Universal Cloud Connector API for Financial Data Integration
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Solution Overview
Problem
Financial institutions face challenges in scalability and reusability of data integration pipelines due to the need for customized APIs for each client, leading to inefficiencies in processing diverse financial data types and formats.
Innovation Solution
A universal cloud connector with an integrated API that includes authentication and data segregation layers, enabling real-time synchronization and processing of client data through a microservices-based architecture, allowing multiple clients to access and interact with their data securely and efficiently.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If a specific data integration pipeline API is built for each client, then client-specific data processing requirements are met, but scalability and reusability are minimal
Solution Approach 1:
The patent implements a universal data integration pipeline API that can serve multiple clients with different data types and formats. The system uses a common authentication layer and data segregation layer that work across all clients, eliminating the need to build separate pipelines for each client while still meeting their specific requirements through configurable data processing rules.
Solution Approach 2:
The system segments the data integration architecture into distinct layers: authentication layer, data segregation layer, and data processing layer. This segmentation allows each layer to handle specific functions independently, enabling the overall system to be reused across multiple clients while maintaining client-specific data handling capabilities through configuration rather than code changes.
2Adaptability or versatility
If customized APIs are built for each client, then client-specific data formats are supported, but development time and complexity increase
Solution Approach 1:
A single universal API handles multiple data formats and client requirements through configurable parameters and rules. The authentication layer and data segregation layer provide standardized interfaces that work across all clients, reducing development complexity while maintaining support for diverse data formats through flexible data processing configurations.
Solution Approach 2:
The system supports different client-specific data formats by changing processing parameters and configuration settings rather than creating custom APIs. The universal pipeline can be configured with different data type handlers, format converters, and processing rules that are applied dynamically based on the client's requirements, eliminating the need for customized code for each format.
3Reliability
If separate pipelines are created for each client, then client data isolation is ensured, but system efficiency and resource utilization decrease
Solution Approach 1:
The system implements data isolation through a data segregation layer that separates client data logically while allowing physical consolidation. This layer uses client identifiers and access control rules to ensure that each client's data remains isolated and secure, while the underlying infrastructure can efficiently process multiple clients' data through the shared authentication and processing layers, improving resource utilization without compromising data isolation.
Data Source
AI summary
A universal cloud connector is proposed to intake client data using an integrated application programming interface (API) that is capable of processing various client data. Specifically, the integrated API includes at least two layers: (i) an authentication layer authenticates a client based on a client-level secret ID such that the client can only access data resource that is accessible to this particular client; (ii) a data segregation layer that integrates with the client's system so that users of the client (bank) can view and interact with their bank records that are pulled through the authentication layer. Thus, the integration API may act as a collection of micro-services that allow a client's system to synchronize data and workflow states with the server in real-time.