Methods and systems for identity authentication

• US 7,945,511 B2
• Filed: 11/03/2006
• Issued: 05/17/2011
• Est. Priority Date: 02/26/2004
• Status: Active Grant

• Current Assignee: Intercontinental Exchange Holdings, Inc. (Intercontinental Exchange, Inc.)
• Original Assignee: Payment Pathways Incorporated
• Inventors: O'Brien, Richard J., Gallant, Andrew M., Condon, John T., Firfer, Jordan S., Buettner, Lawrence F.
• Primary Examiner(s): CHEUNG, MARY DA ZHI WANG
• Application Number:
  US11/592,510
• Publication Number:
  US 20070106612A1
• Time in Patent Office: 1,656 Days
• Field of Search: 705/35, 705 39- 44, 705/53, 705/64, 705/67, 705 70- 79, 725/5, 902 8- 24
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/023 the neutral party being a clearing house
• CPC Class Codes: G06Q 20/04 Payment circuits
• 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 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

The Greenlist tool provides payors desiring to pay a merchant a means to locate, validate and effect the transfer of assets to another party by routing transaction requests to a third party that functions as the transaction enabler. This task is performed without divulging confidential information about transactors while assigning liability for certain risk consequences to the lowest cost risk bearers: banks. Greenlist verifies identities before making financial transactions or before obtaining access to restricted information. The Greenlist can be completely trusted by risk-bearers. Liability for risk can be transferred to the registrars of the information contained within the registry. This liability transfer substantially reduces the payor'"'"'s cost of bearing risks. Banks or third parties responsible for certifying that someone or some entity claiming to be an authorized party is not an impostor can now offer new levels of service at a substantially lower cost for a variety of transactions.

Claims

1. A system comprising:

a first bank computer at a first bank, linked via a computer network to a payor'"'"'s computer and a directory computer, said payor having at least one account at said first bank and having been authenticated to said first bank computer;

wherein said directory computer is configured to maintain a first database of authenticated registrant information comprising authenticated information for a payee identifying via a publicly available identifier at least one linked credit account of said payee and to provide a portion of said first database via said computer network to said bank computer said portion comprising said authenticated information for said payee;

wherein said first bank computer is configured to maintain a second database comprising data from said portion of said first database;

wherein said first bank computer is configured to receive payment information from said payor computer identifying said payee via said registrant information, map said information identifying said payee to said linked credit account of said payee using said portion of said first database and said registrant information, and transmit a payment directly from said payor'"'"'s at least one account at said first bank to said payee'"'"'s linked credit account located at a second bank, without using an intermediary to transfer said payment; and

wherein said second bank is obligated to reimburse said first bank for said payment if said payment information identifying said payee is inaccurate.

2. A system comprising:

a first bank computer at a first bank linked via a computer network to a sender'"'"'s computer and a directory computer, said sender having at least one asset account at said first bank and having been authenticated to said first bank computer;

wherein said directory computer is configured to maintain a first database of authenticated registrant information comprising authenticated information for a receiver identifying via a publicly available identifier at least one linked account of said receiver and to provide a portion of said first database via said computer network to said bank computer, said portion comprising said authenticated information for said receiver;

wherein said first bank computer is configured to maintain a second database comprising data from said portion of said first database;

wherein said first bank computer is configured to receive information from said sender computer identifying said receiver via said registrant information, map said information identifying said receiver to said at least one linked account of said receiver using said portion of said first database and said registrant information, and implement an asset transfer directly from said sender'"'"'s at least one account at said first bank to said receiver'"'"'s at least one linked account located at a second bank, without using an intermediary to implement said asset transfer; and

wherein said second bank is obligated to reimburse said first bank for said asset if said information from said sender computer identifying said receiver is inaccurate.

3. The system of claim 2. wherein said first bank is a licensee of said directory computer.

4. The system of claim 2, wherein said linked account is an identifier, encodable as a URN, of said receiver.

5. The system of claim 2, wherein said information identifying said receiver comprises information identifying said receiver.

6. The system of claim 2, wherein said asset transfer actually transfers an asset or transfers ownership thereof from said sender to said receiver.

7. The system of claim 2, wherein said asset is a payment or financial instrument.

8. The system of claim 2, wherein said asset is a digital construct.

9. The system of claim 2, wherein said asset is one or more physical objects.

10. The system of claim 2, wherein said asset is information, right or access permission.

11. The system of claim 2, wherein said linked credit account is a deposit only account.