Transaction authorization and alert system

An automated method for authorizing a transaction, said transaction based on a customer identifier associated with a customer, the method comprising the steps of:

• receiving a request to authorize said transaction, said request including said customer identifier;
• determining, in response to said request and based on said customer identifier, whether to authorize said transaction;
• when said determining step determines that said transaction is to be authorized, communicating said determination to said customer;
• and
• determining whether a communication indicating that said transaction is not to be authorized is received within a given amount of time from said customer;
• and
• authorizing said transaction if said communication from said customer is not received within said given amount of time.

An automated method for authorizing a transaction, said transaction based on a customer identifier associated with a customer, the method comprising the steps of:

• communicating to said customer a confirmation code for use in executing said transaction;
• receiving a request to authorize said transaction, said request including said customer identifier and said confirmation code;
• determining, in response to said request, based on said customer identifier, and based on whether said received confirmation code matches said confirmation code communicated to said customer, whether to authorize said transaction;
• authorizing said transaction if said determining step determines that said transaction is to be authorized.

An automated method for authorizing a transaction, said transaction based on a customer identifier associated with a customer, the method comprising the steps of:

• receiving a request to authorize said transaction, said request including said customer identifier;
• determining, in response to said request and based on said customer identifier, whether to authorize said transaction;
• when said determining step determines that said transaction is to be authorized, communicating to said customer a confirmation code for use in completing execution of said transaction;
• receiving a communication comprising said confirmation code;
• and
• authorizing said transaction in response to said received confirmation code matching said confirmation code communicated to said customer.

An automated system for use in authorizing a transaction, said transaction based on a customer identifier associated with a customer, the system comprising:

• a receiver adapted to receive a request to authorize said transaction, said request including said customer identifier;
• means for determining, in response to said request and based on said customer identifier, whether to authorize said transaction;
• a transmitter adapted to communicate said determination to said customer when said means for determining determines that said transaction is to be authorized;
• a receiver adapted to receive a communication from said customer confirming that said customer consents to said transaction being authorized;
• and
• means for authorizing said transaction in response to said communication received from said customer.

An automated system for use in authorizing a transaction, said transaction based on a customer identifier associated with a customer, the system comprising:

• a receiver adapted to receive a request to authorize said transaction, said request including said customer identifier;
• means for determining, in response to said request and based on said customer identifier, whether to authorize said transaction;
• a transmitter adapted to communicate said determination to said customer when said means for determining determines that said transaction is to be authorized;
• a timer adapted to determine whether a communication indicating that said transaction is not to be authorized is received within a given amount of time from said customer;
• and
• means for authorizing said transaction if said communication from said customer is not received within said given amount of time.

An automated system for use in authorizing a transaction, said transaction based on a customer identifier associated with a customer, the system comprising:

• a receiver adapted to receive a communication from said customer indicating that said customer desires to execute said transaction;
• a transmitter adapted to communicate to said customer a confirmation code for use in executing said transaction;
• a receiver adapted to receive a request to authorize said transaction, said request including said customer identifier and said confirmation code;
• means for determining, in response to said request, based on said customer identifier, and based on whether said received confirmation code matches said confirmation code communicated to said customer, whether to authorize said transaction;
• and
• means for authorizing said transaction if said means for determining determines that said transaction is to be authorized.

An automated system for use in authorizing a transaction, said transaction based on a customer identifier associated with a customer, the system comprising:

• a receiver adapted to receive a request to authorize said transaction, said request including said customer identifier;
• means for determining, in response to said request and based on said customer identifier, whether to authorize said transaction;
• a transmitter adapted to communicate to said customer a confirmation code for use in completing execution of said transaction when said means for determining determines that said transaction is to be authorized;
• a receiver adapted to receive a communication comprising said confirmation code;
• and
• means for authorizing said transaction in response to said received confirmation code matching said confirmation code communicated to said customer.

A method of processing a transaction, the method comprising the steps of:

• receiving information associated with a transaction initiated by an agent of a principal;
• retrieving a profile based on said information associated with said transaction;
• comparing at least a portion of said information to data included in said profile;
• and
• contemporaneous with said comparison, notifying said principal of said transaction.

A system for processing a transaction, the system comprising:

• a database which receives information associated with a transaction initiated by an agent of a principal and which stores a profile defined by said principal;
• a processor which a) retrieves said profile from said database based on said information associated with said transaction, and b) compares at least a portion of said information to data included in said profile;
• and
• a network over which a notification signal is transmitted to said principal contemporaneous with said comparison.