Virtual Account Segmentation for Real-Time Transaction Categorization
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Solution Overview
Problem
Conventional Internet banking systems lack convenience in managing deposit/withdrawal transactions by item of expenditure, as users must manually sum and categorize electronic data, cannot specify expenditure items during transfers, and face difficulties in real-time tracking and managing multiple accounts.
Innovation Solution
An account management system that creates virtual accounts linked to banking accounts, allowing for real-time summation and automatic distribution of transactions by expenditure item, with features like virtual account opening and inter-account processing, enabling users to manage and track deposits/withdrawals easily across multiple accounts.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If conventional Internet banking system is used, then users can access banking services through the Internet, but users cannot automatically sum and categorize deposit/withdrawal transactions by expenditure item
Solution Approach 1:
The patent segments the single banking account into multiple virtual accounts, each dedicated to a specific expenditure item or category. This segmentation enables automatic categorization of transactions as they occur, eliminating the need for manual sorting and summing of transactions by expenditure type.
Solution Approach 2:
The patent introduces an intermediary account management system that automatically intercepts and processes transaction data between the banking account and the user. This intermediary system categorizes transactions by expenditure item in real-time, preventing the loss of time that would otherwise be required for manual data processing.
2Ease of operation
If users have multiple banking accounts for different purposes, then users can separate expenses by account, but managing multiple accounts becomes troublesome
Solution Approach 1:
Instead of creating multiple separate banking accounts, the patent segments a single banking account into multiple virtual accounts. Each virtual account represents a different expenditure category or purpose, providing the organizational benefits of multiple accounts without the management complexity.
Solution Approach 2:
The patent merges the functionality of multiple separate banking accounts into a single unified account structure with virtual sub-accounts. This combining approach maintains the separation of expenses by category while simplifying account management, as users only need to manage one account instead of multiple accounts.
3Ease of operation
If Internet terminal equipment with display and printer is used, then users can obtain form issuance service, but users still cannot automatically sum transactions by expenditure item
Solution Approach 1:
The patent introduces an intermediary account management system that automatically processes and categorizes transaction data. This intermediary layer handles the complex task of summing transactions by expenditure item, eliminating the need for users to manually process data even when using terminal equipment with display and printer capabilities.
Solution Approach 2:
The system enables self-service automatic categorization where transactions are automatically summed and categorized by expenditure item without requiring user intervention. The system performs this function autonomously, reducing the operational burden on users despite having access to terminal equipment.
Data Source
AI summary
This invention provides novel and improved account management system, account management method and account management program, capable of summing up the deposit/withdraw according to the item of expenditure in real-time and automatically with regard to any accounts of user's. More specifically, when a client of a banking agency is registered as the user of a system 10, a system account corresponding respectively to the user's banking account opened at the banking agency is opened in the system 10. The user requests for the openings of one or more virtual accounts related to each of the system account by accessing the system 10 from a user terminal A22a or a user terminal B22b through the Internet 21. Preferably, the virtual account is opened according to an item of expenditure.