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SYSTEM FOR MODELING AND IMPLEMENTING EVENT-RESPONSIVE RESOURCE ALLOCATION STRUCTURES

  • US 20170076283A1
  • Filed: 09/11/2015
  • Published: 03/16/2017
  • Est. Priority Date: 09/11/2015
  • Status: Active Grant
First Claim
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1. A system for implementing an event-responsive resource allocation structure, the system comprising:

  • a memory device with non-transitory computer-readable program code stored thereon;

    a communication device;

    a processing device operatively coupled to the memory device and the communication device within a distributive network, wherein the processing device is configured to execute the computer-readable program code to;

    receive a request from a user to change an identification of a beneficiary of an event-responsive resource allocation structure, wherein the request is received via a transmission sent from a user device associated with the user;

    establish a first communication channel between the user device and the communication device;

    determine that the user is a holder of the event-responsive resource allocation structure and that the user is authorized to change the identification of the beneficiary of the event-responsive resource allocation structure;

    prompt the user to provide a confirmation of the identity of the user;

    receive, via the first communication channel the confirmation of the identity of the user, wherein the confirmation of the identity of the user comprises an image of a signature of the user;

    extract data from the confirmation of the identity of the user, wherein the data comprises text-recognition data;

    calculate a confidence rating based at least in part on a comparison of the image of the signature of the user and the data extracted from the confirmation of the identity of the user to a predetermined template associated with the user;

    determine that the confidence rating exceeds a predetermined confidence threshold;

    responsive to determining that the confidence rating exceeds the predetermined confidence threshold, prompt the user for information regarding the change in the identification of the beneficiary of the event-responsive resource allocation structure;

    establish a second communication channel between the communication device and a system associated with an institution associated with the event-responsive resource allocation structure; and

    transmit, via the second communication channel, instructions to change the identification of the beneficiary of the event-responsive resource allocation structure, wherein the instructions comprise the information regarding the change in the identification of the beneficiary of the event-responsive resource allocation structure and the image of the signature of the user.

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