User-Defined Transaction Hiding and Renaming in Digital Banking
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Solution Overview
Problem
Digital banking systems do not provide users with the ability to hide or customize transactions in statements and online transaction lists, which can be inconvenient for users who want to keep certain purchases private or easily identifiable.
Innovation Solution
A method and system that allows customers to hide or rename individual transactions or groups of transactions in both periodic account statements and online transaction lists, with options for footnoting hidden transactions and accounting for their monetary amounts, while retaining original transaction data and allowing users to reinstate hidden transactions at any time.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If all transactions are displayed in statements and online transaction lists, then complete transparency of account activity is achieved, but user privacy is compromised when sensitive purchases need to be kept confidential
Solution Approach 1:
The system segments transaction display into two separate layers: the complete transaction database remains intact for full transparency, while the statement display is segmented to show only selected transactions or aggregated categories. This allows users to control which transactions are visible in statements without compromising the completeness of the underlying data.
Solution Approach 2:
The system introduces an intermediary layer between the transaction database and the statement display. This intermediary (the statement generation system) selectively filters and aggregates transactions based on user-defined criteria, allowing sensitive transactions to be hidden or categorized while maintaining accurate financial records.
2Manufacturing precision
If transaction descriptions are kept as provided by merchants, then accurate record-keeping is maintained, but readability and understanding are reduced when merchants use abbreviations or cryptic names
Solution Approach 1:
The system introduces a user-defined description layer that acts as an intermediary between the original merchant description and the displayed transaction. Users can map cryptic merchant names to meaningful descriptions while the system maintains the original description in the database for accuracy.
Solution Approach 2:
The system creates a copy of the transaction description that users can customize independently from the original merchant-provided description. This copy is used for display purposes while the original remains preserved in the transaction record.
3Adaptability or versatility
If users can hide or rename transactions, then privacy and customization are improved, but system complexity increases due to additional data management requirements
Solution Approach 1:
The system creates simplified copy structures for hidden transactions, storing only essential metadata (transaction ID, custom description, visibility status) rather than duplicating entire transaction records. This reduces the complexity of managing customizations while maintaining full functionality.
Solution Approach 2:
The system designs a universal data structure that handles both standard and customized transaction displays through the same interface. The same database schema and processing logic accommodate both visible and hidden transactions, reducing overall system complexity despite increased functionality.
Data Source
AI summary
A method and system for enabling a user to hide or rename an item in a list of items. The user identifies an item or a set of related items and then designates whether to hide or rename the item(s). The hiding or renaming can be applied to printed lists or to lists displayed in online systems, or both. Various options exist for footnoting the hidden or renamed item, and for compensating for hidden items in printed lists. Original item data including date, description and other information are always retained in the database.