RoSCA Online Product Partial Participation for Faster Opening
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Solution Overview
Problem
Existing RoSCA-type online financial products face challenges in recruitment of participants due to mismatched detailed information, leading to delayed or failed product openings, and are prone to financial risks from terminations.
Innovation Solution
A method and financial service server that allow partial participation in RoSCA-type online financial products, enabling users to participate in specific entries based on their needs, and adjust contribution and payout details to facilitate quicker product opening and minimize termination risks.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If the detailed information of participation entries is fixed and specific, then the matching accuracy with user needs is improved, but the difficulty in recruiting participants increases and product opening is delayed
Solution Approach 1:
The participation entry is divided into multiple sub-entries, each with different contribution amounts and payout details. Users can select sub-entries that match their specific needs, improving matching accuracy while allowing the product to open with fewer participants.
Solution Approach 2:
The system allows dynamic adjustment of contribution amounts and payout details within each participation entry. By changing these parameters to create multiple sub-entries with different configurations, the system accommodates diverse user preferences without delaying product opening.
2Manufacturing precision
If the detailed information of participation entries is fixed and specific, then the clarity of financial terms is improved, but the flexibility to accommodate diverse user needs deteriorates
Solution Approach 1:
Each participation entry is segmented into multiple sub-entries with clearly defined contribution amounts and payout details. This maintains clarity of financial terms while providing flexibility through varied sub-entry options.
Solution Approach 2:
The system dynamically generates multiple sub-entries from a single participation entry template, allowing flexible configuration of contribution and payout parameters while maintaining clear financial terms in each sub-entry.
3Quantity of substance
If full participation in each entry is required, then the completeness of funding is improved, but the barrier to entry for users increases
Solution Approach 1:
Users can participate in only specific sub-entries that match their investment capacity and needs, rather than requiring full participation in entire entries. This lowers the barrier to entry while maintaining funding completeness through aggregated sub-entry participation.
Solution Approach 2:
Users can perform partial participation by selecting only the sub-entries they wish to join, rather than being required to participate in complete entries. This reduces the barrier to entry while the system achieves complete funding through cumulative partial participations.
Data Source
AI summary
A method of operating an online financial product corresponding to transaction at an order of a participation entry included in a Rotating Savings and Credit Association (RoSCA)-type online financial product includes transmitting information of a target financial product including detailed information of a first participation entry to a first user terminal; receiving a first request message requesting partial participation in the first participation entry from the first user terminal; and allowing a first user corresponding to the first user terminal to participate as a first partial participant of the first participation entry on the basis of reception of the first request message. In this case, the target financial product includes a plurality of participation entries including the first participation entry. The method is performed in a financial service server.