Remote Attribute Definition System for Credit Data
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Solution Overview
Problem
Current systems for credit and marketing data retrieval from credit bureaus are inefficient, requiring manual programming by bureau staff, leading to increased costs, delays, and compliance issues due to inconsistent attribute definitions across different bureaus, and lack of automation for real-time data inquiries and decision-making.
Innovation Solution
A system that allows users to define, communicate, and manage data queries across multiple data providers, enabling real-time or batch processing of credit and risk decisions without exposing sensitive consumer data, using a design module for attribute creation and an execution engine for data analysis, while maintaining audit trails for compliance and performance tracking.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If manual programming by bureau staff is used to define data inquiry attributes, then the bureau can process credit checks, but this results in increased costs, delays, and inconsistent attribute definitions across different bureaus
Solution Approach 1:
The patent implements a template system where attribute definitions are created once and copied/reused across multiple data inquiries and bureaus. The template contains standardized attribute definitions that can be referenced by multiple inquiries, ensuring consistency without requiring manual re-programming for each inquiry. This directly addresses the inconsistency problem while reducing the time and cost of manual programming.
Solution Approach 2:
The patent introduces an intermediary template layer between the data inquiry system and the actual attribute programming. Instead of directly programming attributes for each inquiry, the system uses templates as intermediaries that define attributes once and serve multiple inquiries. This intermediary mechanism ensures attribute consistency across different bureaus and eliminates redundant manual programming work.
2Productivity
If manual programming by bureau staff is required for each data inquiry, then credit checks can be performed, but this increases operational costs and reduces productivity
Solution Approach 1:
The patent implements template creation as a preliminary action that occurs before actual data inquiries. Attributes are defined in advance in templates, and these pre-defined templates are then reused across multiple inquiries. This preliminary structuring of data attributes eliminates the need for repetitive manual programming for each inquiry, significantly improving productivity while the template management system handles the complexity.
3Adaptability or versatility
If bureau staff program attributes manually for each inquiry, then data can be retrieved, but this removes control and flexibility from the requesting company
Solution Approach 1:
The patent enables requesting companies to self-serve by creating and managing their own attribute templates independently. The template system allows businesses to define their own data inquiry attributes without relying on bureau staff for programming. This self-service capability gives companies full control and flexibility over their data retrieval operations while maintaining ease of operation through the intuitive template interface.
4Speed
If manual attribute programming is used, then credit bureau processing can occur, but this prevents real-time response to market conditions
Solution Approach 1:
The patent prepares attribute definitions in advance through template creation, storing them ready for immediate use. When market conditions change or new inquiries are needed, businesses can quickly reference or modify existing templates rather than programming attributes from scratch. This preliminary preparation eliminates attribute setup time and enables real-time response to market conditions.
5Reliability
If the same attributes cannot be matched between pre-screening and applicant acceptance, then FCRA compliance can be maintained, but this creates legal violations
Solution Approach 1:
The patent uses template copying to ensure the exact same attribute definitions are used in both pre-screening and applicant acceptance processes. The template serves as a master copy that is referenced by both processes, guaranteeing attribute matching accuracy. This eliminates the risk of FCRA violations while maintaining compliance reliability through consistent attribute application across different stages of the credit process.
Data Source
AI summary
A system of the invention comprises a design module, execution engine, and performance management module. A first computer hosts the design module which enables a user to define attributes, queries, and decision rules transmitted to the execution engine hosted on a second computer remote to the first computer. The second computer can be located at a credit bureau, credit reporting agency, or other data provider. The second computer runs the execution engine to query a data repository with the user-defined attributes and queries, and applies the user-defined decision rules to produce result data transmitted to a third computer hosting the performance management module for monitoring performance of a benefit or offering made with the result data and the corresponding attributes, queries, and decision rules that generated the result data.