Shared Account Transaction System with Customizable Rules
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Solution Overview
Problem
Existing methods for sharing and transferring resources are not customizable to meet user-specific needs, making it difficult to effectively manage resource transfers, especially when multiple members from different provider institutions want to contribute to a common goal.
Innovation Solution
A system and method for generating shared accounts with customizable rules, allowing users to create shared accounts accessible by multiple members, with defined rules for deposits and withdrawals, enabling efficient management of resource transfers.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If conventional resource sharing methods are used, then resource transfers can occur, but the system cannot be customized to meet user-specific needs and cannot effectively track contributions
Solution Approach 1:
The patent segments the resource sharing system into separate functional modules: profile management module for user customization, rule definition module for configurable transfer rules, transaction execution module for resource transfers, and contribution tracking module for monitoring. This modular segmentation enables customizability while managing complexity through clear separation of concerns.
Solution Approach 2:
The system implements dynamic configurability where users can modify their profiles, add or update transfer rules, and adjust sharing parameters at runtime. The rule definition allows flexible conditions for resource transfers, and the system adapts to different user needs without requiring structural changes, thereby improving adaptability while keeping the core system architecture stable.
2Adaptability or versatility
If multiple members from different provider institutions want to contribute to a common goal, then resource pooling is enabled, but there is no means to track contributions
Solution Approach 1:
The contribution tracking module implements continuous feedback by monitoring and recording each resource transfer between members from different institutions. The system provides real-time visibility into contribution amounts, sources, and statuses, enabling transparent tracking of resources flowing across institutional boundaries while maintaining the flexibility of cross-institutional pooling.
3Ease of operation
If shared accounts are created with customizable rules, then resource transfer management is improved, but the system complexity increases
Solution Approach 1:
The system enables users to independently configure their own shared accounts, define their transfer rules, and manage their contributions without requiring complex administrative intervention. The automated rule evaluation and transaction execution reduce manual management overhead, improving ease of operation while the backend automation handles the complexity of rule enforcement and coordination.
Data Source
AI summary
Systems and methods for generating shared accounts and performing shared account transactions include a computing system which receives a request from a first user device of a first user to form a shared account accessible by a second user based on one or more rules, generates the shared account, links a first account with the shared account, identifies the second user, transmits a notification to a second user device of the second user indicating the second user has access to the shared account, receives an input to the second user device indicating acceptance of access to the shared account, links a second account with the shared account, receives a second input to the second user device indicating a selection to initiate an outbound transfer of resources and a category, determines that the category meets at least one rule, and initiates the outbound transfer of resources from the shared account.