Description:FORM 2
THE PATENTS ACT, 1970
(39 of 1970)
&
THE PATENT RULES, 2003
COMPLETE SPECIFICATION
(See Section 10 and Rule 13)

Title of Invention:
A SYSTEM AND METHOD FOR REAL-TIME
VALUATION AUDITING FOR GOLD LOAN MANAGEMENT

APPLICANT:
EQUIFINTECH PRIVATE LIMITED

An Indian entity having address as:
Pasharwar Samaj Temple, Shop No.201, 02nd Floor, C S No.1916/14, Plot No.3,
Sakhare Complex, Near Bamul Tower, AHM MD3, Sukha Sagar Nagar, Kopargaon, Ahmednagar, Maharashtra 423601, India

The following specification particularly describes the invention and the manner in which it is to be performed.

CROSS-REFERENCE TO RELATED APPLICATIONS AND PRIORITY
[0001] The present application does not claim priority from any other application.
TECHNICAL FIELD
[0002] The presently disclosed embodiments are related, in general, to the field of gold loan management. More particularly, the presently disclosed embodiments are related to real-time valuation auditing system for gold loan management.
BACKGROUND
[0003] This section is intended to introduce the reader to various aspects of art (the relevant technical field or area of knowledge to which the invention pertains), which may be related to various aspects of the present disclosure that are described or claimed below. This discussion is believed to be helpful in providing the reader with background information to facilitate a better understanding of the various aspects of the present disclosure. Accordingly, it should be understood that these statements in this background section are to be read in this light, and not as admissions of prior art. Similarly, a problem mentioned in the background section.
[0004] In the gold loan industry, ensuring the accurate valuation of gold and maintaining the integrity of the associated transactions is a critical concern. Gold loan systems require precise and consistent valuation processes to determine the correct loan amount based on the value of the collateral. However, traditional systems often face challenges such as manual intervention, inconsistent valuations, and lack of real-time tracking and verification mechanisms. This can result in errors, discrepancies, and potential fraud, undermining trust in the system. Furthermore, as the number of valuation requests and loan transactions increases, it becomes difficult for auditors and valuers to maintain oversight without advanced tools and automation. There is a need for a solution that can streamline the valuation process, improve accuracy, ensure real-time validation, and facilitate effective auditing to prevent errors and fraudulent activities.
[0005] Conventional gold loan systems often rely on manual or semi-automated processes to handle gold valuations, which are prone to human error. These systems may lack real-time processing capabilities, making it difficult to track and manage valuations as they happen. Additionally, the manual nature of these systems increases the risk of fraudulent activities, such as the manipulation of gold valuation data or misreporting of defects in gold bags. These issues are further exacerbated when auditors are required to revalue valuations or resolve discrepancies after the fact, which can lead to delays and inefficiencies in the loan approval process. The absence of a fully automated and real-time system for managing gold valuations makes the industry vulnerable to inaccuracies, financial losses, and breaches of trust.
[0006] Existing gold loan management systems typically do not offer integrated solutions for real-time valuation calculation, bag management, and audit tracking. In many cases, manual systems are used to request valuations from valuers, input parameters, and calculate valuations based on predefined rates. However, these processes are disconnected and prone to errors, as there is no seamless mechanism for ensuring the accuracy of valuations at the point of input or providing real-time visibility to all relevant parties. Furthermore, the process of revaluation valuations by auditors often lacks precision and real-time monitoring, increasing the likelihood of discrepancies going unnoticed until later in the process. There is also a lack of automation in tracking gold bags, which can lead to inefficiencies and errors when defective bags are identified, or new bags are allocated.
[0007] Another significant problem lies in the management of access to the system for revaluation valuations. In traditional systems, auditors and valuers may not have the necessary tools to verify whether the valuation request or the corresponding valuation details are accurate and aligned with predetermined criteria. This can result in instances where incorrect or incomplete valuations are approved without proper oversight. Moreover, the ability to control and restrict access to sensitive data based on proximity to branch locations is often not implemented in existing systems, leaving the system vulnerable to unauthorized access and manipulation. The lack of automated parameters and alerts for auditors also increases the chances of discrepancies being overlooked, leading to trust issues and potential financial losses. Like auditor and valuer should not be the one person, he should not be from the same branch and its locality.
[0008] A major operational challenge in gold loan management systems is the difficulty in verifying and validating valuations in real time. Traditional systems often rely on post-event checks, which are not suitable for high-stakes environments where immediate decisions need to be made based on the accuracy of the valuation data. Moreover, there is a need for an efficient mechanism to track discrepancies during revaluation and automatically generate alerts when inconsistencies are detected. The current approaches are too slow and fail to provide the necessary automation to ensure the integrity of the system at all stages of the loan management process. These limitations hinder the ability to maintain the necessary accuracy, security, and transparency for financial transactions, thereby affecting the trustworthiness and reliability of the gold loan system.
[0009] Furthermore, traditional gold loan management systems often suffer from scalability issues. As the number of loan transactions and valuation requests increases, the system's ability to manage and process these requests effectively becomes strained. This results in bottlenecks, delays, and missed opportunities for detecting discrepancies. The lack of a unified, automated platform capable of handling increasing volumes of transactions and valuation requests in real time makes it difficult for the system to scale without compromising on performance or security.
[0010] In view of the above, there is a need for an improved gold loan management system that addresses these challenges. The solution must provide real-time gold valuation, an automated mechanism for managing defective gold bags, and a robust system for validating and revaluation valuations during the loan approval process. Furthermore, it should offer real-time auditing capabilities that automatically flag discrepancies and restrict access to sensitive data based on location. Such a solution would enhance the accuracy, security, and efficiency of the gold loan management process, mitigating the risks associated with manual errors, fraud, and unauthorized access while ensuring that the system can scale effectively to handle increased transaction volumes.
[0011] In view of the above, addressing the aforementioned technical challenges requires an improved method for event management.
[0012] Further limitations and disadvantages of conventional and traditional approaches will become apparent to one of skill in the art, through comparison of described systems with some aspects of the present disclosure, as set forth in the remainder of the present application and with reference to the drawings.
SUMMARY
[0013] This summary is provided to introduce concepts related to a method and a system for valuation auditing for gold loan management and the concepts are further described below in the detailed description. This summary is not intended to identify essential features of the claimed subject matter nor is it intended for use in determining or limiting the scope of the claimed subject matter.
[0014] According to embodiments illustrated herein, a valuation auditing system for gold loan management is disclosed. Further, the system may comprise a memory and a processor. Further, the processor may be configured to execute programmed instructions stored in the memory for performing the following operations. Further, the processor may be configured to facilitate a valuation request module that allows an internal user to assign a valuer for gold valuation, and a request is sent to the valuer and is visible in an interface. Further, the processor may be configured to implement a gold valuation module that provides the interface for the valuer to input one or more parameters, with the gold valuation being automatically calculated at a predefined rate fixed at an admin level. Further, the gold valuation module may receive the gold valuation from the valuer, generate a multi-dimensional code for validation, and send the valuation details to the internal user. Furthermore, the processor may be configured to execute a bag management module that allows the system to request one or more gold bags and allocate a predefined series number. Additionally, the processor may be configured to operate an auditor request and assignment module that generates a request for revaluation of gold based on a revaluation parameter and automatically assigns an auditor for the revaluation based on an auditor assignment parameter. Moreover, the processor may be configured to utilize a geotagging module that tracks the location of the auditor and a branch, one or more users can track the location of the one or more auditors, one or more branches and the one or more valuers. Lastly, the processor may be configured to implement a comparison module that allows the system to compare original valuation details received from the valuer during the auditor revaluation, an automated report is generated highlighting any variations between the valuation and the revaluation.
[0015] According to embodiments illustrated herein, a method for valuation auditing for gold loan management is disclosed. The method may be implemented by an electronic device including one or more processors and a memory communicatively coupled to the processor, and the memory is configured to store processor executable programmed instructions. Further, the method may comprise a step of assigning, via a processor, a valuer for gold valuation from an internal user, and the request is sent to the valuer and is visible in an interface. Further, the method may comprise a step of providing, via the processor, the interface for the valuer to input one or more parameters related to the gold valuation, and the gold valuation is automatically calculated at a predefined rate fixed at an admin level, and receiving the gold valuation from the valuer, generating a multi-dimensional code for validation, and sending the valuation details to the internal user. Additionally, the method may comprise a step of requesting, via the processor, one or more gold bags through a bag management module and allocating a predefined series number to each requested gold bag. Furthermore, the method may comprise a step of generating, via the processor, a request for revaluation of gold based on a revaluation parameter, and automatically assigning an auditor for the revaluation based on an auditor assignment parameter. Moreover, the method may comprise a step of tracking, via the processor, the location of the auditor and the branch using a geotagging module, one or more users can track the location of the one or more auditors, one or more branches and the one or more valuers. Lastly, the method may comprise a step of comparing, via the processor, original valuation details received from the valuer with the details during the auditor's revaluation, and an automated report is generated highlighting any variations between the valuation and the revaluation.
[0016] According to embodiments illustrated herein, a non-transitory computer-readable storage medium for valuation auditing for gold loan management is disclosed. The non-transitory computer-readable storage medium having stored thereon, a set of computer-executable instructions causing a computer comprising one or more processors to perform steps. The steps may comprise assigning a valuer for gold valuation from an internal user, and the request is sent to the valuer and is visible in an interface. Further, the steps may comprise providing the interface for the valuer to input one or more parameters related to the gold valuation, and the gold valuation is automatically calculated at a predefined rate fixed at an admin level, receiving the gold valuation from the valuer, generating a multi-dimensional code for validation, and sending the valuation details to the internal user. Additionally, the steps may comprise requesting one or more gold bags through a bag management module and allocating a predefined series number to each requested gold bag. Furthermore, the steps may comprise generating a request for revaluation of gold based on a revaluation parameter, and automatically assigning an auditor for the revaluation based on an auditor assignment parameter. Moreover, the steps may comprise tracking the location of the auditor and the branch using a geotagging module, one or more users can track the location of the one or more auditors, one or more branches and the one or more valuers. Lastly, the steps may comprise comparing original valuation details received from the valuer with the details during the auditor's revaluation, and an automated report is generated highlighting any variations between the valuation and the revaluation.
[0017] The foregoing summary is illustrative only and is not intended to be in any way limiting. In addition to the illustrative aspects, embodiments, and features described above, further aspects, embodiments, and features will become apparent by reference to the drawings and the following detailed description.
BRIEF DESCRIPTION OF DRAWINGS
[0018] The accompanying drawings illustrate the various embodiments of systems, methods, and other aspects of the disclosure. Any person with ordinary skills in art will appreciate that the illustrated element boundaries (e.g., boxes, groups of boxes, or other shapes) in the figures represent one example of the boundaries. In some examples, one element may be designed as multiple elements, or multiple elements may be designed as one element. In some examples, an element shown as an internal component of one element may be implemented as an external component in another, and vice versa. Further, the elements may not be drawn to scale.
[0019] Various embodiments will hereinafter be described in accordance with the appended drawings, which are provided to illustrate and not to limit the scope in any manner, wherein similar designations denote similar elements, and in which:
[0020] FIG. 1 is a block diagram that illustrates a system (100) for valuation auditing in gold loan management, in accordance with an embodiment of present subject matter.
[0021] FIG. 2 is a block diagram that illustrates various components of an application server (104) configured for valuation auditing in gold loan management, in accordance with an embodiment of the present subject matter.
[0022] FIG. 3 is a flowchart that illustrates a method (300) for valuation auditing in gold loan management, in accordance with an embodiment of the present subject matter.
[0023] FIG. 4 illustrates a block diagram (400) of an exemplary computer system for implementing embodiments consistent with the present subject matter.
DETAILED DESCRIPTION
[0024] The present disclosure may be best understood with reference to the detailed figures and description set forth herein. Various embodiments are discussed below with reference to the figures. However, those skilled in the art will readily appreciate that the detailed descriptions given herein with respect to the figures are simply for explanatory purposes as the methods and systems may extend beyond the described embodiments. For example, the teachings presented, and the needs of a particular application may yield multiple alternative and suitable approaches to implement the functionality of any detail described herein. Therefore, any approach may extend beyond the particular implementation choices in the following embodiments described and shown.
[0025] References to “one embodiment,” “at least one embodiment,” “an embodiment,” “one example,” “an example,” “for example,” and so on indicate that the embodiment(s) or example(s) may include a particular feature, structure, characteristic, property, element, or limitation but that not every embodiment or example necessarily includes that particular feature, structure, characteristic, property, element, or limitation. Further, repeated use of the phrase “in an embodiment” does not necessarily refer to the same embodiment. The terms “comprise”, “comprising”, “include(s)”, or any other variations thereof, are intended to cover a non-exclusive inclusion, such that a setup, system or method that comprises a list of components or steps does not include only those components or steps but may include other components or steps not expressly listed or inherent to such setup or system or method. In other words, one or more elements in a system or apparatus preceded by “comprises… a” does not, without more constraints, preclude the existence of other elements or additional elements in the system or apparatus.
[0026] The objective of the present disclosure is to provide an efficient and automated system for gold loan management and valuation auditing, enhancing the accuracy and speed of gold valuation processes.
[0027] Another objective of the present disclosure is to improve the integrity of the gold loan management system by implementing real-time gold valuation based on predefined parameters set at an admin level, ensuring consistency and reliability in valuation calculations.
[0028] Yet another objective of the present disclosure is to streamline the management of gold bags by automatically requesting replacements for defective bags and allocating new bags according to a predefined series, ensuring smooth operations and minimal manual intervention.
[0029] Yet another objective of the present disclosure is to enhance the security and traceability of the gold loan process by generating a three-dimensional code for valuation validation and sending the valuation details to the internal user for further processing.
[0030] Yet another objective of the present disclosure is to restrict access for revaluation accounts based on proximity to branch locations and auditors, improving the security and accountability of the system.
[0031] Yet another objective of the present disclosure is to provide an efficient comparison module for auditors, enabling the detection of discrepancies between original and revalued valuation details, with alerts generated for any detected inconsistencies.
[0032] Yet another objective of the present disclosure is to automate and optimize the auditing process, reducing manual efforts and enhancing the speed and accuracy of gold loan management.
[0033] Yet another objective of the present disclosure is to ensure the scalability of the gold loan management system, allowing it to handle increasing volumes of transactions and valuations without compromising on performance or accuracy.
[0034] Yet another objective of the present disclosure is to provide an intuitive and user-friendly interface that simplifies the gold valuation process for valuers, enabling them to input required parameters efficiently and accurately.

[0035] Yet another objective of the present disclosure is to ensure timely processing of gold loans by automating the gold valuation, bag management, and submission steps, ultimately improving the overall efficiency and reducing delays in the loan approval process.
[0036] Yet another objective of the present disclosure is to maintain high standards of data integrity and security by ensuring that all valuation and revaluation activities are securely logged and validated with minimal risk of fraud or manipulation.
[0037] FIG. 1 is a block diagram that illustrates a system (100) for valuation auditing for gold loan management, in accordance with an embodiment of present subject matter. The system (100) typically includes a database server (102), an application server (104), a communication network (106), and one or more portable devices (108). The database server (102), the application server (104), and the one or more portable devices (108) are typically communicatively coupled with each other via the communication network (106). In an embodiment, the application server (104) may communicate with the database server (102), and the one or more portable devices (108) using one or more protocols such as, but not limited to, Hypertext Transfer Protocol (HTTP), Transmission Control Protocol/Internet Protocol (TCP/IP)/User Datagram Protocol (UDP), Wireless Application Protocol (WAP), RF mesh, Bluetooth Low Energy (BLE), and the like, to communicate with one another.
[0038] In one embodiment, the database server (102) may refer to a computing device that may be configured to store one or more user profile data such as internal user, valuer, auditor, admin, society, storage branches, one or more parameters for valuation of gold, predefined series of gold bags, geotag identifiers for auditor and bags or branch location, process of valuation auditing for gold loan management and other intermediate processing data.
[0039] In an embodiment, the database server (102) may include a special purpose operating system specifically configured to perform one or more database operations on the stored content. Examples of database operations may include, but are not limited to, Select, Insert, Update, and Delete. In an embodiment, the database server (102) may include hardware that may be configured to perform one or more predetermined operations. In an embodiment, the database server (102) may be realized through various technologies such as, but not limited to, Microsoft® SQL Server, Oracle®, IBM DB2®, Microsoft Access®, PostgreSQL®, MySQL®, SQLite®, distributed database technology and the like. In an embodiment, the database server (102) may be configured to utilize the application server (104) for implementing the system for valuation auditing for gold loan management. In an embodiment, the database server (102) is configured to track all user data.
[0040] A person with ordinary skills in art will understand that the scope of the disclosure is not limited to the database server (102) as a separate entity. In an embodiment, the functionalities of the database server (102) can be integrated into the application server (104) or into the one or more portable devices (108).
[0041] In an embodiment, the application server (104) may refer to a computing device or a software framework hosting the application or a software service. In an embodiment, the application server (104) may be implemented to execute procedures such as, but not limited to, programs, routines, or scripts stored in one or more memories for supporting the hosted application or the software service. In an embodiment, the hosted application or the software service may be configured to perform one or more predetermined operations. The application server (104) may be realized through various types of application servers such as, but are not limited to, a Java application server, a .NET framework application server, a Base4 application server, a PHP framework application server, or any other application server framework.
[0042] In an embodiment, the application server (104) may be configured to utilize the database server (102) and the one or more portable device (108), in conjunction, system for valuation auditing for gold loan management. In an implementation, the application server (104) corresponds to an infrastructure for implementing a system for valuation auditing for gold loan management.
[0043] In an embodiment, the application server (104) may be configured to assign in real time a valuer for gold valuation from an internal user. In an embodiment, the request is sent to the valuer and is visible in an interface.
[0044] In an embodiment, the application server (104) may be configured to facilitate the gold valuation and submission of values. In an embodiment, the interface may allow the valuer to input one or more parameters related to the gold valuation, with the valuation automatically calculated at a predefined rate fixed at an admin level. In an embodiment, the gold valuation from the valuer is received, a multi-dimensional code is generated for validation, and the valuation details are sent to the internal user.
[0045] In an embodiment, the application server (104) may be configured to manage gold bags. In an embodiment, one or more gold bags are requested through a bag management module, with a predefined series number allocated to each requested gold bag.
[0046] In an embodiment, the application server (104) may be configured to generate a revaluation of the gold. In an embodiment, a request for revaluation is generated based on a revaluation parameter, and an auditor is automatically assigned for the revaluation based on an auditor assignment parameter.
[0047] In an embodiment, the application server (104) may be configured to restrict access to accounts for revaluation based on proximity to one or more branch locations and the auditor. In an embodiment, the location of the valuer, auditor, and branch is tracked using a geotagging module by the one or more users.
[0048] In an embodiment, the application server (104) may be configured to compare original valuation details during auditor revaluation and generate an automated report highlighting any variations between the valuation and the revaluation.
[0049] In an embodiment, the communication network (106) may correspond to a communication medium through which the application server (104), the database server (102), and the one or more portable device (108) may communicate with each other. Such a communication may be performed in accordance with various wired and wireless communication protocols. Examples of such wired and wireless communication protocols include, but are not limited to, Transmission Control Protocol and Internet Protocol (TCP/IP), User Datagram Protocol (UDP), Hypertext Transfer Protocol (HTTP), Wireless Application Protocol (WAP), File Transfer Protocol (FTP), ZigBee, EDGE, infrared IR), IEEE 802.11, 802.16, 2G, 3G, 4G, 5G, 6G, 7G cellular communication protocols, and/or Bluetooth (BT) communication protocols. The communication network (106) may either be a dedicated network or a shared network. Further, the communication network (106) may include a variety of network devices, including routers, bridges, servers, computing devices, storage devices, and the like. The communication network (106) may include, but is not limited to, the Internet, intranet, a cloud network, a Wireless Fidelity (Wi-Fi) network, a Wireless Local Area Network (WLAN), a Local Area Network (LAN), a cable network, the wireless network, a telephone network (e.g., Analog, Digital, POTS, PSTN, ISDN, xDSL), a telephone line (POTS), a Metropolitan Area Network (MAN), an electronic positioning network, an X.25 network, an optical network (e.g., PON), a satellite network (e.g., VSAT), a packet-switched network, a circuit-switched network, a public network, a private network, and/or other wired or wireless communications network configured to carry data.
[0050] In an embodiment, the one or more portable devices (108) may refer to a computing device used by a user. The one or more portable devices (108) may comprise of one or more processors and one or more memory. The one or more memories may include computer readable code that may be executable by one or more processors to perform predetermined operations. In an embodiment, the one or more portable devices (108) may present a web user interface for the valuation auditing of gold using the application server (104). Example web user interfaces presented on the one or more portable devices (108) to display information about the data. Examples of the one or more portable devices (108) may include, but are not limited to, a personal computer, a laptop, a computer desktop, a personal digital assistant (PDA), a mobile device, a tablet, or any other computing device. In an embodiment of the present disclosure, the application may be installed in the one or more portable devices (108), for which the one or more requests are made by the internal user to the valuer.
[0051] The system (100) can be implemented using hardware, software, or a combination of both, which includes using where suitable, one or more computer programs, mobile applications, or “apps” by deploying either on-premises over the corresponding computing terminals or virtually over cloud infrastructure. The system (100) may include various micro-services or groups of independent computer programs which can act independently in collaboration with other micro-services. The system (100) may also interact with a third-party or external computer system. Internally, the system (100) may be the central processor of all requests for transactions by the various actors or users of the system. A critical attribute of the system (100) is that it can concurrently and instantly perform the valuation and auditing of gold in collaboration with other systems.
[0052] In one embodiment, the system (100) is configured to receive real-time valuation requests from the internal user, which are sent to one or more valuers and are visible in the valuer’s login. The system (100) facilitates gold valuation by providing a smart interface for inputting parameters, with the valuation being automatically or physically calculated at a predefined rate fixed at the admin level. Further, the predefined fixed rate corresponds to the real-time market price of the gold. Additionally, the system (100) manages one or more gold bags, allowing it to request replacements for any defective bags identified, with new bags allocated automatically in a predefined series. Upon submitting the valuation, the system (100) generates a three-dimensional code for validation and sends the valuation details to the internal user for further processing. The system (100) also restricts access to accounts for revaluation based on the identity of the auditor, tracking revaluation parameters for revaluation. Furthermore, the system (100) compares original valuation details during auditor revaluation and generates alerts and automated reports for any discrepancies detected.
[0053] FIG. 2 illustrates a block diagram illustrating various components of the application server (104) configured for performing stepwise valuation auditing for gold loan management, in accordance with an embodiment of the present subject matter. Further, the FIG. 2 is explained in conjunction with the FIG. 1. Here the application server (104) preferably includes a processor (202), a memory (204), a transceiver (206), an Input/Output (208), a valuation request module (210), a gold valuation module (212), a bag management module (214), an auditor request and assignment module (216), a geotagging module (218), and a comparison module (220). The processor (202) is further preferably communicatively coupled to the memory (204), the transceiver (206), the Input/Output unit (208), the valuation request module (210), the gold valuation module (212), the bag management module (214), the auditor request and assignment module (216), the geotagging module (218), and the comparison module (220), while the transceiver (206) is preferably communicatively coupled to the communication network (106).
[0054] The processor (202) comprises suitable logic, circuitry, interfaces, and/or code that may be configured to execute a set of instructions stored in the memory (204), and may be implemented based on several processor technologies known in the art. The processor (202) works in coordination with the transceiver (206), the Input/Output unit (208), the valuation request module (210), the gold valuation module (212), the bag management module (214), the auditor request and assignment module (216), the geotagging module (218), and the comparison module (220). Examples of the processor (202) include, but not limited to, standard microprocessor, microcontroller, central processing unit (CPU), an X86-based processor, a Reduced Instruction Set Computing (RISC) processor, an Application- Specific Integrated Circuit (ASIC) processor, and a Complex Instruction Set Computing (CISC) processor, distributed or cloud processing unit, state machines, logic circuitries, and/or any devices that manipulate signals based on operational instructions and/or other processing logic that accommodates the requirements of the present invention.
[0055] The memory (204) comprises suitable logic, circuitry, interfaces, and/or code that may be configured to store the set of instructions, which are executed by the processor (202). Preferably, the memory (204) is configured to store one or more programs, routines, or scripts that are executed in coordination with the processor (202). Additionally, the memory (204) may include any computer-readable medium or computer program product known in the art including, for example, volatile memory, such as static random-access memory (SRAM) and dynamic random-access memory (DRAM), and/or non-volatile memory, such as read only memory (ROM), erasable programmable ROM, a Hard Disk Drive (HDD), flash memories, Secure Digital (SD) card, Solid State Disks (SSD), optical disks, magnetic tapes, memory cards, virtual memory and distributed cloud storage. The memory (204) may be removable, non-removable, or a combination thereof. Further, the memory (204) may include routines, programs, objects, components, data structures, etc., which perform particular tasks or implement particular abstract data types. The memory (204) may include programs or coded instructions that supplement applications and functions of the system (100). In one embodiment, the memory (204), amongst other things, serves as a repository for storing data processed, received, and generated by one or more of the programs or the coded instructions. In yet another embodiment, the memory (204) may be managed under a federated structure that enables adaptability and responsiveness of the application server (104).
[0056] The transceiver (206) comprises suitable logic, circuitry, interfaces, and/or code that may be configured to receive, process or transmit information, data or signals, which are stored by the memory (204) and executed by the processor (202). The transceiver (206) is preferably configured to receive, process or transmit, one or more programs, routines, or scripts that are executed in coordination with the processor (202). The transceiver (206) is preferably communicatively coupled to the communication network (106) of the system (100) for communicating all the information, data, signal, programs, routines or scripts through the network.
[0057] The transceiver (206) may implement one or more known technologies to support wired or wireless communication with the communication network (106). In an embodiment, the transceiver (206) may include, but is not limited to, an antenna, a radio frequency (RF) transceiver, one or more amplifiers, a tuner, one or more oscillators, a digital signal processor, a Universal Serial Bus (USB) device, a coder-decoder (CODEC) chipset, a subscriber identity module (SIM) card, and/or a local buffer. Also, the transceiver (206) may communicate via wireless communication with networks, such as the Internet, an Intranet and/or a wireless network, such as a cellular telephone network, a wireless local area network (LAN) and/or a metropolitan area network (MAN). Accordingly, the wireless communication may use any of a plurality of communication standards, protocols and technologies, such as: Global System for Mobile Communications (GSM), Enhanced Data GSM Environment (EDGE), wideband code division multiple access (W-CDMA), code division multiple access (CDMA), time division multiple access (TDMA), Bluetooth, Wireless Fidelity (Wi-Fi) (e.g., IEEE 802.11a, IEEE 802.11b, IEEE 802.11g and/or IEEE 802.11n), voice over Internet Protocol (VoIP), Wi-MAX, a protocol for email, instant messaging, and/or Short Message Service (SMS).
[0058] The input/output (I/O) unit (208) comprises suitable logic, circuitry, interfaces, and/or code that may be configured to receive or present information. The input/output unit (208) comprises various input and output devices that are configured to communicate with the processor (202). Examples of the input devices include, but are not limited to, a keyboard, a mouse, a joystick, a touch screen, a microphone, a camera, CCTV camera, static camera and/or a docking station. Examples of the output devices include, but are not limited to, a display screen and/or a speaker. The I/O unit (208) may include a variety of software and hardware interfaces, for example, a web interface, a graphical user interface, and the like. The I/O unit (208) may allow the system (100) to interact with the user directly or through the portable devices (108). Further, the I/O unit (208) may enable the system (100) to communicate with other computing devices, such as web servers and external data servers (not shown). The I/O unit (208) can facilitate multiple communications within a wide variety of networks and protocol types, including wired networks, for example, LAN, cable, etc., and wireless networks, such as WLAN, cellular, or satellite. The I/O unit (208) may include one or more ports for connecting a number of devices to one another or to another server. In one embodiment, the I/O unit (208) allows the application server (104) to be logically coupled to other portable devices (108), some of which may be built in. Illustrative components include tablets, mobile phones, desktop computers, wireless devices, etc.
[0059] In one embodiment, the valuation request module (210) of the system (100) is disclosed. The valuation request module (210) may be configured to allow the internal user, typically the branch operator or branch of the gold storage bank, to assign a valuer for gold valuation. The internal user may initiate one or more valuation requests by selecting a valuer and associating them with a customer’s gold for valuation. Once the request is generated, it is sent to the assigned valuer and made visible in the valuer's login interface. This visibility ensures that the valuer is promptly notified of the task and can proceed accordingly. Further, the application may be installed on the one or more portable devices (108) such as user device, a personal computer, a laptop, a computer desktop, a personal digital assistant (PDA), a mobile device, a tablet, or any other computing device, or a combination thereof.
[0060] Further, the system may enable the tracking and management of branches and gold bags associated with the valuation requests. Branches may be allocated to specific valuers, and the valuer can track and locate the branches as well as the bags of gold using one or more unique identifiers. These identifiers ensure that the gold being valued is accurately associated with the correct branch and customer, which is essential for the transparency and integrity of the gold loan process. Further, the internal user typically represents the maker, checker, manager, branch operator, responsible for managing the gold loan process, which includes the storage and valuation of gold as collateral for a loan. The valuer, on the other hand, may be responsible for estimating the value of the gold, which is crucial for determining the loan amount. The gold loan is essentially a form of secured loan where the gold serves as collateral, and its valuation determines the maximum loan amount that can be granted to the borrower.
[0061] Further, the system (100) may include a user interface (UI) that may display key information to both the internal user and the valuer. The dashboard within the UI may show the status of the gold valuation request, the location of the relevant branches, and the status of gold bags being tracked. This user-friendly interface ensures that the process is transparent, efficient, and easy to manage for all parties involved. The primary goal of the valuation request module (210) is to automate and streamline the process of assigning valuers and tracking the gold's location and valuation status, reducing manual intervention and errors while improving the overall speed and accuracy of gold loan processing. The system (100) ensures that valuers can quickly access all the information they need and makes it easier for branch operators to track the progress of valuation requests, ultimately leading to a more efficient and reliable gold loan management system.
[0062] In another embodiment, the gold valuation module (212) of the system (100) is disclosed. The gold valuation module (212) may facilitate the gold valuation process by providing a smart interface that allows input of one or more parameters relevant to the valuation of gold. The one or more parameters may correspond to the gross weight of the gold, deductions for stones, the carat of the gold, or a combination thereof. The system may be designed to automatically calculate the valuation based on a predefined rate of the gold set by an administrator. This automated process ensures that the gold valuation is consistent and accurately reflects the current market rates as determined by the admin. Additionally, the gold valuation module (212) may enable the system to capture images of the gold ornaments and bags, which are essential for record-keeping and verifying the condition of the gold. The system may be integrated with advanced image processing capabilities to ensure that the images captured are of high quality and clarity. This integration ensures that the images meet the required standards for documentation and further processing, such as auditing or compliance checks. The image processing capabilities improve the accuracy of the captured images by enhancing details like clarity, focus, and lighting, ensuring that all relevant features of the gold items and bags are visible while the valuation. The valuation of the gold bag may be physically by the valuer and/or automatically by the help of the system (100).
[0063] The system further facilitates valuers to capture images directly, ensuring that all relevant images are securely associated with the respective valuation records. This process enhances the overall transparency and traceability of the valuation, as all visual records are linked to the specific valuation request and can be reviewed at any time for verification or quality control. The primary goal of the gold valuation module (212) is to automate the valuation process and streamline the image capture and processing workflows, reducing manual errors and improving operational efficiency. By enabling real-time calculation based on predefined rates and capturing high-quality images for record-keeping, the system ensures the integrity and accuracy of the entire gold loan management process. Furthermore, the integration of image processing capabilities helps prevent fraudulent activities by providing clear visual evidence of the condition of the gold at the time of valuation, which is crucial for both valuation accuracy and security in the gold loan process.
[0064] In another embodiment, the gold valuation module (212) of the system (100) is disclosed. Further, the system (100) may facilitate the submission of the gold valuation by generating a unique multi-dimensional code, such as a QR code, etc, for validation. This multi-dimensional code may be associated with the specific valuation details and is used to authenticate the valuation during the subsequent processing stages. Further, the system (100) ensures that the generated code encapsulates key information such as the valuation, the status of the gold bags, and other relevant details, making it easy to track and verify. The code is then transmitted securely via a communication channel to the internal user, who is responsible for further processing. The system (100) is designed to maintain data integrity and confidentiality by utilizing a secure communication channel for the transmission of valuation details. This secure channel may ensure that the valuation data is protected against unauthorized access or tampering during transmission. The use of a multi-dimensional code, such as a QR code, barcode, dot code, stack code, etc, and/or combination thereof, simplifies the process of validation while enhancing the security and traceability of each transaction within the gold loan management system.
[0065] In another embodiment, the bag management module (214) of the system (100) is disclosed. The bag management module (214) may be designed to monitor and manage the gold storage bags used for securing gold ornaments that are associated with borrowers in a gold loan. When a defective gold bag is identified, the system automatically requests new gold bags and allocates them using a predefined series of numbers, ensuring that all new bags are properly tracked and accounted for. Further, the bag management module (214) may include a tracking feature that allows the system to monitor the status of the allocated bags, ensuring that each bag’s movement and condition are documented. Further, the tracking capability is vital for preventing the loss or misplacement of the gold, ensuring that all gold ornaments are securely stored and readily accessible when needed. Furthermore, by automating the allocation and tracking of storage bags, the system significantly reduces manual errors and inefficiencies in managing the inventory of gold ornaments, improving both the security and transparency of the gold loan process.
[0066] In one embodiment, the auditor request and assignment module (216) may enable the system to automate the scheduling of audits based on revaluation parameter. For example, after the number of days from loan issuance such as but not limited to after 30 days from loan issuance or number of bags processed by the internal user at one or more branch locations such as but not limited to once 100 gold bags have been processed, whichever comes first. Further, revaluation parameter to automate the scheduling of audits corresponds to the expiry of the set period of time, and/or the number of gold bags exceeds more than the set limit. This feature ensures that the auditors' access is not only geographically restricted but also time-based, ensuring periodic revaluation of loans and gold bags as per predefined criteria. The system automatically triggers alerts to the auditors when it is time for a revalue, and these alerts are based auditor assignment parameter. Further, the auditor assignment parameter corresponds to the valuer being different from the auditor, auditor should be of different region from the assigned branch, the auditor should not be the employee of the assigned branch, and/or combination thereof. Furthermore, by utilizing GPS and geotagging technologies, the system enhances the efficiency and security of the auditing process, ensuring timely and accurate revalue actions. The integration of location data and auditor assignment parameter ensures that the revaluation of gold loans is performed in a manner that is both systematic and compliant with internal policies.
[0067] In another embodiment, the geotagging module (218) of the system (100) is disclosed. The geotagging module (218) ensures that one or more users can track the location of the one or more auditors, one or more branches and the one or more valuers. Further, the geotagging module (218) uses GPS data to restrict access to accounts for revaluation based on the proximity of auditors to branch locations. The geotagging module (218) ensures one or more users can track the location of the one or more auditors, one or more branches and the one or more valuers. The module ensures that an auditor can only access accounts for revaluation if they are within a predefined radius of the branch where the gold is stored. This functionality prevents unauthorized access by limiting the auditor's ability to perform revalue to specific geographic locations. Further, the auditor should not be the valuer of the same asset, he must not be from the same region as well as same branch. The geotagging of branch locations is performed at the admin level, ensuring that auditors are only allowed access to the accounts of branches they are physically near. In an exemplary embodiment, the system tracks the location of the auditor in real-time, using geotag identifiers associated with the branch to alert auditors when they are within proximity to a branch requiring revaluation. This system optimizes security and ensures that gold loan audits are conducted by authorized personnel in the correct location, reducing the risk of fraud or errors in the revaluation process.
[0068] In another embodiment, the comparison module (220) of the system (100) is disclosed. The comparison module (220) may allow auditors to compare the original gold valuation details with the revalued valuation during the auditing process. Further, the module automatically retrieves the original valuation data filled out by the valuer and presents it to the auditor for comparison, ensuring that the revalue is accurate and comprehensive. Further, the comparison may be performed either automatically or manually by the auditor, depending on the system settings. The system facilitates this by displaying all the relevant details, such as the weight, purity, and carat of the gold, as entered by the original valuer. This information is also made visible to the admin for oversight, allowing for transparency and accountability in the auditing process. Any discrepancies between the original and revalued valuations are flagged by the system, and the auditor is alerted immediately, ensuring that potential issues are identified and addressed in a timely manner.
[0069] Further, the comparison module (220) may generate automated reports highlighting any discrepancies detected between the original and revalued valuations. Further, the reports may be sent to the admin for review and further action. Further, the system's automated reporting capability significantly streamlines the auditing process, reducing manual effort and increasing the accuracy of the comparison. Additionally, the reports may provide valuable insights for the admin, who can review and update the loan terms, such as adjusting the interest rates, based on the findings from the revaluation. Furthermore, by automating the comparison and reporting process, the system ensures that discrepancies are addressed promptly, and the entire valuation auditing process remains efficient, accurate, and transparent.
[0070] In an exemplary embodiment, if the value of the gold is above the standard limit set by the admin there might be multiple valuations by multiple valuers and multiple revaluations by the multiple auditors.
[0071] In one non-limiting embodiment, the dashboard may be configured to provide a user impact analysis to indicate which users or systems are affected by the one or more valuation and auditing. Further, a log of actions may be taken in response to each detected discrepancies by, detailing notifications sent, changes made to access controls, and any escalations to higher authorities. A person skilled in the art will understand that the scope of the disclosure should not be limited to gold loan management domain and using the aforementioned techniques. Further, the examples provided in supra are for illustrative purposes and should not be construed to limit the scope of the disclosure.
[0072] Referring to Fig. 3, a flowchart that illustrates a method (300) for valuation auditing for gold loan management, in accordance with at least one embodiment of the present subject matter. The method (300) may be implemented by the electronic device (108) including the one or more processors (202) and the memory (204) communicatively coupled to the processor (202) and the memory (204) is configured to store processor-executable programmed instructions, caused the processor to perform the following steps.
[0073] At step (302), the processor (202) is configured to assigning in real time a valuer for gold valuation from the internal user. Further the request is sent to the valuer and is visible in an interface.
[0074] At step (304), the processor (202) is configured to facilitating the gold valuation and submission of values. Further, providing the interface for the valuer to input one or more parameters related to the gold valuation, wherein the gold valuation is automatically calculated at a predefined rate fixed at an admin level, wherein receiving the gold valuation from the valuer, generating a multi-dimensional code for validation, and sending the valuation details to the internal user.
[0075] At step (306), the processor (202) is configured to managing gold bags. Further, requesting one or more gold bags through a bag management module and allocating a predefined series number to each requested gold bag.
[0076] At step (308), the processor (202) is configured to generate revaluation of the gold. Further, generating a request for revaluation of gold based on a revaluation parameter, and automatically assigning an auditor for the revaluation based on an auditor assignment parameter.
[0077] At step (310), the processor (202) is configured to restricting access to accounts for revaluation based on proximity to one or more branch locations and the one or more auditor. Further, tracking the location of the valuer, the auditor and the branch using a geotagging module by the one or more users.
[0078] At step (312), the processor (202) is configured to comparing original valuation details during auditor revaluation and generating an automated report highlighting any variations between the valuation and the revaluation.
[0079] Let us delve into a detailed working example of the present disclosure.
[0080] Example 01: Gold Loan Valuation and Revaluation Process.
[0081] X, a branch operator at a gold loan institution, accesses the disclosed system to initiate a valuation request for a customer’s gold. X, acting as the internal user, logs into the system and selects a valuer to assign to the loan valuation. The system's valuation request module (210) automatically sends the request to the chosen valuer and makes the request visible in the valuer’s login. X also inputs the required customer and gold details into the system, such as weight, carat, and deductions for stones, using the smart interface provided by the gold valuation module (212).
[0082] After the completion of the number of days from loan issuance (for example 30 days), as part of the institution’s policy, the account undergoes a periodic revaluation. Y, an auditor, receives an alert via the geotagging module (218) for the revaluation when she satisfies the auditor assignment parameters. Y should not be from the same region as the region of the branch, she should not be the valuer of the same asset she is auditing, and she should not be the employee of the assigned branch. The module ensures that only auditor when reached near the branch can access accounts for revaluation. Further, the users can trach the location information of both the auditor and the branch by using the module. Y arrives at the branch, and the geotagging module verifies her location using GPS data before granting access to the loan account for revalue.
[0083] Using the comparison module (220), Y compares the original valuation details from the gold valuation module (212) with the revalued gold details. The system alerts Y if any discrepancies are detected. In this case, Y identifies a minor discrepancy between the original weight and the actual weight of the gold ornaments. The system generates an automated report, which is sent to the admin for review. The report includes all the variations and provides necessary documentation for any required updates to the loan terms, such as an interest rate adjustment. This ensures that the gold loan management system remains accurate and compliant with the institution’s policies, while providing an efficient and secure audit trail for revaluation.
[0084] Example 02: Gold Bag Management and Revaluation Workflow.
[0085] A, the branch operator at a gold loan institution, notices that one of the storage bags containing gold ornaments appears to be defective. Using the bag management module (214), David requests a replacement for the defective bag. The system automatically allocates a new bag with a predefined series number, ensuring that the bag can be tracked easily. The new gold bag is issued and tagged with a geotag identifier, which allows for easy tracking of the gold ornaments stored within it. A ensures that the gold ornaments are securely transferred to the new bag, and the updated details are stored in the system’s memory (204).
[0086] At the same time, B, the auditor responsible for revaluation the loan accounts, is notified by the system. The geotagging module (218) triggers an alert based on the 100 bags threshold for revaluation. Since B is in proximity to the branch and satisfies the auditor assignment parameters, the system grants her access to revalue the gold ornaments associated with the newly allocated bag. The comparison module (220) automatically retrieves the original valuation details, which B uses to perform a detailed revalue of the ornaments' weight, purity, and carat. As part of the revalue, B performs an acid test on the gold to verify its purity. The comparison module flags any discrepancies between the initial valuation and the results of Sarah’s revalue, generating an automated discrepancy report.
[0087] The discrepancy report highlights that the carat of the gold ornaments is slightly lower than originally reported, prompting Y to send an updated valuation back to the admin for review. The gold valuation module (212) securely transmits the updated valuation and generates a new three-dimensional validation code, ensuring the process is transparent and traceable. This allows the branch operator, A, to adjust the loan terms accordingly based on the updated valuation, ensuring that the loan remains fair and accurate. The system’s use of geotagging, automated comparison, and secure submission ensures a streamlined, accurate, and secure process for managing gold loans and their valuations.
[0088] This proactive approach not only maintains the integrity of the banking experience but also fosters an environment of trust and security, ensuring that all users adhere to the application’s policies and engage in safe financial practices. Through these comprehensive security measures, the banking application protects both itself and its users from potential threats, ultimately enriching the overall experience for everyone involved.
[0089] Overall, the disclosed gold loan management system significantly enhances the accuracy, efficiency, and security of the entire loan valuation and auditing process. By integrating modules for valuation requests, gold valuation, bag management, secure submissions, geotagging, and comparison, the system streamlines the entire workflow from the initial loan valuation to the revaluation phase. This ensures that all valuations are consistent, accurate, and based on up-to-date information, promoting transparency and accountability. The system's real-time alerts and automated processes allow auditors and branch operators to stay informed and responsive, ensuring timely actions are taken when discrepancies or issues arise. By incorporating GPS-based geotagging, the system enhances security by restricting access to sensitive data based on proximity to the branch, thus minimizing the risk of unauthorized actions. The comparison module ensures that all revalued valuations are thoroughly compared to original data, generating reports that facilitate immediate corrective actions when needed. This comprehensive and proactive approach not only ensures the integrity and fairness of the gold loan system but also fosters trust and confidence among users, enabling secure, transparent, and efficient management of gold-backed loans.
[0090] A person skilled in the art will understand that the scope of the disclosure is not limited to scenarios based on the aforementioned factors and using the aforementioned techniques, and that the examples provided do not limit the scope of the disclosure.
[0091] fig. 4 illustrates a block diagram of an exemplary computer system (401) for valuation auditing for gold loan management with embodiments consistent with the present disclosure.
[0092] Variations of computer system (401) may be used for valuation auditing for gold loan management. The computer system (401) may comprise a central processing unit (“CPU” or “processor”) (402). The processor (402) may comprise at least one data processor for executing program components for executing user or system generated requests. A user may include a person, a person using a device such as those included in this disclosure, or such a device itself. Additionally, the processor (402) may include specialized processing units such as integrated system (bus) controllers, memory management control units, floating point units, graphics processing units, digital signal processing units, or the like. In various implementations the processor (402) may include a microprocessor, such as AMD Athlon, Duron or Opteron, ARM’s application, embedded or secure processors, IBM PowerPC, Intel’s Core, Itanium, Xeon, Celeron or other line of processors, for example. Accordingly, the processor (402) may be implemented using mainframe, distributed processor, multi-core, parallel, grid, or other architectures. Some embodiments may utilize embedded technologies like application-specific integrated circuits (ASICs), digital signal processors (DSPs), or Field Programmable Gate Arrays (FPGAs), for example.
[0093] Processor (402) may be disposed in communication with one or more input/output (I/O) devices via I/O interface (403). Accordingly, the I/O interface (403) may employ communication protocols/methods such as, without limitation, audio, analog, digital, monoaural, RCA, stereo, IEEE-1394, serial bus, universal serial bus (USB), infrared, PS/2, BNC, coaxial, component, composite, digital visual interface (DVI), high-definition multimedia interface (HDMI), RF antennas, S-Video, VGA, IEEE 802.n /b/g/n/x, Bluetooth, cellular (e.g., code-division multiple access (CDMA), high-speed packet access (HSPA+), global system for mobile communications (GSM), long-term evolution (LTE), WiMAX, or the like, for example.
[0094] Using the I/O interface (403), the computer system (401) may communicate with one or more I/O devices. For example, the input device (404) may be an antenna, keyboard, mouse, joystick, (infrared) remote control, camera, card reader, fax machine, dongle, biometric reader, microphone, touch screen, touchpad, trackball, sensor (e.g., accelerometer, light sensor, GPS, gyroscope, proximity sensor, or the like), stylus, scanner, storage device, transceiver, video device/source, or visors, for example. Likewise, an output device (405) may be a user’s smartphone, tablet, cell phone, laptop, printer, computer desktop, fax machine, video display (e.g., cathode ray tube (CRT), liquid crystal display (LCD), light- emitting diode (LED), plasma, or the like), or audio speaker, for example. In some embodiments, a transceiver (406) may be disposed in connection with the processor (402). The transceiver (406) may facilitate various types of wireless transmission or reception. For example, the transceiver (406) may include an antenna operatively connected to a transceiver chip (example devices include the Texas Instruments® WiLink WL1283, Broadcom® BCM4750IUB8, Infineon Technologies® X-Gold 618-PMB9800, or the like), providing IEEE 802.11a/b/g/n, Bluetooth, FM, global positioning system (GPS), and/or 2G/3G/5G/6G HSDPA/HSUPA communications, for example.
[0095] In some embodiments, the processor (402) may be disposed in communication with a communication network (408) via a network interface (407). The network interface (407) is adapted to communicate with the communication network (408). The network interface (407) may employ connection protocols including, without limitation, direct connect, Ethernet (e.g., twisted pair 10/100/1000 Base T), transmission control protocol/internet protocol (TCP/IP), token ring, or IEEE 802.11a/b/g/n/x, for example. The communication network (408) may include, without limitation, a direct interconnection, local area network (LAN), wide area network (WAN), wireless network (e.g., using Wireless Application Protocol), or the Internet, for example. Using the network interface (407) and the communication network (408), the computer system (401) may communicate with devices such as shown as a laptop (409) or a mobile/cellular phone (410). Other exemplary devices may include, without limitation, personal computer(s), server(s), fax machines, printers, scanners, various mobile devices such as cellular telephones, smartphones (e.g., Apple iPhone, Blackberry, Android-based phones, etc.), tablet computers, desktop computers, eBook readers (Amazon Kindle, Nook, etc.), laptop computers, notebooks, gaming consoles (Microsoft Xbox, Nintendo DS, Sony PlayStation, etc.), or the like. In some embodiments, the computer system (401) may itself embody one or more of these devices.
[0096] In some embodiments, the processor (402) may be disposed in communication with one or more memory devices (e.g., RAM 413, ROM 414, etc.) via a storage interface (412). The storage interface (412) may connect to memory devices including, without limitation, memory drives, removable disc drives, etc., employing connection protocols such as serial advanced technology attachment (SATA), integrated drive electronics (IDE), IEEE-1394, universal serial bus (USB), fiber channel, small computer systems interface (SCSI), etc. The memory drives may further include a drum, magnetic disc drive, magneto-optical drive, optical drive, redundant array of independent discs (RAID), solid-state memory devices, or solid-state drives, for example.
[0097] The memory devices may store a collection of program or database components, including, without limitation, an operating system (416), user interface application (417), web browser (418), mail client/server (419), user/application data (420) (e.g., any data variables or data records discussed in this disclosure) for example. The operating system (416) may facilitate resource management and operation of the computer system (401). Examples of operating systems include, without limitation, Apple Macintosh OS X, UNIX, Unix-like system distributions (e.g., Berkeley Software Distribution (BSD), FreeBSD, NetBSD, OpenBSD, etc.), Linux distributions (e.g., Red Hat, Ubuntu, Kubuntu, etc.), IBM OS/2, Microsoft Windows (XP, Vista/7/8, etc.), Apple iOS, Google Android, Blackberry OS, or the like.
[0098] The user interface (417) is for facilitating the display, execution, interaction, manipulation, or operation of program components through textual or graphical facilities. For example, user interfaces (417) may provide computer interaction interface elements on a display system operatively connected to the computer system (401), such as cursors, icons, check boxes, menus, scrollers, windows, or widgets, for example. Graphical user interfaces (GUIs) may be employed, including, without limitation, Apple Macintosh operating systems’ Aqua, IBM OS/2, Microsoft Windows (e.g., Aero, Metro, etc.), Unix X-Windows, or web interface libraries (e.g., ActiveX, Java, JavaScript, AJAX, HTML, Adobe Flash, etc.), for example.
[0099] In some embodiments, the computer system (401) may implement a web browser (418) stored program component. The web browser (418) may be a hypertext viewing application, such as Microsoft Internet Explorer, Google Chrome, Mozilla Firefox, Apple Safari, or Microsoft Edge, for example. Secure web browsing may be provided using HTTPS (secure hypertext transport protocol), secure sockets layer (SSL), Transport Layer Security (TLS), or the like. Web browsers may utilize facilities such as AJAX, DHTML, Adobe Flash, JavaScript, Java, or application programming interfaces (APIs), for example. In some embodiments the computer system (401) may implement a mail client/server (419) stored program component. The mail server (419) may be an Internet mail server such as Microsoft Exchange, or the like. The mail server may utilize facilities such as ASP, ActiveX, ANSI C++/C#, Microsoft .NET, CGI scripts, Java, JavaScript, PERL, PHP, Python, or WebObjects, for example. The mail server (419) may utilize communication protocols such as internet message access protocol (IMAP), messaging application programming interface (MAPI), Microsoft Exchange, post office protocol (POP), simple mail transfer protocol (SMTP), or the like. In some embodiments, the computer system (401) may implement a mail client (420) stored program component. The mail client (420) may be a mail viewing application, such as Apple Mail, Microsoft Entourage, Microsoft Outlook, or Mozilla Thunderbird.
[00100] In some embodiments, the computer system (401) may store user/application data (421), such as the data, variables, records, or the like as described in this disclosure. Such databases may be implemented as fault-tolerant, relational, scalable, secure databases such as Oracle or Sybase, for example. Alternatively, such databases may be implemented using standardized data structures, such as an array, hash, linked list, struct, structured text file (e.g., JSON, XML), table, or as object-oriented databases (e.g., using ObjectStore, Poet, Zope, etc.). Such databases may be consolidated or distributed, sometimes among the various computer systems discussed above in this disclosure. It is to be understood that the structure and operation of any computer or database component may be combined, consolidated, or distributed in any working combination.
[00101] Furthermore, one or more computer-readable storage media may be utilized in implementing embodiments consistent with the present invention. A computer-readable storage medium refers to any type of physical memory on which information or data readable by a processor may be stored. Thus, a computer-readable storage medium may store instructions for execution by one or more processors, including instructions for causing the processor(s) to perform steps or stages consistent with the embodiments described herein. The term “computer readable medium” should be understood to include tangible items and exclude carrier waves and transient signals, i.e., non-transitory. Examples include Random Access Memory (RAM), Read- Only Memory (ROM), volatile memory, non-volatile memory, hard drives, Compact Disc (CD) ROMs, Digital Video Disc (DVDs), flash drives, disks, and any other known physical storage media.
[00102] Various embodiments of the disclosure encompass numerous advantages including methods and systems for valuation auditing for gold loan management. The disclosed method and system have several technical advantages, but not limited to the following:
• Streamlined Gold Valuation Process: The system's integration of the gold valuation module allows for automatic calculation of gold valuations based on predefined rates, eliminating manual errors and ensuring consistency across all valuations. This streamlines the process and increases efficiency in handling multiple gold loan requests.

• Automated Bag Management: The bag management module enables automatic identification and replacement of defective gold bags with a predefined series. This automation reduces manual oversight and ensures that the physical gold storage is always secure and properly managed, enhancing operational efficiency.

• Secure Data Submission with Validation: The submission of data ensures that valuation details are submitted securely via a three-dimensional code (e.g., QR code). This method guarantees both data validation and confidentiality, reducing the risk of fraudulent or unauthorized alterations to gold valuation records during transmission.

• Proximity-Based Access Control: The geotagging module restricts access to accounts for revaluation based on proximity to branch locations. By tracking auditor locations using GPS data, this module ensures that only authorized personnel within the designated radius can access sensitive data, adding a layer of security that protects against unauthorized access.

• Efficient Revaluation and Comparison: The comparison module provides auditors with immediate access to original valuation details, enabling a side-by-side comparison of the initial and revalued valuations. This feature not only helps auditors detect discrepancies more quickly but also provides automated alerts for any detected differences, reducing human error and improving the accuracy of audits.

• Enhanced Security and Audit Transparency: The combination of real-time alerts, geotagging, and comparison mechanisms ensures that all valuations and revaluation processes are thoroughly documented and auditable. This transparency fosters greater trust in the system by ensuring that discrepancies are easily identified and addressed.

• Reduced Operational Overhead: By automating key functions such as gold valuation calculations, bag replacements, and data submissions, the system reduces the need for manual intervention. This leads to significant time and resource savings, allowing personnel to focus on higher-priority tasks while the system handles routine processes.

• Location-Based Alerts for Auditors: The integration of geotagging allows auditors to receive location-based alerts regarding accounts requiring revaluation. This ensures that auditors are always aware of their responsibilities and provides them with up-to-date information, improving their effectiveness and reducing the likelihood of missed revalues.

• Consistency Across Branches: By implementing geotagging during branch creation, the system ensures that auditors are only granted access to revaluation tasks within the designated geographic area. This geographically aware access system strengthens consistency and reduces the chances of errors in gold loan processing across multiple branches.

• Automated Reporting for Discrepancies: The comparison module automatically generates reports for any discrepancies detected during the auditor revaluation process. This feature not only saves time by automating report generation but also ensures that any inconsistencies are documented and communicated to administrators promptly for review and corrective action.

• Real-Time Monitoring Dashboard: Adding a real-time monitoring dashboard for administrators could provide immediate insights into the system's performance and detect discrepancies, allowing for quicker responses to potential threats.
[00103] In summary, the technical advantages of this system address several challenges within the gold loan management process, including the need for secure, efficient, and accurate gold valuation, tracking, and auditing. By automating key functions such as valuation calculations, bag management, data submission, and auditor revaluation, the system minimizes human error, improves transparency, and ensures that discrepancies are detected and addressed promptly. Moreover, the integration of geotagging and automated comparison tools enhances security and auditability, while real-time alerts provide proactive measures to protect against fraud or negligence. These combined advantages result in a streamlined, more reliable, and highly secure gold loan management system that significantly enhances operational efficiency while ensuring compliance with industry standards.
[00104] The claimed invention integrates multiple technical elements such as processors, memory, automated modules, geotagging, secure communications, and real-time alerts to provide an efficient, secure, and transparent gold loan management system. This inventive system significantly improves accuracy, reduces manual interventions, and enhances security, leading to better operational outcomes and a more reliable auditing process across multiple branches.
[00105] Furthermore, the invention involves a non-trivial combination of technologies and methodologies that provide a technical solution for a technical problem. While individual components like processors, databases, encryption, authorization and authentication are well-known in the field of computer science, their integration into a comprehensive system for valuation auditing for gold loan management, brings about an improvement and technical advancement in the field of online gaming and other related environments.
[00106] In light of the above-mentioned advantages and the technical advancements provided by the disclosed method and system for valuation auditing for gold loan management, the claimed steps as discussed above are not routine, conventional, or well understood in the art, as the claimed steps enable the following solutions to the existing problems in conventional technologies. Further, the claimed steps clearly bring an improvement in the functioning of the device itself as the claimed steps provide a technical solution to a technical problem.
[00107] The present disclosure may be realized in hardware, or a combination of hardware and software. The present disclosure may be realized in a centralized fashion, in at least one computer system, or in a distributed fashion, where different elements may be spread across several interconnected computer systems. A computer system or other apparatus adapted for carrying out the methods described herein may be suited. A combination of hardware and software may be a general-purpose computer system with a computer program that, when loaded and executed, may control the computer system such that it carries out the methods described herein. The present disclosure may be realized in hardware that comprises a portion of an integrated circuit that also performs other functions.
[00108] A person with ordinary skills in the art will appreciate that the systems, modules, and sub-modules have been illustrated and explained to serve as examples and should not be considered limiting in any manner. It will be further appreciated that the variants of the above disclosed system elements, modules, and other features and functions, or alternatives thereof, may be combined to create other different systems or applications.
[00109] Those skilled in the art will appreciate that any of the aforementioned steps and/or system modules may be suitably replaced, reordered, or removed, and additional steps and/or system modules may be inserted, depending on the needs of a particular application. In addition, the systems of the aforementioned embodiments may be implemented using a wide variety of suitable processes and system modules, and are not limited to any particular computer hardware, software, middleware, firmware, microcode, and the like. The claims can encompass embodiments for hardware and software, or a combination thereof.
[00110] While the present disclosure has been described with reference to certain embodiments, it will be understood by those skilled in the art that various changes may be made, and equivalents may be substituted without departing from the scope of the present disclosure. In addition, many modifications may be made to adapt a particular situation or material to the teachings of the present disclosure without departing from its scope. Therefore, it is intended that the present disclosure is not limited to the particular embodiment disclosed, but that the present disclosure will include all embodiments falling within the scope of the appended claims
, C , C , Claims:WE CLAIM:
1. A valuation auditing system (100) for gold loan management, the system (100) comprises:
a processor (202), a memory (204) communicatively coupled with the processor (202), wherein the memory (204) is configured to store one or more executable instructions, which cause the processor (202) to:
a valuation request module (210) configured to allow an internal user to assign a valuer for gold valuation, wherein a request is sent to the valuer and is visible in an interface;
a gold valuation module (212) providing the interface for the valuer to input one or more parameters and the gold valuation is automatically calculated at a predefined rate fixed at an admin level, wherein the gold valuation module (212) receives the gold valuation from the valuer, generating a multi-dimensional code for validation, and sending the valuation details to the internal user;
a bag management module (214) that allows the system to request one or more gold bags, and allocate a predefined series number;
an auditor request and assignment module (216) that generates a request for revaluation of gold based on a revaluation parameter and automatically assigns an auditor for the revaluation based on an auditor assignment parameter;
a geotagging module (218) tracks location of the auditor and a branch, wherein one or more users can track the location of the one or more auditors, one or more branches, and the one or more valuers; and
a comparison module (220) that allows the system to compare original valuation details received from the valuer for comparison during the auditor revaluation, wherein an automated report is generated highlighting any variations between the valuation and the revaluation.
2. The system (100) as claimed in claim 1, wherein the gold revaluation is performed by help of the gold valuation module (212), the bag management module (214), the auditor request and assignment module (216), and the geotagging module (218) incorporating similar steps as the gold valuation, wherein the comparison of the gold valuation with the revaluation of the gold with the help of the comparison module (220).
3. The system (100) as claimed in claim 1, wherein the one or more parameters corresponds to gross weight of gold, deduction for stones, carat of gold, net weight and/or combination thereof.
4. The system (100) as claimed in claim 1, wherein the bag management module includes a feature that allows the system to optionally request one or more replacement gold bags if a defective gold bag is identified, wherein the one or more replacement gold bags are allocated automatically with a predefined series of numbers for a single account.
5. The system (100) as claimed in claim 1, wherein the bag management module (214) includes a tracking feature to monitor the status and allocation of bags used for gold storage.
6. The system (100) as claimed in claim 1, wherein the revaluation parameter corresponds to number of days from loan issuance, or number of bags processed by the internal user at one or more branch locations.
7. The system (100) as claimed in claim 1, wherein the auditor assignment parameter corresponds to the valuer being different from the auditor, and the auditor should be of different region from the assigned branch, the auditor should not be the employee of the assigned branch, and/or combination thereof.
8. The system (100) as claimed in claim 1, wherein the geotagging module (218) utilizes GPS data to verify the location of auditor before granting access to accounts for revaluation.
9. The system (100) as claimed in claim 1, wherein the gold valuation module (212) enables the system to facilitate gold valuation to both the one or more valuers and the one or more auditors.
10. The system (100) as claimed in claim 1, wherein the comparison module (220) generates alerts for any discrepancies detected, wherein the alerts are notified to the one or more customers and the admin and/or combination thereof.
11. The system (100) as claimed in claim 1, wherein the gold valuation module (212) includes a secure communication channel for transmitting valuation details to the internal user, ensuring data integrity and confidentiality.
12. The system (100) as claimed in claim 1, wherein the entire workflow of the gold valuation and the gold revaluation is monitored through a centralized dashboard connected with a static camera accessible to admin users, customer, internal user providing real-time updates on valuation requests, access, and discrepancies.
13. The system (100) as claimed in claim 1, wherein the system allows the auditor to capture and upload images of the gold ornaments and bags.
14. The system (100) as claimed in claim 1, wherein system is integrated with image processing capabilities to ensure the quality and clarity of the captured images for record keeping.
15. A method (300) for valuation auditing for gold loan management, the method (300) comprises:
assigning (302), via a processor, a valuer for gold valuation from an internal user, wherein the request is sent to the valuer and is visible in an interface;
providing (304), via the processor, the interface for the valuer to input one or more parameters related to the gold valuation, wherein the gold valuation is automatically calculated at a predefined rate fixed at an admin level,
wherein receiving the gold valuation from the valuer, generating a multi-dimensional code for validation, and sending the valuation details to the internal user;
requesting (306), via the processor, one or more gold bags through a bag management module and allocating a predefined series number to each requested gold bag;
generating (308), via the processor, a request for revaluation of gold based on a revaluation parameter, and automatically assigning an auditor for the revaluation based on an auditor assignment parameter;
tracking (310), via the processor, the location of the auditor and the branch using a geotagging module, wherein one or more users can track the location of the one or more auditors, one or more branches and the one or more valuers; and
comparing (312), via the processor, original valuation details received from the valuer with the details during the auditor's revaluation, wherein an automated report is generated highlighting any variations between the valuation and the revaluation.
16. A non-transitory computer-readable storage medium having stored thereon, a set of computer-executable instructions causing a computer comprising one or more processors to perform steps comprising:
assigning (302), a valuer for gold valuation from an internal user, wherein the request is sent to the valuer and is visible in an interface;
providing (304), the interface for the valuer to input one or more parameters related to the gold valuation, wherein the gold valuation is automatically calculated at a predefined rate fixed at an admin level, wherein receiving the gold valuation from the valuer, generating a multi-dimensional code for validation, and sending the valuation details to the internal user;
requesting (306), one or more gold bags through a bag management module and allocating a predefined series number to each requested gold bag;
generating (308), a request for revaluation of gold based on a revaluation parameter, and automatically assigning an auditor for the revaluation based on an auditor assignment parameter;
tracking (310), the location of the auditor and the branch using a geotagging module, wherein one or more users can track the location of the one or more auditors, one or more branches and the one or more valuers; and
comparing (312), original valuation details received from the valuer with the details during the auditor's revaluation, wherein an automated report is generated highlighting any variations between the valuation and the revaluation.

Dated this 25th Day of February 2025

ABHIJEET GIDDE
AGENT FOR THE APPLICANT
IN/PA- 4407