Method and apparatus for authenticating financial transactions

• US 20030149661A1
• Filed: 07/03/2002
• Published: 08/07/2003
• Est. Priority Date: 01/05/2000
• Status: Active Grant

• Current Assignee: Electronic Finger Print Technologies Limited
• Original Assignee: Electronic Finger Print Technologies Limited
• Inventors: Scholz, Kurt Laurence, Mitchell, Colin
• Granted Patent: US 8,090,657 B2
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/4014 Identity check for transactions
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G07C 9/257 electronically G07C9/26 takes precedence
• CPC Class Codes: G07C 9/27 with central registration
• CPC Class Codes: G07F 7/10 together with a coded signal , e.g. in the form of personal identification information, like personal identification number [PIN] or biometric data

Abstract

A system for authentication of financial transactions using a remote terminal includes apparatus for sampling a unique biological identifier of a system user. The system has particular relevance to credit card or other electronic funds transfer transactions whereby the user may complete a transaction over the Internet, or at a merchant'"'"'s remote terminal by using a unique biological identifier in place of the credit card. The unique biological identifier is preferably a finger print which is read by a camera at the personal computer or remote terminal. The image is digitized and forwarded to a clearing house to identify the appropriate account for the required transaction to be processed.

Claims

1. A computer implemented method of authenticating a financial transaction requested by a user using a remote terminal, the method of including the steps of

storing account information in machine readable form, the information relating to one or more financial accounts,

storing identity information relating to each account, the identity information including machine readable information corresponding to a unique biological identifier supplied by at least one individual authorised to access at least one of the accounts,

submission by the user of the user'"'"'s unique biological identifier, and submission of the user'"'"'s transaction request at the remote terminal,

transmission from the remote terminal to a clearing house of the user'"'"'s unique biological identifier and the user'"'"'s transaction request,

a comparison made by the clearing house of the user'"'"'s unique biological identifier with the stored identity information,

if the users unique biological identifier matches any of the stored identity information, then the transaction information is compared with the account to which the biological information relates to ascertain whether the requested transaction is allowable, and

if the transaction is allowable, processing the transaction.

2. A method as claimed in claim 1 wherein the unique biological identifier comprises a fingerprint and the step of the user submitting the user'"'"'s unique biological identifier includes the step of the user placing a selected finger on a transducer supplied at the remote terminal and the remote terminal processing the information from the transducer to derive information relating to the unique biological identifiers.

3. A method as claimed in claim 1 wherein the step of submission of the users unique biological identifier is repeated if the stored identity information does not match the user'"'"'s unique biological identifier.

4. A method as claimed in claim 1 wherein the step of submitting the user'"'"'s unique biological identifier comprises a step of the user holding a selected finger in front of a camera which records a digital image of the finger print.

5. A method as claimed in claim 4 wherein the remote terminal records the display of the camera'"'"'s output and overlays a sketch of where the users finger should be placed on the image, then searches for a finger image to be placed over the sketch, then when the finger is detected, taking a picture of the finger.

6. A method as claimed in claim 5 wherein the picture is compressed and transmitted to the clearing house.

7. A method as claimed in claim 1 wherein the step of submission by the user of the user'"'"'s unique biological identifier and submission of the user'"'"'s transaction request also includes submission of routing information which identifies the clearing house, bank or account issuing entity.

8. A method as claimed in claim 7 wherein the routing information is used by a network to which the remote terminal is connected to direct the unique biological and the transaction request information to the appropriate clearing house.

9. Apparatus for authenticating a financial transaction requested by a user using a remote terminal, the apparatus including

a database having account information in machine readable form, the account information relating to one or more financial accounts

the database also storing identity information relating to each account, the identity information including machine readable information corresponding to a unique biological identifier supplied by at least one individual authorised to access at least one of the accounts

receiving means to receive information from a remote terminal corresponding to the user'"'"'s unique biological identifier and information relating to the user'"'"'s transaction request at the remote terminal,

comparing means to compare the users unique biological identifier with the stored identity information to ascertain the relevant account, and processing means to process the requested transaction.

10. Apparatus as claimed in claim 9 including means to compare the requested transaction with rules relating to the account to establish whether the requested transaction can be validly processed.

11. Apparatus as claimed in claim 9 wherein the remote terminal comprises an EFTPOS machine

12. Apparatus as claimed in claim 9 wherein the remote terminal comprises a personal computer and the apparatus is provided in communication with the internet or another computer network.

13. A bank card, such as a credit card, eftpos card or the like, including a series of digits on the card, the digits including information to enable identification of a clearing house relating to an account which the owner of the card in use has authorisation to access, and there being no identification information on the card regarding the identity of the user or the identity of the actual account or accounts which the user is authorised to access.

14. Any novel feature or combination of features disclosed herein.