Trusted Repository System for Tamper-Evident Transaction Audit Trails
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Solution Overview
Problem
Current systems lack an overarching solution for securely storing and auditing electronic transaction data across multiple stages and transactions, including lead generation, loan origination, servicing, collateralization, and securitization, without breaching the chain of trust established by data authentication and management systems.
Innovation Solution
A software-based Trusted Repository System (TRS) that securely uploads and aggregates authenticated transaction data and documents, providing real-time robust aggregate and asset-level reporting, and maintaining distinct audit trails to ensure data integrity and tamper evidence throughout the transaction lifecycle.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If electronic documents and data are stored and managed across multiple stages of transaction, then comprehensive audit and monitoring capability is improved, but system complexity and data management difficulty increase
Solution Approach 1:
The system segments data management into distinct stages (lead generation, loan origination, servicing, collateralization, securitization) with separate but interconnected data stores. Each stage maintains its own authenticated data while linking to previous and subsequent stages through standardized reference identifiers, enabling comprehensive audit capability without overwhelming complexity in any single area.
Solution Approach 2:
The Trusted Repository System acts as an intermediary between multiple third-party systems involved in different transaction stages. It receives authenticated data from each stage, maintains centralized records with tamper-evident timestamps, and provides unified access points for audit and monitoring across the entire transaction lifecycle.
2Adaptability or versatility
If multiple third party systems are involved in data collection at different stages, then transaction functionality is improved, but data aggregation and consistency become more difficult
Solution Approach 1:
The Trusted Repository System provides universal data aggregation capabilities that work across all transaction stages and third-party systems. It uses standardized data formats, authenticated data protocols, and unified identification references to collect, store, and relate data from diverse sources without requiring system-specific customization for each stage.
Solution Approach 2:
The system performs preliminary authentication and verification of data before it enters the repository. Each data element is authenticated by its source system, timestamped, and validated for integrity prior to storage. This preliminary action ensures data consistency and reduces aggregation complexity by pre-resolving potential conflicts or errors.
3Reliability
If data is authenticated and tamper-evident seals are applied, then data integrity is improved, but processing time and system overhead increase
Solution Approach 1:
Authentication seals and tamper-evident timestamps are applied to data elements at the point of entry into the Trusted Repository System, before the data is processed or stored. This preliminary sealing action ensures integrity is established once and for all, eliminating the need for repeated verification processing and reducing overall system overhead.
Solution Approach 2:
The system creates authenticated copies of data elements with embedded cryptographic seals and timestamps, rather than modifying original data streams continuously. These sealed copies can be stored, transferred, and verified without requiring ongoing processing of the original data, reducing real-time processing time while maintaining integrity.
Data Source
AI summary
A software-based method and system for maintaining documents and datasets associated with a given commercial transaction as original, authenticated documents or datasets associated with the underlying transaction. Datasets that have been designated as “auditable” are maintained by the system as tamper-evident and reflect the data actually provided to the system by the transaction owner or a trusted third party at each stage of the transaction. In certain preferred embodiments the system establishes and maintains a verified, original audit trail or trails reflecting the custodial chain of ownership of said data. A visual interface is provided to the stakeholders for secure access to authoritative copies of documents, transaction data and the related audit trails. In addition, the system includes real-time analytics and monitoring with threshold-based alerts, and drill-down capability to any level of the data, documents and audit trail.