Redacted Statement Delivery System for Third-Party Data Access
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Solution Overview
Problem
Third-party institutions require access to transaction data from financial institutions but should not have unnecessary personal information, posing a challenge in securely delivering redacted statements.
Innovation Solution
A system and method for redacted statement delivery involving a statement engine and a redaction engine that processes requests from third-party backends, retrieves statements, identifies metadata for redaction, and securely stores and delivers redacted statements.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If full statement data is provided to third-party institutions, then data accessibility is improved, but data security and compliance are worsened due to exposure of personal information
Solution Approach 1:
The patent extracts only the necessary transaction data from the full statement while removing personal identifiable information (PII) and sensitive data. The system selectively retrieves and transmits only the required fields (transaction date, amount, merchant name) to third-party institutions, preventing unnecessary data exposure while maintaining data accessibility for legitimate business purposes.
Solution Approach 2:
The statement engine acts as an intermediary between the financial institution and third-party institutions. It receives full statement data from the financial institution, processes it through redaction rules, and delivers sanitized data to third parties. This intermediary layer enables data sharing while maintaining security and compliance control.
2Object-affected harmful factors
If redaction processing is implemented, then data security is improved, but system complexity is worsened due to additional processing steps
Solution Approach 1:
The system performs redaction processing in advance before data delivery to third parties. The statement engine pre-processes statements by applying redaction rules to remove PII and sensitive data, so that when data is transmitted to third-party institutions, it is already sanitized. This preliminary action simplifies the overall system architecture by centralizing security processing upstream.
Solution Approach 2:
The statement engine performs multiple functions within a single component: it retrieves statements from financial institutions, applies redaction rules, validates data, and delivers sanitized data to third parties. This multi-functional design reduces system complexity by consolidating operations rather than requiring separate dedicated components for each function.
3Loss of information
If comprehensive data fields are included in statements, then information completeness is improved, but compliance risk is worsened due to potential inclusion of sensitive data
Solution Approach 1:
The patent applies different data inclusion strategies to different fields based on their sensitivity. Transactional fields (transaction date, amount, merchant name) are included and transmitted to third parties, while personal information fields (customer name, address, account numbers) are redacted. This local differentiation allows the system to maintain information completeness for business-relevant data while ensuring compliance by excluding sensitive data.
Data Source
AI summary
Systems and methods for redacted statement delivery to third-party institutions are disclosed. A method may include: receiving a request for a statement from a third-party backend; retrieving a list comprising a plurality of available statements; providing the list of the plurality of available statements to the third-party backend; retrieving a selection of one of the plurality of available statements; identifying metadata for data fields in a statement template; generate the selected statement using the statement template and embedding the metadata in data fields of the statement; identifying a redaction reason; identifying redaction metadata associated with the redaction reason; redact data fields in the statement having metadata matching the redaction reason metadata; storing the redacted statement in a temporary store; and returning a path for the temporary store to the third-party backend, wherein the third-party backend may retrieve the redacted statement from the temporary store.