System and method for multi-factor mobile user authentication

A system comprising:

• a tangible, non-transitory memory communicating with a processor,
• the tangible, non-transitory memory having instructions stored thereon that, in response to execution by the processor, cause a fraud prevention processor to perform operations comprising:
• associating, by the processor and in an electronic registry,
• a mobile device user identifier with transaction account information of the mobile device user,
• a unique SIM card hardware identifier of a SIM card of a mobile device, and
• a unique mobile device hardware identifier;
• transmitting, by the processor, public key data to a memory location of the SIM card, wherein the public key data is securely stored in the memory location of the SIM card;
• transmitting, by the processor, private key data to the memory location of the SIM card, wherein the private key data is securely stored to the memory location of the SIM card;
• receiving, by the processor, a transaction request message over a mobile network via a transaction application stored to a memory associated with the mobile device, wherein a private key is appended to the transaction request message to create a signed message, wherein a public key is appended to the signed message by the transaction application;
• verifying, by the processor, that the public key is correct;
• validating, by the processor, by comparing the mobile device hardware identifier captured with the transaction request message with expected mobile device hardware identifier information stored in the electronic registry and associated with the received public key;
• validating, by the processor, by comparing the SIM card hardware identifier information captured with the transaction request message with expected SIM card hardware identifier information stored in the electronic registry and associated with the received public key;
• verifying, by the processor, that the private key is correct;
• appending, by the processor, transaction account information of the mobile device user to the transaction request message;
• and
• transmitting, by the processor, the appended transaction request to a financial transaction processor for authorization.

A method comprising:

• providing, by a mobile network operator computer and to a registry host, a unique mobile device hardware identifier of a mobile device;
• providing, by the mobile network operator computer, a unique SIM card hardware identifier of a SIM card associated with the mobile device to the registry host, wherein a registry host associates, in an electronic registry, a mobile device user identifier with transaction account information of a mobile device user, the unique SIM card hardware identifier of the SIM card of the mobile device, and the mobile device hardware identifier;
• transmitting, by the mobile network operator computer, a transaction request from the mobile device over a mobile network to a trusted certificate authority for verification of a public key associated with the mobile transaction request;
• intercepting, by the mobile network operator computer, the device hardware identifier information of the mobile device transmitting the mobile transaction request;
• intercepting, by the mobile network operator computer, the SIM card hardware identifier information of the SIM card associated with the mobile device transmitting the mobile transaction request;
• intercepting, by the mobile network operator computer, mobile device location information of the mobile device transmitting the mobile transaction request, wherein the mobile device location information comprises a Mobile Subscriber Integrated Services Digital Network Number (MSISDN);
• providing, by the mobile network operator computer, the intercepted the device hardware identifier information and the SIM card hardware identifier to the registry host for verification, wherein the registry host compares the mobile device hardware identifier information intercepted with the transmitted transaction request message with expected mobile device hardware identifier information stored in the electronic registry associated with the mobile device;
• providing, by the mobile network operator computer, the intercepted mobile device location information to the registry host for verification, wherein the registry host compares the mobile device location information intercepted with the transmitted transaction request message with expected mobile device location information stored in the electronic registry associated with the mobile device;
• and
• providing, by the mobile network operator computer, the intercepted the device hardware identifier information and the SIM card hardware identifier to the registry host for verification, wherein the registry host compares the mobile device hardware identifier information intercepted with the transmitted transaction request message with the expected mobile device hardware identifier information stored in the electronic registry associated with the mobile device and the SIM card hardware identifier information intercepted with the transmitted transaction request message with expected SIM card hardware identifier information stored in the electronic registry associated with the mobile device.