Remote Attribute Definition System for Credit Data Automation
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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 and manage data queries and attributes for credit and risk decisions, enabling automated data inquiries and decision-making processes within credit bureaus, while maintaining compliance with regulations by minimizing the transfer of sensitive data and allowing for real-time or batch processing.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If manual programming by bureau staff is used to define data inquiry attributes, then data retrieval can be performed, but time consumption and costs increase significantly
Solution Approach 1:
The system enables self-service by allowing users to independently define and program their own data inquiry attributes without requiring bureau staff intervention. Users can create, modify, and execute custom queries directly through the system interface, eliminating the manual programming bottleneck and significantly improving data retrieval efficiency while reducing time consumption.
Solution Approach 2:
The patent introduces an intermediary layer between users and the credit bureau data systems. This intermediary system provides pre-configured attribute templates and tools that users can leverage to define their inquiries without needing to understand the underlying complex data structures, thereby reducing the time and expertise required for attribute programming while maintaining access to comprehensive data.
2Productivity
If bureau staff program attributes for each data inquiry request, then data can be retrieved, but costs and processing time increase
Solution Approach 1:
The system empowers users to independently program and execute their own data inquiries using provided tools and templates. This eliminates the need for bureau staff to manually program each query, reducing resource consumption and accelerating processing speed while maintaining query complexity and customization capabilities.
Solution Approach 2:
The patent implements pre-configured attribute templates and commonly used query patterns that users can select and modify for their specific needs. This preliminary preparation of standard attributes and query structures eliminates repetitive manual programming work, reducing both resource consumption and processing time for routine data inquiries while preserving the ability to handle complex custom queries.
3Productivity
If each credit bureau programs attributes independently, then data retrieval is possible, but attribute consistency across multiple bureaus deteriorates
Solution Approach 1:
The system provides universal attribute definitions and standardized query templates that work across multiple credit bureaus. Users define attributes once using the standardized framework, and these definitions are consistently applied when querying data from different bureaus, ensuring attribute consistency while maintaining the ability to retrieve data from multiple sources simultaneously.
Solution Approach 2:
The patent implements homogeneous attribute structures and data formats across all credit bureau interactions. By standardizing attribute definitions, data formats, and query structures, the system ensures that the same attribute meanings and formats are maintained regardless of which bureau is queried, eliminating inconsistencies while preserving data retrieval capabilities from multiple sources.
4Adaptability or versatility
If manual processes are used for data inquiries, then flexibility to adapt to business changes is reduced, but automation can improve responsiveness
Solution Approach 1:
The system implements dynamic attribute definitions and query configurations that can be easily modified in response to changing business requirements. Users can update attribute definitions, add new query parameters, and adjust data retrieval logic without requiring manual intervention from bureau staff, enabling rapid adaptation to business environment changes while maintaining high levels of automation.
Solution Approach 2:
The patent provides pre-configured templates and tools for common business scenarios that can be quickly adapted to new requirements. Users can leverage these preliminary configurations as starting points for new queries, reducing the time and effort needed to respond to business changes while maintaining automated processing capabilities.
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.