Merchant Credit Application Integration for Low-Latency Data Normalization
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Solution Overview
Problem
Merchant credit applications require extensive data retrieval from various sources, often in non-standardized formats, leading to inefficiencies and the need for frequent software rewrites due to rapid changes in data sources and requirements, resulting in increased network latency, I/O costs, and security vulnerabilities.
Innovation Solution
A centralized integration service using a volatility-based decomposition architecture that standardizes and consolidates data from multiple sources, reducing the need for frequent software updates and minimizing network traffic and I/O operations by communicating through a single service, thereby enhancing security and reducing computational wear.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If data is retrieved from multiple external sources in non-standardized formats, then comprehensive credit information is obtained, but network latency and I/O costs increase
Solution Approach 1:
The patent introduces a centralized integration service as an intermediary between the credit decision system and multiple external data sources. This service consolidates data retrieval operations, standardizes data formats, and manages communications with various external sources (credit bureaus, commercial databases, public records). By centralizing these operations, the system reduces network latency and I/O costs while maintaining comprehensive information gathering, as the integration service can batch requests and optimize data retrieval efficiency.
2Adaptability or versatility
If software is frequently rewritten to adapt to changing data sources and requirements, then system adaptability is improved, but development complexity and costs increase
Solution Approach 1:
The patent segments the system into distinct modular components: a centralized integration service layer that handles external data source variations, and a core credit decision system that remains unchanged. The integration service is further divided into data retrieval modules, standardization modules, and data delivery modules. This segmentation allows the integration service to adapt to changing data sources through configuration changes rather than code modifications, while the core system maintains stability, thereby reducing overall software complexity despite improved adaptability.
3Measurement precision
If extensive data retrieval operations are performed, then credit decision accuracy is improved, but I/O costs and computational wear increase
Solution Approach 1:
The centralized integration service performs preliminary data retrieval, standardization, and validation operations before data reaches the credit decision system. It pre-processes data from multiple external sources, consolidates relevant information, and delivers a standardized data package to the decision system. This preliminary action ensures that the decision system receives complete, accurate, and ready-to-use data, improving credit decision accuracy while reducing the I/O and computational burden on the decision system itself.
4Loss of information
If multiple external data sources are accessed, then information completeness is improved, but security vulnerabilities increase
Solution Approach 1:
The centralized integration service acts as a security intermediary between the credit decision system and multiple external data sources. It centralizes authentication, authorization, and data validation operations, implementing security protocols and access controls at the integration layer. This approach allows the system to access comprehensive information from multiple external sources while maintaining a single point of security enforcement, thereby reducing security vulnerabilities compared to having direct access points from the decision system to each external source.
Data Source
AI summary
The present disclosure comprises systems, methods, and computer readable media that allows processing of merchant credit applications. An integration service is provided herein that retrieves external information regarding the merchant credit application. The integration service provides for normalizing an external information and mapping it to the businesses and entities within its own database. Additionally, the integration service is able to compile a dataset for a decision service to efficiently analyze the merchant credit application.