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US 2012/0239558 A1Published application
Method and systems for efficiently processing large volumes of complex small value financial transactions
AssigneeGridX, Inc.
InventorJian Zhang
Life of this patent
Estimating the term…
Abstract
The present invention provides a means for a system to model the financial terms of a contract. The system receives a contract and the details of a transaction governed by the contract as inputs and outputs a processed transaction. The system models the financial terms of the contract as a function of one or more parameters. Each of the parameters are further reduced to one or more rules, where each rule represents the terms of the contract as a set of conditions and associated actions. The actions are performed by the system when a corresponding condition is satisfied. The system determines the values of the various parameters by analyzing the outcome of the condition-action sets in relation to the given input transaction.
Claims40
A method for determining a payment under a contract, the method comprising:
- modeling, by a financial computing system, financial terms of the contract as a function of one or more first parameters, each of the one or more first parameters being a function of one or more second parameters, each of the one or more first or second parameters associated with one or more rules, wherein each rule represents terms of the contract as a set of a plurality of conditions and associated plurality of actions, each of the plurality of actions being performed when a corresponding plurality of conditions is satisfied;
- forwarding, by the financial computing system, one or more rules to a contract rule-engine;
- for each of the first or second parameters, interpreting, by the contract rule-engine, a relationship between the one or more rules associated with the given parameter;
- receiving, by the financial computing system, details of a financial transaction governed by the contract;
- identifying, by the financial computing system, one or more transaction conditions from the received details;
- determining, by the financial computing system, a state value of the one or more transaction conditions based on the details of the financial transaction;
- traversing, by the financial computing system, the interpreted relationship of each parameter based on the computed state value of the one or more transaction conditions to determine a transaction value for each of the plurality of parameters;
- and
- determining, by the financial computing system, the payment under the financial terms of the contract as a function of the determined transaction values of the one or more first or second parameters.
6 more elements
A method for determining a payment under a contract, the method comprising:
- modeling, by a financial computing system, financial terms of the contract as a function of one or more parameters, each of the one or more parameters represented as a separate decision tree;
- representing, by a financial computing system, each decision tree associated with the contract in a format suitable for computer implemented traversal;
- receiving, by a financial computing system, details of a financial transaction governed by the contract;
- traversing, by a financial computing system, each decision tree associated with each of the one or more parameters based on the received details of the financial transaction to determine a value for each of the one or more parameters;
- and
- determining, by the financial computing system, the payment according to financial terms specified in the contract, the payment calculated as a function of the determined transaction values of the one or more parameters.
3 more elements
A method for modeling terms of a contract, the method comprising:
- modeling, by a financial computing system, financial terms of the contract as a function of one or more first parameters, each of the one or more first parameters being a function of one or more second parameters, each of the one or more first or second parameters associated with one or more rules, wherein each rule represents terms of the contract as a set of a plurality of conditions and associated plurality of actions, each of the plurality of actions being performed when a corresponding plurality of conditions is satisfied.
A financial computing system for determining a payment under a contra the system comprising;
- a financial processing module for modeling financial terms of the contract as a function of one or more first parameters, each of the one or more first parameters being a function of one or more second parameters, each of the one or more first or second parameters associated with one or more rules, wherein each rule represents terms of the contract as a set of a plurality of conditions and associated plurality of actions, each of the plurality of actions being performed when a corresponding plurality of conditions is satisfied;
- the financial processing module for forwarding one or more rules to a contract rule-engine;
- for each of the first or second parameters, a contract rule-engine module for interpreting a relationship between the one or more rules associated with the given parameter;
- the financial processing module for receiving details of a financial transaction governed by the contract;
- the financial processing module for identifying one or more transaction conditions from the received details;
- the financial processing module for determining a state value of the one or more transaction conditions based on the details of the financial transaction;
- the financial processing module for traversing the interpreted relationship of each parameter based on the computed state value of the one or more transaction conditions to determine a transaction value for each of the plurality of parameters;
- and
- the financial processing module for determining the payment under the financial terms of the contract as a function of the determined transaction values of the one or more first or second parameters.
6 more elements
A financial computing system for determining a payment under a contract, the system comprising:
- a financial computing module for modeling financial terms of the contract as a function of one or more parameters, each of the one or more parameters represented as a separate decision tree;
- the financial computing module for representing each decision tree associated with the contract in a format suitable for computer implemented traversal;
- the financial computing module for receiving details of a financial transaction governed by the contract;
- the financial computing module for traversing each decision tree associated with each of the one or more parameters based on the received details of the financial transaction to determine a value for each of the one or more parameters;
- and
- the financial computing module for determining the payment according to financial terms specified in the contract, the payment calculated as a function of the determined transaction values of the one or more parameters.
3 more elements
A financial computing system for determining a payment under a contract, the system comprising:
- a financial computing module for modeling financial terms of the contract as a function of one or more first parameters, each of the one or more first parameters being a function of one or more second parameters, each of the one or more first or second parameters associated with one or more rules, wherein each rule represents terms of the contract as a set of a plurality of conditions and associated plurality of actions, each of the plurality of actions being performed when a corresponding plurality of conditions is satisfied.
Dependencies are inferred from the claim text.