Layered Address Property Matching for Emerging Markets
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Solution Overview
Problem
Traditional address matching algorithms fail to accurately match addresses in emerging markets due to varying formats, quality issues, and inconsistencies, leading to overmatching and undermatching, which affects the reliability of database records and credit assessment processes.
Innovation Solution
A system and method that extracts primary properties and modifiers from street addresses, storing them in address property containers and comparing them in a layered approach to determine matches, with the first layer focusing on primary property mismatch and the second layer analyzing modifiers for further matching.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If traditional address matching algorithms are used, then processing speed is improved, but matching accuracy deteriorates due to overmatching and undermatching
Solution Approach 1:
The address matching algorithm is segmented into multiple layers: first layer extracts and compares primary properties (house numbers, street names), second layer compares modifiers (directions, suffixes), and third layer performs detailed token comparison. This segmentation allows the system to quickly eliminate non-matching addresses in early layers while ensuring high accuracy in later layers, resolving the contradiction between processing speed and matching accuracy.
2Productivity
If traditional single-field key searching is used, then database search efficiency is improved, but reliability deteriorates due to false positives and false negatives
Solution Approach 1:
The system transitions from single-field key searching to multi-dimensional address property comparison. Instead of relying on a single composite key, the algorithm extracts multiple properties (house numbers, street names, modifiers, tokens) and compares them across different dimensions in a layered approach. This dimensional expansion maintains search efficiency while significantly improving reliability by reducing false positives and false negatives through comprehensive multi-criteria verification.
3Measurement precision
If address formats are standardized, then matching accuracy is improved, but adaptability deteriorates due to varying address formats in emerging markets
Solution Approach 1:
The algorithm dynamically adjusts its matching parameters and thresholds based on the specific address formats encountered. Instead of enforcing a single standardized format, the system extracts properties and modifiers according to the actual format of each address, adapting its comparison criteria accordingly. This parameter flexibility allows the algorithm to maintain high matching accuracy across diverse address formats from both developed and emerging markets.
Data Source
AI summary
Various embodiments of the present disclosure provide a system and method for matching two or more addresses. In one embodiment, the system and method includes extracting certain strings or tokens from the addresses, storing the extracted portions into address property containers, and comparing the extracted properties in a layered approach based on the information constructed in the address property containers. In the first layer, the primary properties of the first address are compared to the primary properties of the second address. In the second layer, for each common primary property the modifiers associated with the common primary property of the first address are compared to the modifiers associated with selected primary properties of the second address.