Patent ID: 11907937
Assignee: BANK OF AMERICA CORPORATION
Field: IT methods for management (Electrical engineering)
Classification: CPC G | IPC G

Claim 0:
1. A system for digital resource exchange mitigation, the system comprising:
a memory device with computer-readable program code stored thereon;
a communication device;
a processing device operatively coupled to the memory device and the communication device, wherein the processing device is configured to execute the computer-readable program code to:
identify a digital resource exchange;
access an onboarding platform of the digital resource exchange and create an entity controlled presence on the digital resource exchange, wherein the entity controlled presence includes a digital resource account or digital resource wallet;
log data entry fields during creation of the entity controlled presence and store the required information for creating the entity controlled presence;
fund the entity controlled presence on the digital resource exchange with resources from an account associated with the entity, wherein the funding occurs for one or more available payment channels offered by the digital resource exchange, and wherein the resources comprise traditional resources transacted over ACH, wire, real-time payment, or debit channels;
reverse the funding from the entity controlled presence on the digital resource exchange to the account associated with the entity for each of the one or more available transaction channels;
extract, via an entity-based backend processor, information about the digital resource exchange based on the funding and reversing performed, the required information for creating the entity controlled presence, and one or more services or digital resources supported by the digital resource exchange;
store extracted information as one or more digital resource exchange identifiers;
receive transaction data and transaction metadata for one or more entity user resource accounts, wherein the resources accounts contain the resources;
cross reference the transaction data or transaction metadata collected via the ACH, wire, real-time payment, or debit channels with the digital resource exchange identifiers;
based on a match between the transaction data or transaction metadata and the digital resource exchange identifiers, tag the one or more entity user resource accounts or specific transactions of the one or more entity user resource accounts as transacting with the digital resource exchange; and
based on tagged entity user resource accounts or tagged specific transactions, initiate a decisioning step for transactions between the one or more entity user resource accounts and the digital resource exchange.