Unified Account Management System for Automated Transaction Processing
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Current account management systems in securities trading and retail sales environments are cumbersome, requiring manual data re-entry and lacking seamless integration between processes, leading to inefficiencies and risks of error due to breaks in data flow during transitions between core processes.
Innovation Solution
A computer-implemented information management system with a database for financial information, business rules, and user profiles that allows real-time updates and access control, enabling automated data handling and seamless workflow by storing and managing client account information and business logic centrally, accessible via a web interface.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If manual data re-entry is used during transitions between core processes, then data can be transferred between systems, but inefficiencies and errors occur due to breaks in data flow
Solution Approach 1:
The patent merges multiple separate core processes (account opening, trade identification, order execution, settlement, billing) into a unified automated workflow where data flows seamlessly between processes without manual intervention. The system integrates these processes through automated data exchange and centralized account information management, eliminating the need for manual data re-entry and ensuring continuous data flow throughout the transaction lifecycle.
2Reliability
If real-time account information is maintained across all processes, then data accuracy improves, but system complexity increases
Solution Approach 1:
The patent implements a universal account information structure that serves all core processes (account opening, trade identification, order execution, settlement, billing) simultaneously. This multi-functional account data model allows the same account information to be accessed and updated across different processes without requiring separate data storage or manual synchronization, thereby maintaining data accuracy while avoiding excessive system complexity.
3Productivity
If automated data handling is implemented across all core processes, then operational efficiency increases, but implementation complexity increases
Solution Approach 1:
The patent segments the automated system into distinct functional modules corresponding to each core process (account opening module, trade identification module, order execution module, settlement module, billing module). Each module handles specific tasks automatically while interfacing with others through standardized data exchange protocols. This segmentation enables automated data handling across all processes while managing implementation complexity through modular design and clear process boundaries.
Data Source
AI summary
An information management system that consists of data, a rules database, and user profiles is provided. The rules database stores information about system responses to modifications of the data. The user profiles store information concerning the availability of information and displays depending upon the user. Automatic updates to user profiles in response to modifications to the data are performed.