Identity verification switch
First Claim
1. A method comprising:
- electronically receiving at an electronic identity verification switch system from an inquirer a request to verify an identity of an individual initiating a transaction, the request including a plurality of data elements representing account information for an account subject to the transaction and identity information for the individual initiating the transaction;
selecting, with the electronic identity verification switch system and based on the request, a verifying financial institution from one or more participating financial institutions;
electronically forwarding the request from the electronic identity verification switch system to the verifying financial institution, wherein the verifying financial institution verifies the account information and the identity information of the request against data electronically stored by the verifying financial institution;
electronically receiving at the electronic identity verification switch system from the verifying financial institution an answer including results of verification for each of the plurality of data elements of the request, wherein the answer comprises a plurality of data elements corresponding to the plurality of data elements of the request, wherein the answer comprises a separate indication for each data element of whether each data element is verified against data electronically stored by the verifying institution;
electronically returning the answer from the electronic identity verification switch system to the inquirer, wherein the inquirer assesses the individual data elements in the answer to determine the risk of completing the transaction;
in response to the determined risk being accepted by the inquirer, the inquirer successfully completing the transaction;
in response to the determined risk being unaccepted by the inquirer, the inquirer canceling the transaction; and
in response to the determined risk being uncertain by the inquirer, the inquirer requesting additional data elements of the account information or identity information and the inquirer determining whether the additional data elements create an accepted or unaccepted risk, in order to complete the transaction or cancel the transaction, accordingly.
3 Assignments
0 Petitions
Accused Products
Abstract
Methods, systems, and machine-readable media are disclosed for an identity verification switch. According to one embodiment, the method comprises receiving from an inquirer a request to verify an identity of an individual initiating a transaction. The request includes account information for an account subject to the transaction and identity information for the individual initiating the transaction. Based on the request, a verifying financial institution is selected from one or more participating financial institutions. The request is forwarded to the verifying financial institution for verification of the identity information. An answer is received from the verifying financial institution indicating results of verification of the identity information. The answer is returned to the inquirer.
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Citations
14 Claims
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1. A method comprising:
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electronically receiving at an electronic identity verification switch system from an inquirer a request to verify an identity of an individual initiating a transaction, the request including a plurality of data elements representing account information for an account subject to the transaction and identity information for the individual initiating the transaction; selecting, with the electronic identity verification switch system and based on the request, a verifying financial institution from one or more participating financial institutions; electronically forwarding the request from the electronic identity verification switch system to the verifying financial institution, wherein the verifying financial institution verifies the account information and the identity information of the request against data electronically stored by the verifying financial institution; electronically receiving at the electronic identity verification switch system from the verifying financial institution an answer including results of verification for each of the plurality of data elements of the request, wherein the answer comprises a plurality of data elements corresponding to the plurality of data elements of the request, wherein the answer comprises a separate indication for each data element of whether each data element is verified against data electronically stored by the verifying institution; electronically returning the answer from the electronic identity verification switch system to the inquirer, wherein the inquirer assesses the individual data elements in the answer to determine the risk of completing the transaction; in response to the determined risk being accepted by the inquirer, the inquirer successfully completing the transaction; in response to the determined risk being unaccepted by the inquirer, the inquirer canceling the transaction; and in response to the determined risk being uncertain by the inquirer, the inquirer requesting additional data elements of the account information or identity information and the inquirer determining whether the additional data elements create an accepted or unaccepted risk, in order to complete the transaction or cancel the transaction, accordingly. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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14. A method comprising:
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electronically receiving at an electronic identity verification switch system from an inquirer a request to verify an identity of an individual initiating a transaction, the request including a plurality of data elements representing account information for an account subject to the transaction and identity information for the individual initiating the transaction; selecting, with the electronic identity verification switch system and based on the request, a verifying financial institution from one or more participating financial institutions; electronically forwarding the request from the electronic identity verification switch system to the verifying financial institution, wherein the verifying financial institution verifies the account information and the identity information of the request against data electronically stored at the verifying institution; electronically receiving at the electronic identity verification switch system from the verifying financial institution an answer including results of verification for each of the plurality of data elements of the request, wherein the answer comprises a plurality of data elements, each of the plurality of data elements in the answer corresponding to one of the plurality of data elements in the request, wherein the answer comprises a separate indication for each data element of whether each data element is verified against data electronically stored at the verifying institution; electronically returning the answer, including each of the corresponding data elements in the answer, from the electronic identity verification switch system to the inquirer, wherein the inquirer assesses the individual data elements in the answer to determine the risk of completing the transaction; in response to the determined risk being acceptable to the inquirer, the inquirer successfully completing the transaction; in response to the determined risk being unacceptable to the inquirer, the inquirer canceling the transaction; and in response to the determined risk being uncertain to the inquirer, the inquirer requesting additional data elements of the account information or identity information and the inquirer determining whether the additional data elements create an acceptable or unacceptable risk, in order to complete the transaction or cancel the transaction, accordingly.
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Specification