Multi-lender Loan Management System Using JSON APIs
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Solution Overview
Problem
Existing loan origination systems face inefficiencies due to large overhead in processing and size, particularly with legacy XML-based interfaces, which degrade performance and hinder seamless multi-lender loan management processes.
Innovation Solution
A multi-lender loan management system is introduced, featuring an external and internal network gateway, messaging service, API modules, and microservices that communicate via the messaging service, utilizing RESTful APIs and JSON-based object models to streamline loan applications and offers management, including identity verification, contract storage, and pricing calculations.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Stability of the object's composition
If legacy XML-based interfaces are used for transmitting loan applications, then system compatibility and data structure standardization are improved, but processing overhead and system size increase, degrading performance
Solution Approach 1:
The patent changes the data format parameter from XML to JSON, which maintains data structure standardization while reducing processing overhead. JSON's lighter syntax and more natural mapping to programming language data structures enable faster parsing and processing, directly resolving the contradiction between standardization and processing efficiency
Solution Approach 2:
The patent substitutes the XML-based mechanical interface system with a JSON-based alternative. This substitution replaces the heavy, verbose XML structure with a more efficient JSON format that requires less processing power and memory, thereby reducing processing overhead while maintaining data exchange capabilities
2Stability of the object's composition
If legacy XML-based interfaces or fax machines are used for transmitting loan applications, then system compatibility is maintained, but transmission speed and processing efficiency deteriorate
Solution Approach 1:
The patent changes the interface format parameter from XML to JSON, which improves transmission speed while maintaining compatibility. JSON's streamlined structure enables faster serialization and deserialization, directly addressing the speed issue without sacrificing the ability to exchange loan application data between systems
Solution Approach 2:
The patent creates a modern JSON-based copy of the loan application transmission interface, replacing the outdated XML format. This copy maintains the essential data exchange functionality and compatibility requirements while implementing a more efficient transmission mechanism that operates at higher speeds
3Device complexity
If a single-lender application system is used, then system complexity is reduced, but multi-lender loan management capability is lost
Solution Approach 1:
The patent implements a unified loan management system that can handle both single-lender and multi-lender scenarios through a common interface. The system accepts loan application data in a standardized format and routes it to appropriate lender(s), providing multi-functionality that adapts to different business requirements without increasing complexity
Solution Approach 2:
The patent segments the loan management system into independent, modular components that can handle different lender configurations. The system divides the processing logic into discrete units that can be independently configured for single-lender or multi-lender operations, maintaining low complexity while achieving versatility through modular architecture
Data Source
AI summary
In one aspect, the present disclosure relates to a multi-lender loan management system comprising an external network gateway, an internal network gateway, a messaging service, a plurality of Application Programming Interface (API) modules coupled between the external network gateway and the internal network gateway, and a plurality of micro services coupled to the internal network gateway and configured to communicate with each other via the messaging service. API modules can include a client API module and a lender API module. Microservices can include a loan applications microservice and an offers microservice.