Temporary Account Identity Verification for Financial Operations
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Solution Overview
Problem
The existing methods for user identity verification in financial operations are time-consuming and inefficient, requiring physical presence and manual verification processes, which hinder the ability of non-customers to request operations without a persistent account.
Innovation Solution
A system that utilizes a digital identity network to verify user identities and creates a temporary data record for non-customers to perform operations, allowing them to use a temporary account for value transfers and operations without the need for a persistent account, while also prompting account creation if the transaction amount exceeds a threshold.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If physical presence verification is required for identity verification, then security and reliability are improved, but time consumption and operational efficiency deteriorate
Solution Approach 1:
The patent uses digital copies of government-issued identification documents and biometric data instead of requiring physical presence. The system creates and verifies digital replicas of identity credentials through automated processes, eliminating the need for in-person verification while maintaining security through cryptographic validation and digital signature verification.
Solution Approach 2:
The patent replaces manual, physical verification processes with automated electronic systems. Optical character recognition (OCR) technology scans and extracts data from digital images of ID documents, while algorithmic validation cross-checks information against multiple data sources. This substitution of mechanical human verification with automated computational processes dramatically reduces verification time while maintaining or improving reliability.
2Reliability
If a persistent account is required before performing operations, then security and accountability are improved, but accessibility and ease of operation deteriorate
Solution Approach 1:
The patent performs identity verification and account setup actions automatically in advance, before the user needs to perform operations. The system pre-creates temporary accounts with appropriate permissions and validates user identities through automated processes triggered by the operation request itself, rather than requiring users to complete separate account opening procedures beforehand. This eliminates the barrier of persistent account requirements while maintaining security through pre-validating user identities.
Solution Approach 2:
The patent introduces a temporary account as an intermediary mechanism that bridges the gap between security requirements and operational accessibility. This temporary account structure allows the system to maintain accountability and security tracking without requiring long-term persistent account commitments. The temporary account serves as a mediator that enables immediate operation execution while preserving the ability to track and audit transactions.
3Measurement precision
If manual verification processes are used, then verification accuracy is improved, but productivity and operational efficiency deteriorate
Solution Approach 1:
The patent divides the verification process into multiple independent modular stages: document image capture, optical character recognition, data extraction, validation rule application, cross-reference checking, and final approval. Each module performs a specific verification function independently, allowing parallel processing of multiple verification tasks simultaneously. This segmentation enables the system to maintain thorough verification accuracy while dramatically increasing operational throughput through concurrent processing capabilities.
Solution Approach 2:
The patent transforms verification from a manual qualitative assessment into an automated quantitative process. The system converts document images into machine-readable data parameters, applies algorithmic validation rules with defined thresholds, and uses cryptographic parameter verification for digital signatures. This parameter transformation enables automated systems to achieve verification accuracy comparable to or exceeding manual processes while increasing productivity through automated high-speed processing.
Data Source
AI summary
A server comprises a communications module; a processor coupled with the communications module; and a memory coupled to the processor and storing processor-executable instructions which, when executed by the processor, configure the processor to receive, via the communications module and from a computing device, a signal representing a request to perform an operation from a user; determine that the user does not have a persistent account; and when it is determined that the user does not have a persistent account: obtain, via the communications module and from a digital identity network, a signal including verified identity data of the user; generate a temporary data record and associate the temporary data record with the verified identity data of the user; receive a value transfer based on the requested operation and store the received value in the temporary data record; and perform the operation using the stored value in the temporary data record.