Electronic transaction security system

• US 9,094,209 B2
• Filed: 10/05/2010
• Issued: 07/28/2015
• Est. Priority Date: 10/05/2009
• Status: Active Grant

• Current Assignee: Miri Systems LLC
• Original Assignee: Miri Systems LLC
• Inventors: Zon, Ludwik F., Sandstrom, Ronald W.
• Primary Examiner(s): BROWN, CHRISTOPHER J
• Application Number:
  US12/898,595
• Publication Number:
  US 20110247062A1
• Time in Patent Office: 1,757 Days
• Field of Search: 713/184, 705 64- 79
• US Class Current: 1/1
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/385 using an alias or single-use codes
• CPC Class Codes: G06Q 20/401 Transaction verification
• CPC Class Codes: G06Q 20/4012 Verifying personal identification numbers [PIN]
• CPC Class Codes: G06Q 20/4018 using the card verification value [CVV] associated with the card
• CPC Class Codes: H04L 2209/56 Financial cryptography, e.g. electronic payment or e-cash
• CPC Class Codes: H04L 2209/80 Wireless
• CPC Class Codes: H04L 2209/88 Medical equipments
• CPC Class Codes: H04L 9/3226 using a predetermined code, e.g. password, passphrase or PIN network architectures or network communication protocols for supporting authentication of entities using passwords in a packet data network H04L63/083
• CPC Class Codes: H04W 12/06 Authentication
• CPC Class Codes: H04W 12/08 Access security
• CPC Class Codes: H04W 12/61 Time-dependent

Abstract

A system and method for generating a limited use login credential associated with an account maintained by an institution, where the credential facilitates secure access to the account.

Claims

1. A method for providing access to an account that is maintained by a financial institution, where the financial institution associates the account with a user, an account number, a validation number the financial institution requires to be supplied by the user to allow the user access to the account, and an identifier that distinguishes the account from other accounts maintained by the financial institution, and where the account number comprises, in a predetermined format, a bank identification number associated with the financial institution and a number that identifies the account, the method comprising the steps of:

generating by a mobile device a login credential having a same number of digits as the account number and being different from the account number, wherein the login credential comprises the validation number;

transmitting the login credential from the mobile device to a server maintained by the financial institution via a wide area network;

transmitting the identifier from the mobile device to the server via the wide area network; and

in response to confirmation by the financial institution that the validation number in the login credential received by the financial institution from the first transmitting step is associated with the account, interacting with the account from the mobile device via the wide area network and the server.

2. The method as in claim 1, wherein, at the generating step, the login credential comprises the bank identification number, wherein the first and second transmitting steps are distinct from each other, and wherein the identifier comprises a username and password associated by the financial institution with the user.

3. The method as in claim 1, wherein, at the generating step, the login credential comprises the identifier in place of the bank identification number in the predetermined format, and wherein the first and second transmitting steps occur simultaneously upon transmitting the login credential.

4. The method as in claim 1, comprising, prior to the generating step, providing to the mobile device a desired expiration date through which the login credential is valid to permit interaction with the account.

5. The method as in claim 4, wherein the login credential includes a number that corresponds to the expiration date.

6. A method for providing access to an account that is maintained by a financial institution, where the financial institution associates the account with a user, an account number, a validation number the financial institution requires to be supplied by the user to allow the user access to the account, and an identifier that distinguishes the account from other accounts maintained by the financial institution, and where the account number comprises, in a predetermined format, a bank identification number associated with the financial institution and a number that identifies the account, the method comprising the steps of:

receiving from a mobile device, at a server maintained by the financial institution via a wide area network, a login credential having a same number of digits as the account number and being different from the account number, wherein the login credential comprises the validation number;

receiving from the mobile device, at the server via the wide area network, the identifier;

at the server, confirming that the validation number in the login credential received at the server is associated with the account; and

permitting interaction with the account from the mobile device via the wide area network and the server.

7. The method as in claim 6, wherein the login credential comprises the bank identification number, wherein the first and second receiving steps are distinct from each other, and wherein the identifier comprises a username and password associated by the financial institution with the user.

8. The method as in claim 6, wherein the login credential comprises the identifier and in place of the bank identification number in the predetermined format, and wherein the first and second receiving steps occur simultaneously upon receiving the login credential.

9. The method as in claim 6, wherein the login credential includes a number that corresponds to an expiration date through which the login credential is valid to permit interaction with the account.