Recipient Account Verification Using Multiparty Connectivity Analysis
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Solution Overview
Problem
Conventional fund transfer systems face challenges in validating recipient accounts in real-time, leading to inefficiencies and potential losses due to time-consuming verification processes.
Innovation Solution
A computing platform utilizes multiparty data analysis, including quantum-enabled adjacency matrices, to determine the validity of recipient accounts by analyzing connectivity between parties in real-time, leveraging data from internal and external sources, and publicly available data to generate a likelihood of connectivity score and confidence factor.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If multiple transfers of minimal amounts are used to test the recipient account, then the validity of the recipient account can be determined, but the process becomes time-consuming and prone to errors
Solution Approach 1:
The system performs preliminary actions by retrieving and analyzing multiparty data (transaction history, connectivity information, account relationships) before executing the actual fund transfer. This preliminary data gathering and analysis enables real-time validation of the recipient account without requiring multiple test transfers, thus resolving the contradiction between validation reliability and time consumption.
2Reliability
If real-time validation of recipient accounts is implemented, then transfer accuracy improves, but system complexity increases due to multiple data sources and analysis requirements
Solution Approach 1:
The validation system is segmented into distinct functional modules: a data retrieval component that collects multiparty data from various sources, an analysis component that processes the retrieved data to determine connectivity and relationships, and a validation component that makes the final determination. This segmentation manages system complexity by dividing the overall function into manageable, specialized components while enabling real-time validation.
3Ease of operation
If conventional test transfers are used to validate accounts, then simplicity of operation is maintained, but errors result in loss to users
Solution Approach 1:
The system introduces an intermediary validation layer that analyzes multiparty data (transaction history, account connectivity, relationship data) before authorizing fund transfers. This intermediary analysis provides a more reliable validation mechanism than simple test transfers, reducing errors and user losses while maintaining ease of operation through automated processing.
Data Source
AI summary
Arrangements for multi-party verification are provided. In some aspects, a computing platform may receive a request to initiate a transaction. The computing platform may retrieve, from a plurality of entities, data related to connectivity between accounts involved in the transaction and/or users thereof. The computing platform may analyze the data in real-time and determine whether connectivity exists. If so, the requested transaction may be processed. If not, additional data may be retrieved from one or more public sources. The computing platform may generate an adjacency matrix based on the retrieved data that may indicate a likelihood of validity of a recipient account to the transaction (e.g., based on adjacency determined from the matrix). The computing platform may compare the likelihood of validity to a threshold and, if the threshold is met, the transaction may be processed. If not, the transaction may be denied.