Cloud-Based Vendor Payment Data Segmentation
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Solution Overview
Problem
Existing systems for storing and transferring payment information are insecure, as sensitive vendor data is vulnerable to piracy and tampering within business databases, allowing unauthorized access and alteration by employees.
Innovation Solution
A cloud-based engine with separate vendor data and payment platforms, where vendor data is securely stored in a third-party database, and payment instructions are transmitted without sensitive information, using a unique vendor ID to facilitate secure and efficient payments.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If vendor banking information is stored in a business database for payment processing, then payment operations can be executed efficiently, but the data becomes vulnerable to unauthorized access, piracy, and tampering by employees
Solution Approach 1:
The system divides vendor data into two separate components: vendor identification information (stored in business database) and vendor banking information (stored in secure vault). This segmentation allows payment processing to proceed efficiently using the identification data while the sensitive banking information remains protected in a separate, access-controlled environment.
Solution Approach 2:
A secure vault acts as an intermediary between the business database and the payment processing system. The vault receives payment instructions containing vendor identification, retrieves the corresponding banking information securely, and returns it for payment execution without exposing the data to general employee access.
2Ease of operation
If employee access permissions are granted to vendor data for operational needs, then business operations can be performed, but employees may illegally initiate unauthorized withdrawals or tamper with vendor data
Solution Approach 1:
Access rights are segmented between two systems: employees have access to the business database for vendor identification and payment initiation, but only authorized personnel with special credentials can access the secure vault containing banking information. This segmentation eliminates the risk of unauthorized employees accessing or tampering with sensitive data.
Solution Approach 2:
The secure vault serves as an intermediary that mediates access to banking information. Even when employees initiate payment requests, the actual banking data retrieval is handled through the vault's controlled access mechanism, preventing direct employee access to sensitive information.
3Manufacturing precision
If complete vendor data is transmitted for payment processing, then payments can be executed accurately, but sensitive information is exposed during transmission and storage
Solution Approach 1:
The system extracts only the necessary vendor identification information from the complete vendor record and transmits it for payment processing. The banking information is retrieved separately from the secure vault only when needed for actual payment execution, minimizing the exposure of sensitive data during transmission and processing.
Data Source
AI summary
Apparatus for coordinating a rule-based relationship between a bank, a vendor and a merchant is provided. The apparatus may include a vendor data platform, a vendor payment platform and a vendor clearing platform. The vendor data platform may receive a vendor name, a vendor identification number and vendor banking information and may this information into a third party database maintained by a third party. The vendor payment platform may receive the vendor identification number and a payment amount electronically associated with the vendor identification number without the banking information and transmit, to the third party, the vendor identification number and the payment amount. The vendor clearing platform may receive, from the third party, the payment amount and the banking information, and may transmit information to a clearing house. The information may initiate a transfer of funds into a vendor bank account.