Stateless Data Translation for Auditable Funds Transfer Tracking
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Solution Overview
Problem
Current funds transfer systems face challenges in tracking and auditing transactions across multiple correspondent banks, risk of information loss, and lack of currency exchange transparency.
Innovation Solution
A stateless application that translates and submits data in a tamper-proof sequence, using a shared ledger to ensure secure and transparent funds transfer, enabling reliable communication between financial systems and client platforms.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If data is transferred across multiple correspondent banks using traditional systems, then funds transfer capability is enabled, but tracking and auditing becomes difficult and information loss risk increases
Solution Approach 1:
The patent introduces a message broker as an intermediary component that receives payment messages from source systems, validates them against schemas, and routes them to destination systems. This mediator ensures that messages are properly formatted, tracked, and delivered, preventing information loss and enabling centralized auditing of all transactions across the network.
Solution Approach 2:
The system implements feedback mechanisms through acknowledgment messages and status tracking. When a payment message is processed or fails at any correspondent bank, the system generates feedback messages that traverse the network back to the originator, enabling real-time tracking and auditing of transaction states without losing information.
2Reliability
If traditional funds transfer systems are used, then payment processing is enabled, but currency exchange transparency is reduced
Solution Approach 1:
The message broker serves as a transparent intermediary that logs and tracks all currency exchange operations. It maintains a centralized view of all payment messages including exchange rate information, enabling transparent tracking of currency conversions across multiple banks without requiring complex point-to-point tracking between each correspondent bank pair.
3Reliability
If stateful applications are used to maintain transaction data, then transaction tracking is improved, but system complexity and data security risks increase
Solution Approach 1:
The patent extracts the state management function from individual application instances and relocates it to the message broker and shared ledger infrastructure. Individual applications become stateless, sending and receiving messages that contain all necessary transaction state information, thereby reducing system complexity and eliminating security risks associated with distributed state management while maintaining full transaction tracking capability.
Data Source
AI summary
Systems and methods for communication of electronic data in which one or more memory-coupled entity processors programmed to execute a stateless application that persists no data except configuration data in the stateless application and causes the at least one entity processor to receive data in a first format from a data source to which the stateless application executing on the at least one entity processor is loosely coupled; translate the received data to a second format for a data destination; and submit the data in the second format to the data destination to which the stateless application executing on the at least one entity processor is also loosely coupled.