View source for 20240037663. MODEL-BASED CONFIGURATION OF FINANCIAL PRODUCT OFFERINGS simplified abstract (Teachers Insurance and Annuity Association of America)

=MODEL-BASED CONFIGURATION OF FINANCIAL PRODUCT OFFERINGS=


==Organization Name==

[[:Category:Teachers Insurance and Annuity Association of America|Teachers Insurance and Annuity Association of America]]


[[Category:Teachers Insurance and Annuity Association of America]]

==Inventor(s)==

[[:Category:Pankaj Agrawal of Concord NC (US)|Pankaj Agrawal of Concord NC (US)]][[Category:Pankaj Agrawal of Concord NC (US)]]

[[:Category:Alexis S. Pecoraro of Huntersville NC (US)|Alexis S. Pecoraro of Huntersville NC (US)]][[Category:Alexis S. Pecoraro of Huntersville NC (US)]]

[[:Category:James G. Rauscher of Erie CO (US)|James G. Rauscher of Erie CO (US)]][[Category:James G. Rauscher of Erie CO (US)]]

[[:Category:John V. Hintze of Charlotte NC (US)|John V. Hintze of Charlotte NC (US)]][[Category:John V. Hintze of Charlotte NC (US)]]

[[:Category:Daniel R. Hursh of Dayton OH (US)|Daniel R. Hursh of Dayton OH (US)]][[Category:Daniel R. Hursh of Dayton OH (US)]]

[[:Category:Gregory B. Bahns of West Chester OH (US)|Gregory B. Bahns of West Chester OH (US)]][[Category:Gregory B. Bahns of West Chester OH (US)]]

[[:Category:Edward J. Miller, Jr. of Iola KS (US)|Edward J. Miller, Jr. of Iola KS (US)]][[Category:Edward J. Miller, Jr. of Iola KS (US)]]

==MODEL-BASED CONFIGURATION OF FINANCIAL PRODUCT OFFERINGS - A simplified explanation of the abstract==


This abstract first appeared for US patent application 20240037663 titled 'MODEL-BASED CONFIGURATION OF FINANCIAL PRODUCT OFFERINGS

==Simplified Explanation==

The patent application describes methods and systems for automatically configuring financial product offerings. It involves receiving a graph model representing different permutations of definition provisions of a financial product and translating it into definitions of business objects. These business objects are then translated into definitions of services to be implemented by the financial product offering. The user can provide service configuration options through a user interface, which are then applied to the service definitions. Based on these definitions, service configuration data is generated for the offering of the financial product.

* The patent application describes a method for automatically configuring financial product offerings.
* It involves using a graph model to represent different permutations of definition provisions of a financial product.
* The graph model is then translated into definitions of business objects.
* These business objects are further translated into definitions of services to be implemented by the financial product offering.
* The user can provide service configuration options through a user interface.
* These service configuration options are applied to the definitions of the services.
* Based on the definitions of the services, service configuration data is generated for the offering of the financial product.

Potential applications of this technology:

* Financial institutions can use this technology to automate the configuration of their financial product offerings.
* It can streamline the process of defining and implementing different permutations of financial product provisions.
* This technology can be used in online platforms or applications that offer financial products to customers.

Problems solved by this technology:

* Manual configuration of financial product offerings can be time-consuming and prone to errors.
* This technology automates the process, reducing the need for manual intervention and minimizing errors.
* It allows for efficient management of different permutations of financial product provisions.

Benefits of this technology:

* Automation of the configuration process saves time and resources for financial institutions.
* It reduces the risk of errors in defining and implementing financial product offerings.
* The ability to easily manage and implement different permutations of provisions allows for greater flexibility in offering customized financial products to customers.


==Original Abstract Submitted==

disclosed are methods and systems for automatically configuring financial product offerings. an example method includes: receiving, by a computer system, a graph model representing a plurality of permutations of definition provisions of a financial product; translating at least a subset of the graph model into definitions of a plurality of business objects; translating the definitions of the plurality of business objects into definitions of a plurality of services to be implemented by an offering of the financial product; receiving, via a user interface, a plurality of service configuration options; applying the plurality of service configuration options to the definitions of the plurality of services; and generating, based on the definitions of the plurality of services, service configuration data for the offering of the financial product.



[[Category:G06Q40/06]]
[[Category:G06Q40/02]]