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US 2014/0279518 A1Published application
System and method for consumer fraud protection
AssigneeAllowify LLC
InventorJosé Antonio Acuna-Rohter
Life of this patent
Estimating the term…
Abstract
The present invention relates to system and method for authorizing a financial transaction using user-data collected from third party websites, such as Social Media Networks. In operation, collected user-data may be compared to a financial-data collected during a financial transaction to identify potential fraud and/or other discrepancies, confirming the identity of the user with a greater degree of accuracy.
Claims19
A process for authorizing a financial transaction comprising the steps of:
- receiving transaction-data related to said financial transaction from a financial institution over a communication network;
- receiving user-data from a third-party information source;
- and
- comparing said transaction-data to said user-data to authorize or deny said financial transaction.
1 more element
A transaction authentication system for managing financial transactions, said transaction authentication system comprising:
- a data storage device storing a database linking at least one financial account at a financial institution with at least one third-party information source;
- and
- at least one processor, operatively coupled to the data storage device,
- wherein, when financial-data related to a financial transaction for the at least one financial account is received at said transaction authentication system, said at least one processor (a) retrieves user-data from said third-party information source and (b) compares said financial-data to said user-data to authorize or deny said financial transaction.
1 more element
Dependencies are inferred from the claim text.