Systems and methods for determining a mode of financial transaction based on identifiers associated with participants of the financial transaction

A computer implemented method for automatically determining a mode of financial transaction to utilize for a financial transaction based on account identifiers associated with participants of the financial transaction, the method comprising:

• generating and presenting at a user device, a financial transfer interface in response to receiving from the user device a financial transfer initiation request for a financial transfer, wherein the financial transaction comprises the financial transfer;
• receiving, from the user device, a selection of a sender account corresponding to a sender participant from a list of sender accounts displayed on the financial transfer interface;
• applying a machine learning algorithm to recommend, by displaying on the financial transfer interface, a list of recipient account identifiers corresponding to a plurality of recipient participants of the financial transfer based on analyzing one or more account parameters associated with the sender participant of the financial transfer, wherein the machine learning model comprises inductive logic programming and iteratively updates its algorithm each time users make financial transactions to increase its recommendation accuracy;
• receiving a selection of one recipient account identifier from the recommended list of recipient account identifiers from the user device, wherein the selected recipient account identifier corresponds to one recipient participant from the plurality of recipient participants;
• determining a plurality of modes of financial transaction to perform the financial transfer based on the selected recipient account identifier, wherein at least one of the plurality of modes of financial transaction includes one or more transfer parameters;
• ranking and displaying by rank on the financial transfer interface the plurality of modes of financial transaction based on one or more transaction rules associated with the one or more transfer parameters;
• receiving a selection of one mode of financial transaction from the plurality of modes of financial transaction from the user device;
• receiving a transfer amount for the financial transfer via the financial transfer interface as an input from the user device;
• and
• upon receiving a transfer confirmation request from the user device, transferring the transfer amount from the sender account corresponding to the sender participant to the selected recipient account identifier corresponding to one of the recipient participants by utilizing the selected mode of financial transaction.

A non-transitory computer-readable medium storing instructions executable by one or more processors to perform operations for automatically determining a mode of financial transaction to utilize for a financial transaction based on account identifiers associated with participants of the financial transaction, the operations comprising:

• generating and presenting at a user device, a financial transfer interface in response to receiving from the user device a financial transfer initiation request for a financial transfer, wherein the financial transaction comprises the financial transfer;
• receiving, from the user device, a selection of a sender account corresponding to a sender participant from a list of sender accounts displayed on the financial transfer interface;
• applying a machine learning algorithm to recommend, by displaying on the financial transfer interface, a list of recipient account identifiers corresponding to a plurality of recipient participants of the financial transfer based on analyzing one or more account parameters associated with the sender participant of the financial transfer, wherein the machine learning model comprises inductive logic programming and iteratively updates its algorithm each time users make financial transactions to increase its recommendation accuracy;
• receiving a selection of one recipient account identifier from the recommended list of recipient account identifiers from the user device, wherein the selected recipient account identifier corresponds to one recipient participant from the plurality of recipient participants;
• determining a plurality of modes of financial transaction to perform the financial transfer based on the selected recipient account identifier, wherein at least one of the plurality of modes of financial transaction includes one or more transfer parameters;
• ranking and displaying by rank on the financial transfer interface the plurality of modes of financial transaction based on one or more transaction rules associated with the one or more transfer parameters;
• receiving a selection of one mode of financial transaction from the plurality of modes of financial transaction from the user device;
• receiving a transfer amount for the financial transfer via the financial transfer interface as an input from the user device;
• and
• upon receiving a transfer confirmation request from the user device, transferring the transfer amount from the sender account corresponding to the sender participant to the selected recipient account identifier corresponding to one of the recipient participants by utilizing the selected mode of financial transaction.