Message-Based Interface for Financial Data Exchange
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Solution Overview
Problem
Current standards for exchanging business information across different business entities are inconsistent, leading to difficulties in transactions due to varying semantics, formatting, and currency usage, requiring a consistent way to facilitate information exchange between heterogeneous systems.
Innovation Solution
A message-based interface system that utilizes a business object model to generate consistent interfaces across industries and departments, allowing for the exchange of financial instrument impairment expected cash flow analytical results, including messages hierarchically organized to ensure standardized data representation and processing.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If heterogeneous business entities use their own proprietary interfaces and data formats, then each entity can maintain its internal business logic and semantics, but information exchange between entities becomes complex and requires human interaction
Solution Approach 1:
The patent introduces a standardized message interface as an intermediary layer between heterogeneous business entities. This message interface defines common data structures and communication protocols that allow different systems to exchange information without requiring human interaction or deep customization. The message interface acts as a mediator that translates between proprietary internal formats and standardized exchange formats.
Solution Approach 2:
The patent creates a universal message interface that can serve multiple business entities and transaction types. The standardized data structures and message formats are designed to be applicable across different industries and business processes, allowing a single interface definition to handle diverse information exchange requirements without requiring entity-specific customizations.
2Adaptability or versatility
If different business entities use different data formatting and semantics, then each entity can optimize for its specific needs, but integration and information exchange become difficult
Solution Approach 1:
The patent segments the information exchange system into distinct layers: standardized message interfaces at the communication layer, and entity-specific business logic at the application layer. This segmentation allows each business entity to maintain its optimized internal data formats and semantics while the standardized interface layer handles the integration complexity, separating concerns between internal optimization and external interoperability.
3Adaptability or versatility
If proprietary interfaces are used for information exchange, then business entities can maintain control over their data representation, but standards consistency across industries is lacking
Solution Approach 1:
The patent applies partial standardization by defining standardized message interfaces for specific transaction types and data exchanges, while allowing flexibility in other areas. The standardization is applied selectively to the communication layer and data exchange protocols, while business entities retain control over their internal data representation and business logic, achieving partial but sufficient consistency for reliable information exchange.
Data Source
AI summary
A business object model, which reflects data that is used during a given business transaction, is utilized to generate interfaces. This business object model facilitates commercial transactions by providing consistent interfaces that are suitable for use across industries, across businesses, and across different departments within a business during a business transaction. In some operations, software creates, updates, or otherwise processes information related to a financial instrument impairment expected cash flow analytical result business object.