Tag-Based Identifier Intermediary for Cross-Platform Fund Transfer

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Solution Overview

Problem

Interoperability issues between digital transaction platforms limit the wide applicability of fund transfer systems due to incompatibility of data, particularly when users are reluctant to link their bank accounts with non-bank entities, and technical hurdles prevent seamless transactions between different entities.

Innovation Solution

A computer-implemented method using tag-based identifiers, where a provider computing system receives a transfer tag, performs a tag conversion process to create a tag-based identifier, and generates a transfer request to initiate fund transfers, enabling interoperability between native, non-native, and hybrid systems by using a tag-related domain to create corresponding tag-based identifiers.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Adaptability or versatility

If users link their bank accounts with non-bank entity digital transaction services, then transaction capability is enabled, but user security concerns and reluctance increase

Engineering Contradiction:

Improvetransaction capabilityVSAvoiduser security concerns

Core Design Contradiction:

Adaptability or versatilityVSObject-affected harmful factors

Solution Approach 1:

The patent introduces a tag-based identifier system that acts as an intermediary between users and their bank accounts. Instead of directly linking bank account numbers, the system uses unique tags (e.g., email addresses, phone numbers, or custom identifiers) to represent accounts. This intermediary layer allows transaction capability while reducing user security concerns by not exposing sensitive bank account information.

Inventive Principle:

Principle #24Intermediary (Mediator)

Solution Approach 2:

The patent creates a virtual copy of the bank account through a tag-based identifier. Rather than using the actual bank account number, the system generates a representative tag that functions similarly for transaction purposes. This copying approach enables transactions while protecting the original sensitive information from exposure.

Inventive Principle:

Principle #26Copying

2Ease of manufacture

If different digital transaction platforms use their own data formats, then platform-specific functionality is optimized, but interoperability between platforms deteriorates

Engineering Contradiction:

Improveplatform-specific functionalityVSAvoidinteroperability

Core Design Contradiction:

Ease of manufactureVSAdaptability or versatility

Solution Approach 1:

The patent implements a universal tag-based identifier system that can represent bank accounts across different digital transaction platforms. The same tag format can be used by multiple platforms to identify accounts, enabling interoperability while allowing each platform to maintain its specific processing logic and functionality.

Inventive Principle:

Principle #6Universality (Multi-functionality)

Solution Approach 2:

The patent transforms the account identification parameter from platform-specific formats (different data structures, formats, and protocols) to a unified tag-based format. This parameter change enables different platforms to exchange and process account information consistently, improving interoperability while maintaining platform-specific optimizations through the conversion layer.

Inventive Principle:

Principle #35Parameter changes

3Measurement precision

If bank account information is directly shared between users, then transaction accuracy is improved, but information security and privacy risks increase

Engineering Contradiction:

Improvetransaction accuracyVSAvoidinformation security

Core Design Contradiction:

Measurement precisionVSLoss of information

Solution Approach 1:

The patent uses tag-based identifiers as intermediaries to represent bank accounts in transactions. The tag system maintains transaction accuracy by uniquely identifying accounts while preventing direct exposure of sensitive bank account information, thus reducing information security risks and protecting user privacy.

Inventive Principle:

Principle #24Intermediary (Mediator)

4Reliability

If comprehensive user registration is required for transactions, then system reliability is improved, but ease of operation and user onboarding deteriorate

Engineering Contradiction:

Improvesystem reliabilityVSAvoiduser onboarding

Core Design Contradiction:

ReliabilityVSEase of operation

Solution Approach 1:

The patent performs preliminary registration of tag-based identifiers with the transfer service computing system before transactions occur. During onboarding, users register their desired tags (such as email addresses or custom identifiers), and the system pre-associates these tags with their bank accounts. This preliminary action ensures system reliability through proper account verification while simplifying subsequent transactions, as users only need to provide the pre-registered tag rather than completing comprehensive registration each time.

Inventive Principle:

Principle #10Preliminary action

Data Source

PatentUS20240273488A1Systems and methods for native, non-native, and hybrid registration and use of tags for real-time services

Publication Date: 2024.08.15 WELLS FARGO BANK NA

AI summary

A computer-implemented method includes receiving, by a provider computing system, a desired transfer tag from a user device. The computer-implemented method further includes performing, by the provider computing system, a tag conversion process on the desired transfer tag to create a desired-tag-based identifier corresponding to the desired transfer tag. The computer-implemented method further includes registering, by the provider computing system, an account of a user associated with the user device for a transfer service provided by a transfer service computing system using the desired-tag-based identifier.