Systems and methods for performing financial transactions using active authentication

Patent metadata

Field	Value
Publication number	US-11514451-B2
Application number	US-201113085754-A
Country	US
Kind code	B2
Filing date	Apr 13, 2011
Priority date	Mar 15, 2011
Publication date	Nov 29, 2022
Grant date	Nov 29, 2022

Abstract

A financial transaction method includes receiving a request to perform a financial transaction at a financial institution, generating a single-use transaction key for the financial transaction, and storing at least a first portion of the transaction key in a storage medium. The transaction key is transmitted to a user that requested the financial transaction, and an authorization request including at least a second portion of the transaction key is received from a merchant. The second portion of the transaction key received from the merchant is compared to the first portion of the transaction key to determine if the transaction should be authorized. An authorization message is transmitted to the merchant if the second portion of the transaction key received from the merchant matches the first portion of the transaction key. The financial transaction is funded from an account of the user if the financial transaction is authorized.

First claim

What is claimed is:

1. A financial transaction method, comprising:
receiving, by a computer processor, a request from a user device of a user to perform a financial transaction at a financial institution;
generating, by the computer processor, a first personal identification number (PIN) and a randomly generated single-use transaction key, the randomly generated single-use transaction key comprising an alpha-numeric string that is valid for a limited period of time and lacking a static identifier associated with an account of the user at the financial institution, wherein the first PIN and the single-use transaction key are different;
storing, by the computer processor, at least a first portion of the single-use transaction key in non-transient computer-readable storage medium associated with the computer processor and the first PIN;
transmitting, using the computer processor, the first PIN to the user device that requested the financial transaction;
establishing, by the computer processor, a secure connection with the user device;
receiving, by the computer processor, a first PIN attempt from the user device;
validating, by the computer processor, the first PIN attempt responsive to the first PIN attempt matching the first PIN;
responsive to validating the first PIN, transmitting the single-use transaction key to the user device;
receiving, by the computer processor, an authorization request to conduct a withdrawal from an automated teller machine (ATM), the authorization request comprising at least a portion of the single-use transaction key;
determining whether the received portion of the single-use transaction key matches the stored first portion of the single-use transaction key and the received portion is received before the limited period of time has expired;
responsive to determining the stored and received portions of the single-use transaction key do not match, or that the received portion was not received before the limited period of time has expired:
declining, by the computer processor, the financial transaction; and

transmitting, by the computer processor, a message to the user device identifying the declined financial transaction;
responsive to determining the stored and received portions of the single-use transaction key match, and that the received portion was received before the limited period of time has expired:
transmitting, by the computer processor, an authorized transaction amount to the user device as a transaction validation request;
receiving, at the computer processor, a transaction validation from the user; and
responsive to receiving the transaction validation from the user, transmitting, by the computer processor, an authorization message to the ATM;

generating, by the ATM, an ATM PIN;
receiving, by the ATM and from the user device, an ATM PIN attempt;
determining that the ATM PIN attempt matches the ATM PIN by comparing the ATM PIN attempt to the ATM PIN; and
responsive to determining that the ATM PIN attempt matches the ATM PIN, completing the financial transaction by dispensing, by the ATM, funds.

2. The financial transaction method of claim 1 , further comprising:
establishing, by the computer processor and using Hypertext Transfer Protocol Secure (HTTPS), an encrypted connection with the user device;
receiving, by the computer processor and via the encrypted connection, a username and password; and
authenticating, by the computer processor, the received username and password, and
wherein the request is received via the encrypted connection and from a mobile financial transaction instrument of the user including at least one of a computer or a wireless device.

3. The financial transaction method of claim 1 , wherein the authorization request lacks the static identifier.

4. The financial transaction method of claim 1 , further comprising:
responsive to determining a received second portion of the single-use transaction key does not match the stored first portion of the single-use transaction key or a transaction validation is denied by the user, transmitting, by the computer processor, a message to the ATM declining the financial transaction.

5. The financial transaction method of claim 1 , wherein the stored first portion of the single-use transaction key comprises an alpha-numeric string and a remaining portion of the single-use transaction key comprises one or more characters associated with the financial institution.

6. The financial transaction method of claim 5 ,
wherein the received portion of the single-use transaction key includes the alpha-numeric string.

7. A financial transaction system, comprising:
an automated teller machine (ATM);
one or more processors; and
memory in communication with the one or more processors and storing instructions that, when executed by the one or more processors, cause the system to:
receive a request to perform a financial transaction from a user device associated with a user having an account with a financial institution;
generate, responsive to receiving the request, a first personal identification number (PIN) and a single-use transaction key that comprises an alpha-numeric string that is valid for a limited period of time and lacking a static identifier, wherein the first PIN and the single-use transaction key are different;
store at least a portion of the single-use transaction key and the first PIN in the memory;
transmit the first PIN to a user device associated with the user;
establish a secure connection with the user device;
receive a first PIN attempt from the user device;
determine whether the first PIN attempt matches the first PIN by comparing the first PIN attempt to the first PIN;
responsive to determining the first PIN attempt does not match the first PIN, or that the limited period of time has expired:
decline the financial transaction; and
transmit a message to the user device identifying the declined financial transaction;

responsive to determining the first PIN attempt matches the first PIN:
transmit the single-use transaction key to the user device;
receive an authorization request to conduct a withdrawal from the ATM, the authorization request comprising at least a portion of the single-use transaction key;
determine whether the received portion of the single-use transaction key matches the stored portion of the single-use transaction key and the received portion is received before the limited period of time has expired;
responsive to determining the received and stored portions of the single-use transaction key match, and that the received portion is received before the limited period of time has expired, transmit an authorization message to the ATM causing the ATM to:
generate an ATM PIN;
receive an ATM PIN attempt from the user device;
determine that the ATM PIN attempt matches the ATM PIN by comparing the ATM PIN attempt to the ATM PIN; and
responsive to determining that the ATM PIN attempt matches the ATM PIN, complete the financial transaction by dispensing funds.

8. The financial transaction system of claim 7 , wherein the instructions, when executed by the one or more processors, further cause the system to:
establish, using Hypertext Transfer Protocol Secure (HTTPS), an encrypted connection with the user device;
receive, via the encrypted connection, a username and password;
authenticate the received username and password; and
responsive to the received portion of the single-use transaction key matching the stored portion of the single-use transaction key, transfer funds from the account of the user at the financial institution from the ATM, wherein the request is received via the encrypted connection.

9. The financial transaction system of cl

Assignees

• Wolfs Rudolph Christian
• Pinski David Aaron
• Capital One Services Llc

Inventors

• Wolfs Rudolph Christian
• Pinski David Aaron

Classifications

• G06Q20/401 Primary

  Transaction verification · CPC title

• G06Q20/1085

  involving automatic teller machines [ATMs] · CPC title

• G06Q20/3278

  RFID or NFC payments by means of M-devices · CPC title

• G06Q20/425

  using two different networks, one for transaction and one for security confirmation · CPC title

• G06Q20/385

  using an alias or single-use codes · CPC title