Transaction Processing Ecosystem Message Bus Normalization
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Solution Overview
Problem
Current financial transaction processing systems in financial institutions are fragmented, with redundant features and inconsistent data, leading to inefficiencies and a lack of unified, real-time product offerings and reporting.
Innovation Solution
A transaction processing ecosystem with a message bus and multiple processors that normalizes raw data into a standard format, enabling end-to-end transaction processing through an event-driven architecture, consolidating functions into a single platform and improving scalability and regulatory controls.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If multiple redundant systems are used to process transactions, then transaction processing coverage is improved, but system complexity and duplication increase
Solution Approach 1:
The patent implements a universal transaction processing platform that can handle multiple transaction types (payments, settlements, clearings, etc.) through a single standardized system. The platform uses common data models and processing engines that can be configured for different transaction scenarios, eliminating the need for separate redundant systems for each transaction type while maintaining comprehensive processing coverage.
Solution Approach 2:
The patent segments the transaction processing system into modular functional components (capture interface, normalization layer, processing engines, reporting modules) that can be independently deployed and configured. This modular architecture allows the system to provide comprehensive transaction processing coverage through coordinated modules rather than requiring complete redundant systems, thereby reducing overall system complexity.
2Stability of the object's composition
If standardized data models are implemented, then data consistency is improved, but implementation complexity increases
Solution Approach 1:
The patent introduces a normalization layer that acts as an intermediary between diverse data sources and the standardized data models. This normalization layer automatically transforms various input data formats into the standardized common data models, ensuring data consistency across the platform without requiring complex manual implementation at each data source. The intermediary handles the complexity of standardization centrally rather than distributed across multiple systems.
3Productivity
If redundant features are eliminated, then system efficiency is improved, but functionality may be reduced
Solution Approach 1:
The patent designs processing engines with universal capabilities that can perform multiple transaction processing functions (validation, routing, settlement, clearing) within single engine instances. This multi-functionality eliminates redundant features across separate systems while preserving comprehensive functionality, as the same engine can be configured to handle different transaction types and processing requirements without needing duplicate specialized systems.
Data Source
AI summary
An embodiment of the present invention is directed to financial transaction ecosystems. A transaction processing ecosystem comprises: a plurality of data sources; a capture interface; and a financial transaction processing system comprising a message bus and a plurality of processors interfacing with the message bus and configured to perform: receiving, via the capture interface, raw data for a payment transaction, wherein the raw data comprises client instructions; normalizing, via the capture interface, the raw data into a normalized transaction format based on a standard data model; publishing, via the capture interface, the normalized transaction format to a message bus; processing, via a first processor of the plurality of processors, the normalized transaction format; and completing the transaction.