Mobile Transaction Interface Using SMS Translation Layer
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Solution Overview
Problem
Web-based stock brokerage systems are inaccessible to mobile users due to their high bandwidth and resolution requirements, preventing users from trading and monitoring stock portfolios on-the-go using conventional mobile devices.
Innovation Solution
A transaction interface system and method that uses a simplified command set for mobile devices to access trading information and services, allowing users to perform trades and monitor stock prices via SMS, MMS, or email, with a message parser and transaction controller to translate user inputs into trading actions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If web-based stock brokerage systems use graphics and high bandwidth connections, then information richness and display quality are improved, but accessibility to mobile devices is worsened
Solution Approach 1:
The system segments the trading interface into two distinct layers: a rich web-based interface for desktop computers that provides comprehensive graphics and information, and a simplified SMS-based interface for mobile devices that provides essential trading functionality. This segmentation allows each interface to be optimized for its specific device type, resolving the contradiction between information richness and device accessibility.
Solution Approach 2:
The patent introduces an intermediary translation layer that converts between the complex web-based trading interface and the simplified SMS interface. This intermediary system translates user commands from SMS messages into web-based trading actions and converts web-based trading confirmations into SMS-friendly formats, enabling mobile access without requiring mobile devices to handle the full complexity of the web interface.
2Adaptability or versatility
If web-based systems provide comprehensive trading functionality, then service capability is improved, but ease of operation on mobile devices is worsened
Solution Approach 1:
The system extracts the essential trading functionality from the comprehensive web interface and implements it through simplified SMS commands. By taking out only the core trading actions (place order, check portfolio, set alerts) and implementing them through text-based SMS messages, the system maintains service capability while dramatically improving ease of operation on mobile devices.
Solution Approach 2:
Instead of requiring mobile users to access the full web interface through a browser (the conventional approach), the system inverts the approach by having the web-based system adapt to receive commands via SMS. This inversion allows the complex backend trading system to remain unchanged while the interface layer is simplified for mobile input, resolving the contradiction between service capability and mobile usability.
3Ease of operation
If mobile interfaces use simplified command sets, then ease of operation is improved, but information detail and monitoring capability are worsened
Solution Approach 1:
The system implements comprehensive feedback mechanisms that send detailed trading information and portfolio updates back to mobile users via SMS. Despite the simplified command interface, the feedback channel provides rich information including portfolio values, individual stock performance, trading confirmations, and market alerts, ensuring that users receive complete monitoring information even though they interact through simplified commands.
Data Source
AI summary
A system and method for allowing users to specify using commonly available mobile devices such as mobile telephones, transactions to be performed is described. More particularly, the invention provides a transaction interface layer which uses a predetermined lightweight message syntax to allow a user to specify transactions to be performed. The particular transactions envisaged are financial transactions such as stock or share trades, but the invention also allows other transaction types, such as information transactions, to be specified. When an information transaction is specified, the system of the invention acts to filter received information in accordance with a user-specified transaction, and to forward filtered information to a user mobile device as appropriate.