Institutional Data Share Platform API Security
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Solution Overview
Problem
There is a need for a platform that allows customers and commercial partners to access financial institution data for application development, while ensuring security and monitoring of data usage, as existing solutions lack comprehensive data sharing and access control mechanisms.
Innovation Solution
A financial institution provided data share platform that enables secure access to data through an API, allowing customers and partners to request and utilize financial institution data for application development, with built-in security functions, monitoring, and assessment analysis.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If data sharing access is provided to customers and commercial partners, then application development capabilities are enhanced, but data security risks increase
Solution Approach 1:
The patent introduces a data share platform as an intermediary between the financial institution and external developers. This platform acts as a mediator that provides controlled access to data through API endpoints, allowing application development while maintaining security through centralized authentication, authorization, and monitoring mechanisms.
Solution Approach 2:
The patent segments data access into distinct categories (customer data, merchant data, transaction data) with different access levels and permissions. The system divides access rights based on user roles (customers, commercial partners, developers) and implements fine-grained control over which data can be accessed and how it can be used.
2Reliability
If comprehensive data access control mechanisms are implemented, then data security is improved, but system complexity increases
Solution Approach 1:
The patent implements a universal authentication and authorization framework that handles multiple types of access requests (customer data access, merchant data access, developer API calls) through a single integrated system. The platform provides multi-functional capabilities including user authentication, role-based access control, data usage monitoring, and assessment analysis all within one unified architecture.
3Reliability
If data usage monitoring is implemented, then data security is enhanced, but operational overhead increases
Solution Approach 1:
The patent implements continuous monitoring that provides feedback to the system administrator about data access patterns, usage metrics, and potential security issues. The monitoring function tracks authentication events, data retrieval operations, and API calls, providing real-time and historical data that enables proactive security management and automated alerting.
Data Source
AI summary
Embodiments of the invention are directed to a system, method, or computer program product for an institution provided data share platform. The institution provided data share platform allows customers and commercial partners to access data the institution may have. Specific platform data access may be limited and/or monitored by the institution to ensure customer safety and privacy compliance. Allowing access to the institution data provides a customer the means to create customized applications utilizing the data in combination with data provided by the customer. In return for access to the platform, the institution may recover assessments based on the application the customer creates.