Short-Range Communication Channel for Secure Customer Onboarding
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Solution Overview
Problem
Current customer onboarding processes in financial institutions are time-consuming, prone to errors, and unpleasant for customers, requiring manual paperwork and transcription, which is inefficient and insecure.
Innovation Solution
A system and method using a user device with a personal information database and communication circuit to establish a short-range communication channel with a financial institution's computing device for secure and efficient transmission of personal information, enabling fast and error-free enrollment through NFC or Bluetooth protocols, with optional secure element storage for enhanced security.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If manual paperwork and transcription are used for customer enrollment, then security and accuracy may be maintained through careful handling, but the process becomes time-consuming and labor-intensive
Solution Approach 1:
The patent replaces the mechanical system of manual paperwork and transcription with an electronic system using mobile devices to capture and transmit customer information directly to the financial institution's system. This substitution eliminates manual data entry while maintaining accuracy through direct digital transmission, thereby reducing both time and labor requirements.
2Device complexity
If manual paperwork is used for customer enrollment, then existing systems can be maintained with minimal technical infrastructure, but the process becomes prone to errors and unpleasant for customers
Solution Approach 1:
The patent replaces error-prone manual paperwork with electronic data capture and transmission systems. Mobile devices with cameras and communication capabilities automatically capture customer information and transmit it digitally, eliminating transcription errors while requiring only basic mobile device infrastructure rather than complex centralized systems.
3Ease of operation
If customers visit branch locations to enroll, then personal interaction and verification can be provided, but the process becomes inconvenient and time-consuming for customers
Solution Approach 1:
The patent enables customers to complete enrollment independently using their own mobile devices. The system allows customers to capture their own information, initiate the enrollment process, and receive confirmation without requiring physical presence at a branch or assistance from bank staff, thereby maximizing convenience while minimizing time investment.
4Reliability
If traditional enrollment processes are used, then existing infrastructure can be maintained, but security vulnerabilities and fraud risks remain high
Solution Approach 1:
The patent replaces insecure manual processes with electronic data transmission through mobile devices. The system uses digital communication protocols and electronic verification methods that provide inherent security features such as data encryption and digital authentication, improving security while maintaining relatively simple implementation through standard mobile device capabilities.
Data Source
AI summary
Systems, methods, and apparatuses for enrolling a user with a product of an institution are provided. One or more processors of a user device perform operations including: establishing a short-range communication channel with a computing device associated with an institution based on a tap exchange; providing information to the computing device over the short-range communication channel, the information associated with an enrollment of a user with a product of the institution; and automatically ceasing the short-range communication channel based on at least one of a predetermined time period or a location of the user device.