Multi-dimensional Performance Modeler for Joint Exchanger Trustworthiness
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Solution Overview
Problem
Current methods for assessing the economic trustworthiness of joint exchangers are inaccurate or ineffectual, particularly for economic invisible exchangers without a credit history, leading to less favorable financial opportunities.
Innovation Solution
A computer system that authenticates exchangers, collects performance indicators and activity data, and uses a performance model to generate a multi-dimensional performance (MDP) score, which provides a more accurate assessment of joint exchangers' economic trustworthiness.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If traditional credit assessment methods are used for joint exchangers, then individual credit histories can be evaluated, but the assessment is inaccurate or ineffectual for economic invisible exchangers without credit history
Solution Approach 1:
The patent segments the credit assessment into multiple independent dimensions: traditional credit history evaluation for exchangers with credit records, and alternative data-based evaluation (bank statements, tax returns, employment verification) for economic invisible exchangers. This segmentation allows each type of exchanger to be assessed using the most appropriate methodology, thereby improving both measurement precision and adaptability across different exchanger types.
Solution Approach 2:
The patent creates a universal assessment framework that can handle both traditional and economic invisible exchangers through a single integrated system. The system universally applies performance modeling techniques to all exchangers, adapting the specific data sources and evaluation criteria based on whether the exchanger has a credit history or not, thus achieving both precision and broad applicability.
2Measurement precision
If comprehensive data collection is performed to improve assessment accuracy, then more accurate MDP scores can be generated, but data privacy and security risks increase
Solution Approach 1:
The patent introduces a trusted intermediary system that acts as a mediator between data sources and the assessment algorithm. This intermediary layer collects, validates, and processes sensitive financial data while implementing security protocols and access controls, thereby enabling comprehensive data collection for accurate MDP scoring while mitigating privacy and security risks through structured data handling procedures.
3Measurement precision
If multiple data sources are integrated to create comprehensive performance models, then the MDP score becomes more accurate, but the system complexity increases
Solution Approach 1:
The patent segments the complex data integration system into distinct functional modules: data collection modules for different sources (credit bureaus, banks, employers), data validation modules, performance modeling modules, and scoring modules. This segmentation reduces system complexity by making each component independent and manageable while still achieving comprehensive multi-dimensional assessment through their coordinated operation.
Data Source
AI summary
Systems, methods and computer-readable storage media are utilized to model a multi-dimensional performance score. A processing circuit including memory and one or more processors is configured to authenticate a first exchanger and a second exchanger, receive a selection of at least one actionable element corresponding to an activity of the first exchanger and the second exchanger, identify a performance model based on the activity, collect at least one performance indicator associated with the first exchanger or the second exchanger, collect first activity data of the first exchanger and second activity data of the second exchanger, model the at least one performance indicator, the first activity data, and the second activity data to generate a MDP score, and provide the MDP score.