Pre-populated Digital Form via URL Embedded Variables

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Solution Overview

Problem

Consumers face challenges in accessing convenient and affordable financing options for purchases, particularly for high-value items like vehicles, due to lack of awareness and cumbersome application processes.

Innovation Solution

A computing system that generates a scannable image with embedded variables, allowing users to access a partially populated digital data submission form for borrowing facilities, such as loan applications, via a URL-associated input, facilitating easier data entry and streamlined financial applications.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Ease of operation

If consumers manually fill out complete loan application forms, then accurate financial information can be submitted, but the process becomes time-consuming and complex

Engineering Contradiction:

Improveease of form completionVSAvoidtime required for application

Core Design Contradiction:

Ease of operationVSLoss of time

Solution Approach 1:

The system performs preliminary actions by automatically pre-populating loan application forms with consumer data from credit bureaus and financial databases before the consumer submits the application. This advance preparation significantly reduces the time and effort required for form completion while maintaining accuracy of financial information.

Inventive Principle:

Principle #10Preliminary action

Solution Approach 2:

The system enables self-service by allowing consumers to access and review their pre-populated application data, make necessary corrections, and submit applications independently without requiring manual data entry or extensive assistance from loan officers, thereby streamlining the application process.

Inventive Principle:

Principle #25Self-service

2Loss of information

If consumers are provided with comprehensive financing information, then awareness of options improves, but the complexity of accessing and understanding this information increases

Engineering Contradiction:

Improveaccess to financing informationVSAvoidcomplexity of information access

Core Design Contradiction:

Loss of informationVSDevice complexity

Solution Approach 1:

The system acts as an intermediary between consumers and financial institutions by providing a centralized digital platform that aggregates financing information from multiple lenders and presents it in a standardized, easy-to-compare format. This intermediary role simplifies access to comprehensive financing information while reducing the complexity consumers would otherwise face when dealing with multiple institutions separately.

Inventive Principle:

Principle #24Intermediary (Mediator)

3Productivity

If manual data entry processes are used for loan applications, then data accuracy can be verified, but the processing efficiency decreases

Engineering Contradiction:

Improveapplication processing speedVSAvoiddata accuracy

Core Design Contradiction:

ProductivityVSMeasurement precision

Solution Approach 1:

The system replaces manual mechanical data entry processes with automated electronic data retrieval and population mechanisms. Data is automatically fetched from credit bureaus and financial databases, populated into application forms, and transmitted to lenders electronically, thereby increasing processing speed while maintaining data accuracy through automated verification protocols.

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

Data Source

PatentUS20240354844A1URL-based data transmission systems and methods facilitating digital data form access

Publication Date: 2024.10.24 TRUIST BANK

AI summary

Systems and methods transmit, across a network and based on a user providing a URL-associated input via a graphical user interface of a user device, a request to a public web server to obtain an electronic document comprising a partially populated digital data submission form that comprises populated variable(s), wherein the URL-associated input comprises embedded variable(s). Based on transmitting the request, the partially populated digital data submission form comprising the one or more populated variables is received and displayed via the graphical user interface of the user device, wherein the partially populated digital data submission form is associated with a borrowing facility.