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US 12,770,146 B2Granted
Data verified deposits
AssigneePlaid Inc.
InventorWarren Lowell Putnam
Life of this patent
Estimating the term…
Abstract
A system and method for verifying account ownership using verified deposits. An ACH verification platform may recognize or detect a verification process involving micro deposits. A verification platform may receive and store user login, initiate the deposits, and monitor the user's account to verify that posting of the deposits was successful. In embodiments, a dedicated web form or portal may be provided for receiving verification information.
Claims20
A computer-implemented method, comprising:
- receiving, by a verification platform computing device and via an application programming interface (API), account information associated with a user account,
- wherein the API provides a connection via a network between the verification platform computing device and a financial institution computing device;
- initiating, by the verification platform computing device, a deposit of an amount to the user account using the account information;
- monitoring, by the verification platform computing device, the user account on a periodic basis;
- identifying, by the verification platform computing device and based on monitoring the user account on the periodic basis, the deposit as cleared;
- verifying, by the verification platform computing device, the user account after monitoring the user account on the periodic basis and after identifying the deposit as cleared based on monitoring the user account on the periodic basis;
- and
- transmitting, by the verification platform computing device and via the network, a verification of the user account to a user device,
- wherein the verification of the user account is transmitted after the user account is verified after identifying the deposit as cleared, and
- wherein the user device, the verification platform computing device, and the financial institution computing device are different devices.
7 more elements
A verification platform computing device, comprising:
- one or more memories;
- and
- one or more processors configured to cause the verification platform computing device to:
- receive, via an application programming interface (API), account information associated with a user account,
- wherein the API provides a connection via a network between the verification platform computing device and a financial institution computing device;
- initiate a deposit of an amount to the user account using the account information;
- monitor the user account on a periodic basis;
- identify, based on monitoring the user account on the periodic basis, the deposit as cleared;
- verify, after monitoring the user account on the periodic basis and after identifying the deposit as cleared based on monitoring the user account on the periodic basis, the user account;
- and
- transmit, via the network, a verification of the user account to a user device,
- wherein the verification of the user account is transmitted after the user account is verified after identifying the deposit as cleared, and
- wherein the user device, the verification platform computing device, and the financial institution computing device are different devices.
10 more elements
A non-transitory computer-readable medium including one or more computer-executable instructions that, when executed by a computing device, cause the computing device to:
- receive, via an application programming interface (API), account information associated with a user account,
- wherein the API provides a connection via a network between the computing device and a financial institution computing device;
- initiate a deposit of an amount to the user account using the account information;
- monitor the user account on a periodic basis;
- identify, based on monitoring the user account on the periodic basis, the deposit as cleared;
- verify, after monitoring the user account on the periodic basis and after identifying the deposit as cleared based on monitoring the user account on the periodic basis, the user account;
- and
- transmit, via the network, a verification of the user account to a user device,
- wherein the verification of the user account is transmitted after the user account is verified after identifying the deposit as cleared, and
- wherein the user device, the computing device, and the financial institution computing device are different devices.
7 more elements
Dependencies are inferred from the claim text.