Mobile Banking Reconciliation Card Interface
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Solution Overview
Problem
Existing systems for mobile banking reconciliation lack efficiency and accuracy in matching banking records with business records, leading to discrepancies and manual errors.
Innovation Solution
A mobile banking reconciliation application that allows users to reconcile business records with banking records by displaying records in a card format, enabling users to scroll and flip through them, and automatically suggesting matches based on record characteristics.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If traditional banking reconciliation systems are used, then record matching can be performed, but manual errors increase and efficiency decreases
Solution Approach 1:
The system enables automated self-matching of banking records with business ledger records through algorithmic comparison of transaction characteristics, eliminating reliance on manual accountant intervention and reducing human error while maintaining high matching accuracy
Solution Approach 2:
The patent replaces the mechanical manual process of record-by-record matching with an automated digital system that uses computational algorithms to compare and match transactions based on multiple characteristics, thereby eliminating manual errors and significantly improving reconciliation efficiency
2Measurement precision
If detailed record matching is performed manually, then accuracy can be maintained, but time consumption increases
Solution Approach 1:
The system performs preliminary automated matching of banking records with ledger records before final review, pre-identifying potential matches based on transaction characteristics such as amount, date, and counterparty, thereby reducing the time required for detailed verification while maintaining matching precision
Solution Approach 2:
The patent substitutes manual detailed examination of each transaction with an automated computational system that rapidly compares transaction records across multiple dimensions, achieving both high precision matching and significant time reduction simultaneously
3Reliability
If complex reconciliation processes are implemented, then matching accuracy improves, but system complexity increases
Solution Approach 1:
The reconciliation system is segmented into distinct functional modules including record ingestion, characteristic extraction, matching algorithm execution, and result verification, allowing complex reconciliation tasks to be performed through coordinated simple operations that maintain reliability without requiring overall system complexity
Solution Approach 2:
The system employs a universal matching framework that handles multiple transaction types and reconciliation scenarios through a single integrated platform, reducing the need for separate complex subsystems while maintaining high matching accuracy across diverse banking and business records
Data Source
AI summary
A mobile banking reconciliation application allows a user to reconcile a business's records with banking records associated with one or more accounts of the business. The mobile banking reconciliation application can access an accounting system to obtain business records and banking records associated with the business. The banking records and business records may be displayed as a set of cards that a user can scroll and/or flip through (e.g., using the touch screen of a mobile device). The related business records displayed may be a suggestion that is based on a determination that the banking record likely matches the business record. The user may identify the appropriate business record for the particular bank record being reconciled from existing business records, or the user may create a new business record.