Shared Account Notification System for Fund Coordination

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Solution Overview

Problem

Existing systems for managing group accounts lack effective notification mechanisms, making it difficult for members to coordinate and manage shared funds efficiently.

Innovation Solution

A computing system with a network interface, database, and processing circuit that generates and transmits notifications to members of a shared account, allowing for inbound transfers and matching contributions, based on predefined notification policies and transaction histories.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Ease of operation

If third party fund exchanges are used for sharing expenses and transferring funds, then fund transfer functionality is provided, but effective management of the funds is not allowed

Engineering Contradiction:

Improvefund management capabilityVSAvoidcontrol over shared funds

Core Design Contradiction:

Ease of operationVSLoss of information

Solution Approach 1:

The patent introduces a shared account as an intermediary entity that sits between individual user accounts and the third-party fund exchange system. This shared account allows group members to pool funds under a single account while maintaining individual control through the system, enabling both ease of operation and effective fund management simultaneously

Inventive Principle:

Principle #24Intermediary (Mediator)

2Productivity

If notification mechanisms are added to enable coordination among group members, then coordination efficiency is improved, but system complexity increases

Engineering Contradiction:

Improvecoordination efficiencyVSAvoidsystem structure

Core Design Contradiction:

ProductivityVSDevice complexity

Solution Approach 1:

The notification system is integrated into the existing shared account management platform, allowing the same system to serve multiple functions: fund management, member coordination through notifications, and transaction tracking. This multi-functionality improves productivity without proportionally increasing device complexity

Inventive Principle:

Principle #6Universality (Multi-functionality)

Solution Approach 2:

The system implements automated notification feedback loops where members receive real-time alerts about account activities, contributions, and coordination requests. This feedback mechanism enables efficient coordination by keeping all members informed without requiring complex manual communication systems

Inventive Principle:

Principle #23Feedback

Data Source

PatentUS20250069049A1Systems and methods for establishing and maintaining a group account

Publication Date: 2025.02.27 WELLS FARGO BANK NA

AI summary

Systems and methods for providing notifications regarding a shared account may include a computing system which receives a request to form a shared account. The computing system may generate the shared account and a corresponding first model, transmit one or more messages, generate links between accounts and the shared account and second model(s) corresponding to second member(s). The computing system may receive a first input indicating a selection to initiate an inbound transfer, transmit a notification according to the first and second model(s), and receive a second input indicating a selection to initiate a matching inbound transfer.