Transaction System with Account Mapping Logic
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Solution Overview
Problem
Existing accounting techniques and software are time-intensive for managing multiple banking accounts across business and personal finances, particularly during transactions, as they often require manual adjustments and reconciliation.
Innovation Solution
A computer-implemented method for processing transactions using a tokenized universal identifier, which receives transaction data, detokenizes it to identify associated accounts, selects the appropriate account based on merchant and transaction variables, and sends account information to a payment processor for authorization, allowing for automatic account selection and management across multiple accounts.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If manual account selection and reconciliation is used, then account management flexibility is maintained, but time consumption increases significantly
Solution Approach 1:
The system automatically selects and assigns accounts to transactions without requiring manual intervention. The account selection process is self-service automated, where the system uses transaction data, merchant identifiers, and pre-configured account mappings to autonomously determine which account should be charged, eliminating the need for manual account management and reconciliation.
Solution Approach 2:
Accounts are pre-mapped and pre-configured with the system before transactions occur. The account mapping structure is established in advance, allowing the system to quickly retrieve and assign the appropriate account during transaction processing without requiring real-time manual configuration or reconciliation.
2Ease of operation
If multiple banking accounts are managed manually, then comprehensive financial control is maintained, but operational complexity increases
Solution Approach 1:
The system segments the financial management function by separating account selection logic from transaction processing. The account mapping structure is divided into predefined categories and rules, allowing the system to handle multiple accounts through structured segmentation rather than monolithic manual management, thereby reducing operational complexity.
Solution Approach 2:
The system introduces an intermediary account mapping structure that mediates between the user's multiple banking accounts and the transaction processing system. This intermediary layer automatically translates transaction details into appropriate account selections, simplifying the user interface and reducing the complexity of managing multiple accounts directly.
3Productivity
If automated account selection is implemented, then transaction processing efficiency is improved, but system complexity increases
Solution Approach 1:
The account mapping structure serves multiple functions: it stores account information, defines selection criteria, and enables automated account assignment. By making the mapping structure multi-functional, the system achieves automated account selection without proportionally increasing complexity, as the same structure handles multiple operational requirements.
Data Source
AI summary
Processing a transaction includes receiving transaction data for a transaction performed at a merchant, the transaction data including a tokenized universal identifier, a merchant identifier, and a transaction variable; detokenizing the transaction data to determine a universal identifier; identifying multiple accounts associated with the universal identifier; selecting, from the multiple accounts, an account to assign to the transaction, based at least in part on the universal identifier, the merchant identifier, and the transaction variable; and sending account information associated with the selected account to a payment processor to authorize the transaction.