:

Principle #10Preliminary action

3Loss of time

If instant-messaging functionality is integrated into financial data displays, then communication efficiency improves, but the system complexity increases

Engineering Contradiction:

Improvetime for communication tasksVSAvoidintegration of multiple functions

Core Design Contradiction:

Loss of timeVSDevice complexity

Solution Approach 1:

The patent implements a universal financial data display window that handles multiple functions including data display, presence indication, and instant messaging. While this increases functional integration, it reduces overall system complexity by consolidating what would otherwise require multiple separate applications, thereby reducing time for communication tasks.

Inventive Principle:

Principle #6Universality (Multi-functionality)

Data Source

PatentUS10225373B2Financial-information systems, methods, interfaces, and software

Publication Date: 2019.03.05 THOMSON CORP

AI summary

Within the financial-services industry, there are online centers that allow brokers to match sellers with buyers of financial instruments based on indications of interest. To follow up on these indications of interest, users of such centers are now using proprietary instant-messaging (IM) systems, which allow them to instantaneously exchange text messages over the Internet with other users. The present inventor recognized that these communications are often inconvenient because the IM programs are isolated from the financial information. Accordingly, he devised systems, methods, and software that integrate IM and other communications-related functions into financial-data displays. Ultimately, one of more of these or other embodiments promise improved efficiency and convenience of online interactions not only for financial trading partners and others in the financial-services industry, but also for those in any private, public, and commercial domain where rapid or convenient online communication is desirable.