Interactive Mobile Session System for Real-Time Transaction Fraud Detection
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Solution Overview
Problem
Traditional methods for tracking and reporting credit and debit card transactions are cumbersome, requiring manual entry of receipts and leading to accounting errors, fraud opportunities, and inefficiencies in tax compliance and reimbursement processes.
Innovation Solution
An interactive mobile session system that initiates real-time or near real-time sessions with cardholders via SMS, RCS, or mobile apps to classify transactions, provide supplemental information, and perform fraud analysis, generating compliant expense reports and integrating with accounting software.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If traditional receipt-based expense recording methods are used, then users can track transactions, but the process is time-consuming and prone to manual errors
Solution Approach 1:
The system performs preliminary actions by automatically capturing transaction data at the point of sale through integrated payment terminals. Receipt information is captured and processed in real-time during the transaction, eliminating the need for later manual data entry and significantly improving expense recording efficiency
Solution Approach 2:
The system enables self-service by automatically generating expense reports, categorizing transactions, and maintaining expense logs without requiring user intervention. The automated system handles data capture, processing, and report generation, freeing users from time-consuming manual tasks
2Reliability
If manual receipt preservation and entry are required, then expense tracking is possible, but the process is tedious and allows for mistakes and fraud
Solution Approach 1:
The system replaces manual mechanical processes (physical receipt handling, manual data entry) with automated electronic systems. Payment terminals and software automatically capture, process, and store transaction data, eliminating human error and fraud opportunities while simplifying the tracking process
Solution Approach 2:
The system creates digital copies of receipt information directly at the point of sale through automated capture. These digital copies are immediately processed and stored in the expense tracking system, replacing the need for physical receipt preservation and manual transcription
3Productivity
If traditional expense reporting processes are used, then reimbursement tracking is possible, but timeliness and compliance vary widely
Solution Approach 1:
The system maintains continuous operation by automatically capturing transactions in real-time and continuously updating expense logs and reports. This continuous automated processing ensures timely compliance reporting without interruption or delay, eliminating the batch processing nature of traditional methods
Solution Approach 2:
The system performs preliminary actions by pre-categorizing transactions, pre-calculating totals, and pre-generating report data during the transaction itself. This preliminary processing ensures that compliance reports are ready immediately when needed, eliminating last-minute voucher creation delays
Data Source
AI summary
Techniques described herein include analyzing point-of-sale transactions and initiating interactive mobile sessions responsive to the transactions. Platform servers receive transaction data indicative of a transaction performed via a point-of-sale system, determine additional data associated with server processes, and initiate interactive session with the mobile device to receive the additional data for performing the server processes. Based on the interactive sessions and additional data, the platform servers may enhance fraud detection capabilities and generates compliance records for tax and expense reporting based on the transactions, while supporting credentialing and authentication capabilities.