Rotating Account Transfers with Pre-Stored Credentials
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Transferring values between accounts is complex due to the need for account numbers, routing numbers, passwords, and identifying which accounts are set up for transfers, with physical mechanisms for transfers being difficult to execute.
Innovation Solution
A system and method that uses a graphical interface to simplify transfers by lining up accounts, displaying available balances, and handling additional fees, with options for creating and signing on using a mobile device, including account data storage, password management, and conversion value determination.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If traditional transfer mechanisms are used, then security and account verification are maintained, but the complexity of the transfer process increases significantly
Solution Approach 1:
The patent extracts the complex verification elements (account numbers, routing numbers, passwords) from the user's direct input requirements. The system pre-stores these credentials and automatically retrieves them during transfer, separating the security verification function from the user's manual input process. This allows secure transfers without requiring users to handle sensitive account details.
Solution Approach 2:
The system performs preliminary actions by pre-storing account credentials, routing information, and transfer parameters in a database before the actual transfer occurs. Account verification and setup are completed in advance, so when a user initiates a transfer, the complex verification steps have already been prepared and stored, eliminating the need for real-time complex input.
2Measurement precision
If multiple account details are required for transfers, then account identification accuracy is improved, but the ease of operation deteriorates
Solution Approach 1:
The patent creates a universal transfer system where a single interface handles multiple account types, currencies, and transfer methods. The system stores multiple account identifiers and credentials associated with each user account, allowing one universal account to access many different destination accounts without requiring separate procedures for each account type.
Solution Approach 2:
The system creates simplified copies or representations of complex account information. Instead of requiring users to input full account numbers, routing numbers, and passwords, the system uses stored aliases or simplified account identifiers that reference the complete account details in the database, making identification accurate but operation simple.
3Reliability
If manual transfer mechanisms are used, then account control is maintained, but the productivity of transfers decreases
Solution Approach 1:
The system enables self-service transfers by automatically retrieving stored account credentials, calculating transfer amounts, and executing transfers without requiring manual intervention for each step. The pre-stored information and automated processes allow rapid transfer execution while maintaining account security through encrypted credential storage and verification protocols.
Solution Approach 2:
The patent replaces manual mechanical transfer processes with automated electronic systems. Instead of manually entering account details and initiating transfers through complex interfaces, the system uses automated database queries, cryptographic verification, and electronic fund transfer protocols to execute transfers rapidly while maintaining security controls.
Data Source
AI summary
A system and method may create a user interface where a first account may be lined up in relation to a second account and a transfer may move value from the first account to the second account.