Open Origination Financial Software Access Control
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Solution Overview
Problem
Current banking software restricts non-account holders from accessing and experiencing the full functionality of financial institutions' software, limiting their ability to evaluate and choose between different banking services without opening an account or engaging in extensive research.
Innovation Solution
The development of Open Origination Financial Software allows both account holders and non-account holders to access and utilize financial software, providing transactional details and additional features like account balance and budgeting, enabling a broader user experience and software choice.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If Standard Banking Software is restricted to existing account holders only, then the financial institution can protect its proprietary software and maintain security, but potential customers cannot experience the software functionality before opening an account
Solution Approach 1:
The patent segments the software access rights into different levels: full access for account holders and limited access for non-account holders. The system divides functionality into core features (accessible to all) and advanced features (accessible only to authenticated users), allowing potential customers to experience the software without compromising overall system security.
Solution Approach 2:
The patent introduces an intermediary authentication layer that mediates between the software system and users. This intermediary verifies user status (account holder vs. non-account holder) and grants appropriate access levels, enabling secure differentiated access without requiring full authentication for initial software usage.
2Ease of operation
If the financial institution opens the software to non-account holders, then potential customers can evaluate the software and make informed decisions, but the institution may lose competitive advantage and brand exclusivity
Solution Approach 1:
The patent applies local quality by providing different software experiences to different user groups in specific contexts. Non-account holders receive a limited but functional version sufficient for evaluation, while account holders receive the complete version with all features. This localized differentiation allows marketing goals to be met without sacrificing overall software exclusivity.
Solution Approach 2:
The patent implements partial action by providing non-account holders with enough functionality to evaluate the software (account viewing, basic transactions) without granting full access to all features. This partial access is sufficient for customer evaluation purposes while preserving the institution's competitive advantages through restricted access to advanced capabilities.
3Loss of time
If the financial institution requires account opening before software access, then it can ensure committed users with valid financial relationships, but it creates time-consuming barriers that prevent genuine software experience
Solution Approach 1:
The patent enables preliminary action by allowing users to access and evaluate the software before completing the full account opening process. Users can perform initial evaluations, view sample functionality, and make informed decisions about whether to proceed with account opening, thereby eliminating the time barrier that previously prevented genuine software experience.
Solution Approach 2:
The patent introduces dynamics by making the authentication requirements flexible rather than static. The system dynamically adjusts authentication demands based on the user's actions and evaluation needs, allowing progressive access without requiring complete account setup upfront. This dynamic approach reduces time loss while maintaining appropriate security controls.
Data Source
AI summary
In the field of banking and financial services, a flexible Open Origination allows any type of mobile, internet, online, personal financial management software, finance tool, or other useful function, device or software, that a bank or financial institution provides to account holders, and offers that same functionality that allows any user regardless of account status. Non-account holders can download and utilize the Banking Software in question in order to enjoy its features, an in order to become familiar with the experience of doing business with the bank or financial institution that provides the software. This method, system and software allows any user, regardless of where his/her accounts are located, to use the software and benefit from its functionality.