Patent ID: 7386505

Claim:
A computer-based system for automatically determining whether a given financial transaction must comply with relevant legislation, comprising: (a) a storage subsystem, the storage subsystem comprising: (i) at least one business rule, wherein the business rule determines whether the given financial transaction must comply with relevant legislation using substantially the same phraseology used by the relevant legislation; (ii) a knowledge base, wherein a mapping for each of the plurality of business rules corresponding to one or more transaction objects representing the given financial transaction are stored in the knowledge base; and (iii) an application database, wherein the application database is comprised of: (iv) terms of the given financial transaction; and (v) other information necessary to determine whether the given financial transaction must comply with the relevant legislation; (b) a natural language processor, wherein the natural language processor generates programming code comprised of one or more programming concepts, wherein the programming code implements the at least one business rule, and wherein the programming code is stored in the storage subsystem; (c) a rule engine, wherein the rule engine: (vi) executes the programming code generated by the natural language processor; and (vii) maps each of the programming concepts to one or more functions that are associated with a transaction object representing the given financial transaction; and (d) an application server, wherein the application server: (i) instantiates the one or more transaction objects representing the given financial transaction based on the terms of the given financial transaction in the application database; (ii) executes the one or more functions that are associated with the one or more transaction objects so that the rule engine can make a determination as to whether the given transaction must comply with the relevant legislation; and (iii) outputs the determination as to whether the given financial transaction must comply with the relevant legislation.