System and method for authenticating a person's identity using a trusted entity

A method for authenticating a person's identity to a transactional entity using a trusted entity with a secure repository of a person's personal identity information, comprising:

• accessing a person's account on the trusted entity's server using a user identifier and a password;
• granting the person a single-use key, associated with a person identifier to form a unique code, the key being obtained from the trusted entity;
• delivering the unique code from the person to the transactional entity;
• verifying the person's identity to the transactional entity by confirming the unique code using the trusted entity's server.

A method for generating a single-use key used for authenticating a person's identity using a trusted entity with a secure repository of a person's personal identity information comprising:

• assessing a transactional entity's account on the trusted entity's server, wherein the transactional entity is accessing the transactional entity's account;
• selecting types of inquiries to use to authenticate the person's identity, wherein a verifying entity selects the types of inquiries;
• accessing a person's account on the trusted entity's server using a user identifier and a password, wherein the person is accessing the person's account;
• responding to the inquiries selected by the transactional entity so the person's identity can be authenticated, wherein the person is responding to the inquiries;
• comparing the person's responses to the inquiries with the person's personal identity information stored on the trusted entity's secure repository by the trusted entity;
• generating a single-use key, associated with a person identifier to form a unique code, generated from the trusted entity and granted to the person for use by the transactional entity if the person's responses match the person's personal identity information stored on the trusted entity's secure server.