System and method for secure transactions using device-related fingerprints

A method for authorizing a financial transaction conducted at a user mobile device, comprising:

• collecting fingerprint data at the user device, the fingerprint data comprising multiple characteristics related to the user device, wherein at least some of the characteristics vary over time;
• transmitting the fingerprint data to a host computer;
• storing the provided fingerprint data at the host computer as a reference fingerprint;
• periodically updating the reference fingerprint by collecting updated fingerprint data at the user device, providing the updated fingerprint data to the host computer, and storing the updated fingerprint data at the host computer as the reference fingerprint;
• when a financial transaction is to be conducted at the user device, transmitting current fingerprint data at the user device to the host computer;
• comparing the transmitted current device fingerprint data to the reference fingerprint stored at the host;
• and
• based on the comparison, determining whether to authorize the financial transaction.

A system for providing secure transactions, comprising:

• a user device configured to:
• collect fingerprint data for the user device, the fingerprint data including both device feature data and device use data, the device feature data comprising data identifying components installed on the user device, the device use data comprising data identifying uses of the device by a user of the user device;
• transmit a first, collected fingerprint data to a host computer;
• and
• when a transaction is to be conducted at the user device, transmit a second, current fingerprint data collected at the user device;
• and
• a host computer communicatively coupled to the mobile device and configured to:
• store the first fingerprint data as a reference fingerprint;
• compare the second, current fingerprint data to the reference fingerprint at the host;
• and
• based on the comparison, determine whether to authorize the transaction.