Transaction Data Parsing via Application Proxy and Entity Matching
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Solution Overview
Problem
Existing systems struggle to efficiently parse and normalize user account data, particularly transaction descriptions, due to the lack of standardized formats and proprietary APIs used by external institutions, making it difficult for developers to access and utilize this data effectively.
Innovation Solution
A system and method utilizing an application proxy approach with a normalized API interface, enabling access to external user account systems by simulating first-party applications and abstracting proprietary APIs, while employing a masked language model and bidirectional parsing to extract and normalize location and entity information from transaction data.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If proprietary APIs are used by external institutions, then access to user account data is enabled, but data standardization and interoperability deteriorate
Solution Approach 1:
The patent introduces a proxy application as an intermediary layer between the user's first-party application and the external institution's proprietary API. This proxy application receives requests from the first-party application, translates them into the specific proprietary API format required by the external institution, executes the API call, and then translates the response back into a standardized format for the first-party application. This mediator resolves the contradiction by enabling reliable access to proprietary APIs while maintaining data standardization through the translation layer.
Solution Approach 2:
The patent applies parameter changes by transforming the interface parameters between different systems. The proxy application changes the parameter format, data types, and structure when communicating with external institutions using proprietary APIs, while presenting a consistent standardized interface to the first-party application. This parameter transformation allows the system to adapt to different institutional requirements without compromising data standardization.
2Quantity of substance
If raw transaction data is obtained from external accounts, then data completeness is improved, but data usability and parsing efficiency deteriorate
Solution Approach 1:
The patent implements preliminary action by performing data parsing, normalization, and enrichment operations before the raw transaction data is received from external institutions. The system pre-processes data formats, defines parsing rules for different transaction types, and prepares templates for extracting meaningful information such as merchant names, locations, and categories. This preliminary preparation enables efficient parsing and immediate usability of the raw data upon receipt.
Solution Approach 2:
The patent segments the data processing into distinct stages: raw data receipt, parsing according to predefined rules, normalization into a standard format, and enrichment with additional context. By dividing the processing workflow into these segments, the system can handle data completeness requirements while maintaining parsing efficiency through specialized handlers for different data types and formats.
3Ease of operation
If developers directly access external user account systems, then API functionality is utilized, but security and credential exposure risks increase
Solution Approach 1:
The patent uses a proxy application as a security intermediary that sits between the first-party application and the external institution's API. The proxy application holds the credentials and authentication tokens, receiving requests from the first-party application, authenticating them through the proxy, and forwarding the requests to the external institution. This intermediary approach allows developers to access API functionality while preventing direct credential exposure, as the first-party application never touches the external institution's credentials.
Solution Approach 2:
The patent applies the copying principle by creating a proxy application that replicates the authentication and communication behavior of a first-party application. Instead of the first-party application directly accessing external APIs, the proxy creates a simulated or replicated version of the authentication flow, maintaining security by keeping credentials isolated in the proxy while allowing the first-party application to interact with the system through a simplified interface.
Data Source
AI summary
Systems and methods for data parsing are disclosed. In one aspect, a method of parsing raw data associated with one or more transactions involves receiving a text string including raw data for a transaction, matching the text string to a plurality of locations within a location corpus to extract location information from the text string, and identifying a candidate entity from the text string based on a similarity score with respect to a plurality of entities within an entity corpus. The method further involves in response to the similarity score of the identified candidate entity being less than a threshold score, generating entity information using the tokens indicative of entity information, and generating normalized transaction data including the extracted location information and one of the identified candidate entity or the generated entity information.