Recurring Data Transfer Configuration via Alias Validation
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Traditional methods for setting up pre-authorized recurring electronic data transfers, such as recurring bill payments, often require manual processing and validation of bank account information, leading to errors and inefficiencies, and lack secure user input authorization processes.
Innovation Solution
A computer system and method that allows for the configuration of recurring data transfers through an immediate data transfer request, using an alias for user input validation and consent, which includes transmitting a message with the transfer amount and consent indication to the recipient system, thereby validating the transfer configuration and enhancing security and efficiency.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If manual processing and validation of bank account information is used, then user authorization and security can be ensured, but errors and inefficiencies occur
Solution Approach 1:
The system automatically validates bank account information using alias accounts without requiring manual processing. The payer's financial institution system automatically verifies account details and generates authorization tokens, eliminating manual intervention while maintaining security through automated validation protocols.
Solution Approach 2:
The patent replaces manual mechanical processes (physical void cheque handling, manual data entry, manual validation) with automated electronic systems. The system uses electronic data transmission, automated validation algorithms, and digital authorization tokens to substitute the manual mechanical system, thereby improving efficiency while maintaining reliability through consistent automated validation.
2Adaptability or versatility
If void cheque and manual data entry methods are used, then traditional processes can be followed, but errors and inefficiencies increase
Solution Approach 1:
The system creates and validates alias accounts that replicate the functionality of traditional void cheque information. Instead of manually entering data from physical cheques, the system electronically copies and validates account information through automated processes, maintaining compatibility with traditional banking processes while eliminating manual data entry errors.
Solution Approach 2:
The system implements automated feedback loops where bank account information is automatically validated and verified through the payer's financial institution system. The system receives feedback on validation results and automatically corrects or rejects inaccurate information, ensuring high data accuracy while maintaining compatibility with traditional banking validation requirements.
3Productivity
If automated validation using alias is used, then efficiency and error reduction improve, but system complexity increases
Solution Approach 1:
The patent introduces alias accounts as intermediary elements between the payer and the biller. These alias accounts serve as simplified representations that encapsulate complex bank account information, allowing automated validation without exposing underlying system complexity to users. The intermediary alias system manages the complexity internally while presenting a simple interface.
Solution Approach 2:
The alias account system serves multiple functions: it stores bank account information, enables automated validation, provides security through tokenization, and facilitates recurring payments. By making the alias system multi-functional, the patent reduces the need for separate complex systems for each function, thereby improving efficiency without proportionally increasing overall system complexity.
Data Source
AI summary
Methods and computer systems for configuring recurring data transfers. Receiving, from a first computing system, a request to configure a recurring data transfer to a recipient, the request provided as a request for an immediate data transfer, the request for the immediate data transfer indicating a requested transfer amount and an intended transferor, the intended transferor indicated using an alias. Receiving user input from a computing device engaged using the alias, the user input including an indication of authorization of the immediate data transfer, the indication further including an indication of consent to pre-authorization of the recurring data transfer. In response to receiving the user input, transmitting a message to a system associated with the recipient, the message transferring data indicating the requested transfer amount, and wherein the message further includes an indication to the system associated with the recipient of consent to pre-authorization of the recurring data transfer.