SYSTEM AND METHOD FOR USER IDENTITY VALIDATION FOR ONLINE TRANSACTIONS
First Claim
Patent Images
1. A system, comprising:
- an online merchant engine operable to;
accept a request for a transaction initiated by an individual online;
request for authentication of information of the individual required to complete the transaction;
a risk management engine operable to;
determine risk of identity fraud for the transaction;
a third-party validation engine operable to;
request for validation of identity of the individual if the risk of fraud is high;
request and provide an insurance policy covering the transaction to the online merchant engine if the identity of the individual is approved;
a credit reporting engine operable to validate the identity of the individual based on certain information of the individual provided by the validation engine;
an insurance engine operable to issue the insurance policy covering the transaction automatically if the identity of the individual is approved.
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Accused Products
Abstract
A process is proposed that collects minimal personal data of an individual who is conducting a transaction online, either directly or from a third party. The data collected is then matched to a known and validated public profile stored in public and private databases, and a set of Knowledge Based Authentication (KBA) questions are generated from the identified databases and presented to (e.g., displayed or read to via computer generated voice) the consumer for validation of the consumer'"'"'s identity. Once the individual'"'"'s identity has been validated, the online transaction by the person can then be authorized.
444 Citations
27 Claims
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1. A system, comprising:
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an online merchant engine operable to; accept a request for a transaction initiated by an individual online; request for authentication of information of the individual required to complete the transaction; a risk management engine operable to; determine risk of identity fraud for the transaction; a third-party validation engine operable to; request for validation of identity of the individual if the risk of fraud is high; request and provide an insurance policy covering the transaction to the online merchant engine if the identity of the individual is approved; a credit reporting engine operable to validate the identity of the individual based on certain information of the individual provided by the validation engine; an insurance engine operable to issue the insurance policy covering the transaction automatically if the identity of the individual is approved. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17)
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18. A system, comprising:
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an online merchant engine operable to; accept a request for a transaction initiated by an individual online; request for authentication of information of the individual required to complete the transaction; a risk management engine operable to; determine risk of identity fraud for the transaction; a third-party validation engine operable to; request for validation of identity of the individual if the risk of fraud is high; approve or decline the transaction based on validation result of the identity of the individual; a credit reporting engine operable to validate the identity of the individual based on certain information of the individual provided by the validation engine.
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19. A method, comprising:
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accepting a request for a transaction initiated by an individual online over a network; authenticating information provided by the individual for the transaction; validating identity of the individual if high risk for fraud exists; completing or declining the transaction based on validation result of the identity of the individual; issuing and providing an insurance certificate covering one or more transactions for which the identity of the individual involved is validated. - View Dependent Claims (20, 21, 22, 23, 24, 25, 26)
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27. A system, comprising:
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means for accepting a request for a transaction initiated by an individual online over a network; means for authenticating information provided by the individual for the transaction; means for validating identity of the individual if high risk for fraud exists; means for completing or declining the transaction based on validation result of the identity of the individual.
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Specification