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Method and apparatus of providing enhanced authentication and security for financial institution transactions

  • US 10,373,246 B1
  • Filed: 12/06/2011
  • Issued: 08/06/2019
  • Est. Priority Date: 12/06/2011
  • Status: Active Grant
First Claim
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1. A method of authenticating a user transaction, the method comprising:

  • receiving, via an authenticating computing device, first user authentication information of a first type from a user during the user transaction;

    receiving, via a receiver of an authenticating computing device, and from a mobile device of the user, second user authentication information, of a second type different than the first type, during the user transaction;

    confirming, via a processor, the second user authentication information is correct;

    performing at least one of triangulation and global positioning via communication with a base station communicating with the mobile device to determine a current location of the mobile device;

    comparing the location of the mobile device to a known location of an entity associated with the user transaction;

    identifying a plurality of location positions of the mobile device prior to the user transaction;

    logging the plurality of location positions of the mobile device by periodically updating location information of the mobile device in a location database over a predetermined amount of time prior to the user transaction;

    comparing the plurality of location positions of the mobile device to the known location of the entity associated with the user transaction;

    performing, via the authenticating computing device, a first authentication of the user transaction based on the first user authentication information; and

    performing, via the authenticating computing device, a second authentication of the user transaction based on the second user authentication information, wherein the second user authentication information includes information identifying a current location of the mobile device with respect to at least one of the plurality of location positions, wherein,in response to the first authentication being successful and the second authentication indicating that the at least one of the plurality of location positions of mobile device are within a predetermined distance of the known location of the entity associated with the user transaction, then remotely controlling a first level of access granted to the user for the user transaction, andin response to the first authentication being successful and the second authentication not indicating that the at least one of the plurality of location positions of mobile device are within a predetermined distance of the known location of the entity associated with the user transaction, then remotely controlling a second level of access, less than the first level of access, is granted to the user for the user transaction.

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