Jailed Multi-Tenant Data Access for Parallel Lender Microservices
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Solution Overview
Problem
Consumers face challenges in optimizing financing for commodity purchases due to credit score impacts from loan inquiries, lack of integrated communication between sellers and banks, and sub-optimal loan terms, leading to higher interest rates and redundant information sharing, which affects the buying experience.
Innovation Solution
A multi-lender architecture with a vault that segregates data by lender, using interactive microservices to assess consumer-specific credentials against custom lender-specific requirements, guiding both parties through prequalification, eligibility, and pricing for a seamless purchase process.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If a consumer applies for multiple loan inquiries to compare financing options, then the consumer can find better loan terms, but the consumer's credit score drops and remains affected for several years
Solution Approach 1:
The patent combines multiple loan inquiries into a single consolidated application process. Multiple lenders access the consumer's credit information simultaneously through a unified interface, allowing the consumer to receive financing offers from multiple lenders without submitting separate applications. This merging approach enables the consumer to compare loan terms while incurring only a single credit score impact.
Solution Approach 2:
The patent introduces an intermediary platform that acts as a mediator between consumers and multiple lenders. This intermediary consolidates credit inquiry requests and manages the loan application process, allowing consumers to shop for financing without directly triggering multiple separate credit checks. The intermediary absorbs the complexity of coordinating multiple lender inquiries while protecting the consumer from repeated credit score penalties.
2Reliability
If sellers and banks operate separately without integrated communication, then each party maintains independence and control, but information is shared redundantly and loan terms are sub-optimal
Solution Approach 1:
The patent merges previously separate communication channels between sellers and banks into a unified integrated platform. This integration allows real-time information exchange between sellers, consumers, and multiple lenders through a common interface, eliminating the need for redundant information sharing while maintaining independent control of each party's data and processes.
Solution Approach 2:
The patent creates a universal platform that serves multiple functions simultaneously: it acts as a loan application system, a credit evaluation interface, a communication channel between parties, and a loan term comparison tool. This multi-functional system eliminates the need for separate communication channels and reduces information redundancy while preserving each party's independence.
3Adaptability or versatility
If consumers communicate with multiple separate lenders to complete a purchase, then the consumer can compare loan terms, but the consumer faces added inconvenience and communication complexity
Solution Approach 1:
The patent combines multiple separate lender communication interfaces into a single unified platform. Consumers can simultaneously interact with multiple lenders through one interface, comparing loan terms and making decisions without the inconvenience of managing multiple separate communications. The system consolidates what would otherwise require multiple distinct interactions into a single streamlined process.
Data Source
AI summary
The system and methods described herein allow users to give their applicant information to at least one entity when seeking to submit an inquiry associated with an item, and have various lender microservices run in parallel, segregated by entity, in a jailed environment. The result of these microservices may be returned as a response to the inquiry, being determined autonomously for each respective entity based on one or more respective rule sets or executable logic for each respective entity. Payloads for multiple entities may be combined in a single output from the jailed environment due to outputs from the environment being encrypted in a universal format.