Authentication methods for use in financial transactions and information banking
AssigneeBank of America Corporation
InventorsSamuel Jeff Carter, Ray Garcia, David Joa, David Joffe, John Mertz, Zoran Obradovic, Hans Schumacher
Life of this patent
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Abstract
A method for conducting a financial transaction can be used by a person using a mobile device to conduct the transaction. The mobile device receives information related to the person that can be used for authentication purposes, such as a PIN or biometric data. The mobile device then authenticates the person by verifying the information received. If the person is authenticated, the transaction is completed using the mobile device, and if the person is not authenticated, the transaction is prevented.
Claims25
A method comprising:
- initiating a financial transaction involving a person using a mobile device;
- determining a selected method for authenticating the transaction based on a characteristic of the transaction, wherein the selected method is selected from a plurality of authentication methods, each utilizing a different type of information for authentication;
- and
- receiving, by the mobile device, authentication information related to the person;
- authenticating the person using the mobile device by verification of the authentication information, using the selected method,
- wherein if the person is authenticated, the transaction is completed using the mobile device, and if the person is not authenticated, the transaction is prevented.
A method comprising:
- initiating a financial transaction involving a person;
- determining, based on a characteristic of the transaction, a necessary authentication level for the transaction within a hierarchy of authentication levels, wherein each authentication level requires a different authentication method;
- receiving authentication information related to the person based on the necessary authentication level;
- and
- authenticating the person by verification of the authentication information, using the authentication method required by the necessary authentication level,
- wherein if the person is authenticated, the transaction is completed, and if the person is not authenticated, the transaction is prevented.
A mobile device comprising:
- a biometric sensor configured to read biometric information of a person;
- a processor configured to cause the mobile device to perform:
- receiving, at a point-of-sale, information regarding a financial transaction occurring at the point-of-sale;
- receiving, at the point-of-sale, biometric information of a person to the financial transaction;
- verifying, at the point-of-sale, the biometric information by comparing the biometric information with stored biometric information accessible to the processor;
- and
- transmitting a signal confirming the verification of the biometric information, wherein the transaction is prevented unless the biometric information is verified.
Dependencies are inferred from the claim text.