Loyalty Program Database Integration for Money Transfer Systems
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Solution Overview
Problem
Current money transfer systems face challenges in effectively marketing services to consumers due to limited identity information required for transactions, making it difficult to target relevant groups and individuals, and existing loyalty programs like MoneySaver are limited in both marketing and data collection.
Innovation Solution
A consumer database loyalty program and system that includes point of entry ports, a promotion database, customer database, pricing database, and analytics port to communicate marketing information, enabling efficient transaction processing, promotion eligibility determination, and data-driven marketing strategies.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If a loyalty program is implemented to improve marketing effectiveness and consumer information collection, then marketing capability and data availability improve, but system complexity increases
Solution Approach 1:
The loyalty program system is nested within the existing money transfer system architecture. The transaction processing system serves as the parent system that contains and coordinates multiple specialized components including the promotion database, customer database, analytics port, and point of entry ports. This nesting approach allows the loyalty program functionality to be integrated without creating a completely separate system, thereby improving marketing capability while controlling overall system complexity through hierarchical organization.
2Adaptability or versatility
If comprehensive customer information is collected to enable effective marketing, then marketing effectiveness improves, but information security and privacy protection requirements increase
Solution Approach 1:
The system implements differentiated information storage and access rights across multiple specialized databases. The customer database stores personally identifiable information, the promotion database stores promotional details, and the analytics port processes marketing data. Each component has specific access permissions and data quality requirements, allowing comprehensive data collection for effective marketing while securing sensitive information through localized access controls and purpose-specific data handling.
3Adaptability or versatility
If multiple database components and processing systems are integrated to provide loyalty program functionality, then program functionality and consumer engagement improve, but transaction processing time increases
Solution Approach 1:
The system pre-loads and caches promotion information in the promotion database and maintains customer loyalty status in the customer database before transactions occur. The analytics port pre-processes marketing information and prepares promotional offers in advance. This preliminary action allows the transaction processing system to quickly retrieve and apply relevant promotions during transaction processing, thereby providing comprehensive loyalty program functionality while minimizing additional processing time during actual transactions.
Data Source
AI summary
A money transfer system provided in connection with a loyalty program where the loyalty program members are assigned a loyalty identifier. The system includes point of entry ports to communicate transaction information with points of entry; a promotion database, a customer database, a pricing database, an analytics port to communicate marketing information with a marketing analytics system and a transaction processing system. The transaction processing system updates the promotion database as a function of the marketing information, receives money transfer transaction requests including loyalty identifiers, determines whether the requested transactions are entitled to loyalty program promotions, prices the transactions as a function of base transaction pricing and promotions pricing of any promotions to which the transaction is entitled, provides the transaction pricing information, updates the customer database as a function of transaction information and periodically provides transaction information to the analytics port.