Systems and methods for executing real-time reconciliation and notification of electronic transactions

Abstract

Systems and methods of executing a real-time electronic transaction by a real-time transaction system are disclosed. One the method includes receiving, by a reconciliation system, a transaction update associated with a transaction request from a transaction network. The reconciliation system may authenticate the transaction update by communicating with an authentication system. The reconciliation system may translate the transaction update into at least another format. The reconciliation system may transmit the transaction update to a notification handler. The reconciliation system may receive transaction data associated with the transaction update from a transaction query system. The reconciliation system may transmit the transaction update to a transaction requestor associated with the transaction data.

What is claimed is: 
     
         1 . A method of routing a transaction using a real-time transaction system, the method comprising:
 receiving, at a routing system associated with the real-time transaction system, a transaction request made by a user;   identifying, using the routing system, user preferences associated with the transaction request and characteristics associated with one or more transaction schemes;   determining, based on the identifying and using a routing decision model of the routing system, an optimal route for the transaction request; and   processing, using the routing system, the transaction request via the determined optimal route.   
     
     
         2 . The method of  claim 1 , wherein the characteristics associated with the one or more transaction schemes include at least one of: scheme execution dates, scheme decisions, scheme holidays, scheme processing time, scheme costs, and scheme amount limits. 
     
     
         3 . The method of  claim 1 , wherein the user preferences include a desired transaction date. 
     
     
         4 . The method of  claim 1 , wherein the determining comprises comparing price, speed, and capability metrics indicated in the user preferences with the price, the speed, and the capability metrics associated with the one or more transaction schemes. 
     
     
         5 . The method of  claim 1 , wherein the determining comprises determining the optimal route based on further identifying whether the transaction request is a domestic transaction or a cross-border transaction. 
     
     
         6 . The method of  claim 1 , further comprising:
 receiving, from a fraud monitoring system associated with the routing system, feedback based on a fraud profiling process conducted for the transaction request; and   adjusting the determination of the optimal route based on the feedback.   
     
     
         7 . The method of  claim 1 , further comprising:
 receiving, from a trained machine learning model associated with the routing system, feedback based on identified transaction trends; and   adjusting the determination of the optimal route based on the feedback.   
     
     
         8 . A real-time transaction system comprising:
 one or more computer readable media storing instructions for executing a real-time electronic transaction; and   one or more processors configured to execute the instructions to perform operations comprising:
 receiving, at a routing system associated with the real-time transaction system, a transaction request made by a user; 
 identifying, using the routing system, user preferences associated with the transaction request and characteristics associated with one or more transaction schemes; 
 determining, based on the identifying and using a routing decision model of the routing system, an optimal route for the transaction request; and 
 processing, using the routing system, the transaction request via the determined optimal route. 
   
     
     
         9 . The real-time transaction system of  claim 8 , wherein the characteristics associated with the one or more transaction schemes include at least one of: scheme execution dates, scheme decisions, scheme holidays, scheme processing time, scheme costs, and scheme amount limits. 
     
     
         10 . The real-time transaction system of  claim 8 , wherein the user preferences include a desired transaction date. 
     
     
         11 . The real-time transaction system of  claim 8 , wherein the determining comprises comparing price, speed, and capability metrics indicated in the user preferences with the price, the speed, and the capability metrics associated with the one or more transaction schemes. 
     
     
         12 . The real-time transaction system of  claim 8 , wherein the determining comprises determining the optimal route based on further identifying whether the transaction request is a domestic transaction or a cross-border transaction. 
     
     
         13 . The real-time transaction system of  claim 8 , further comprising:
 receiving, from a fraud monitoring system associated with the routing system, feedback based on a fraud profiling process conducted for the transaction request; and   adjusting the determination of the optimal route based on the feedback.   
     
     
         14 . The real-time transaction system of  claim 8 , further comprising:
 receiving, from a trained machine learning model associated with the routing system, feedback based on identified transaction trends; and   adjusting the determination of the optimal route based on the feedback.   
     
     
         15 . A non-transitory computer-readable medium storing instructions for executing a real-time transaction, the instructions, when executed by one or more processors, causing the one or more processors to perform operations comprising:
 receiving, at a routing system associated with the real-time transaction system, a transaction request made by a user;   identifying, using the routing system, user preferences associated with the transaction request and characteristics associated with one or more transaction schemes;   determining, based on the identifying and using a routing decision model of the routing system, an optimal route for the transaction request; and   processing, using the routing system, the transaction request via the determined optimal route.   
     
     
         16 . The non-transitory computer-readable medium of  claim 15 , wherein the characteristics associated with the one or more transaction schemes include at least one of: scheme execution dates, scheme decisions, scheme holidays, scheme processing time, scheme costs, and scheme amount limits. 
     
     
         17 . The non-transitory computer-readable medium of  claim 15 , wherein the determining comprises comparing price, speed, and capability metrics indicated in the user preferences with the price, the speed, and the capability metrics associated with the one or more transaction schemes. 
     
     
         18 . The non-transitory computer-readable medium of  claim 15 , wherein the determining comprises determining the optimal route based on further identifying whether the transaction request is a domestic transaction or a cross-border transaction. 
     
     
         19 . The non-transitory computer-readable medium of  claim 15 , further comprising:
 receiving, from a fraud monitoring system associated with the routing system, feedback based on a fraud profiling process conducted for the transaction request; and   adjusting the determination of the optimal route based on the feedback.   
     
     
         20 . The non-transitory computer-readable medium of  claim 15 , further comprising:
 receiving, from a trained machine learning model associated with the routing system, feedback based on identified transaction trends; and   adjusting the determination of the optimal route based on the feedback.