System and method for verification, authentication, and notification of a transaction

  • US 20040078340A1
  • Filed: 01/30/2003
  • Published: 04/22/2004
  • Est. Priority Date: 02/04/2002
  • Status: Active Grant
First Claim
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1. A system that establishes at least one communication with and/or to at least one party identified as engaging in or having an interest or potential interest in a transaction, using at least one communication device associated with said at least one party, to notify said at least one party of said transaction and/or to authenticate and verify said at least one party'"'"'s identity and intentions regarding said transaction, comprised of:

  • a) One or more computing elements which receive data regarding said transaction, said computing elements having one or more central processors that execute programmed instructions, one or more memories for storing programmed instructions to be executed and storing interim and/or terminal values related to the execution of said programmed instructions, and non-volatile storage for storing other data received, obtained, or generated by the inventive system in the course of its operation;

    b) One or more logical and/or physical communications-related processing elements connected to or embedded within said one or more computing elements, comprised of;

    i. An application programming interface means;

    ii. At least one processor;

    iii. At least one memory for storing a plurality of programmed instructions to be executed and storing interim and/or terminal values related to the execution of said programmed instructions;

    iv. Programmed instructions residing in said at least one memory which when executed by said at least one processor perform the steps of initiating, maintaining, controlling, logging, and/or terminating communications over at least one communications link with and/or to at least one communications device, and v. At least one logical and/or physical communications port enabling said communications. c) A plurality of programmed instructions residing in said one or more memories and said at least one memory, which cause said one or more computing elements and said one or more logical and/or physical communications-related processing elements to perform the steps of;

    i. Accept incoming information about a transaction from an external source involved in or relating to the processing of said transaction;

    ii. Generate derivative information about said transaction based on any or all of the following content found to have been included or encoded in said incoming information;

    1. Identity-related information, such as account numbers or other identifiers, of at least one party identified thereby as engaged in or having an interest or a potential interest in said transaction;

    2. A plurality of other parameters regarding the transaction, which may include parameters that define or guide the behavior of said one or more computing elements and/or said one or more logical and/or physical communications-related processing elements;

    iii. Communicate with and/or to at least one party identified in said incoming information and/or in said derivative information as engaged in or having an interest or potential interest in said transaction, by establishing or utilizing at least one communications link with and/or to at least one communication device whose communications address is associated with said at least one party through said incoming information and/or said derivative information;

    iv. Deliver at least one message to said at least one party using said at least one communications link, wherein the contents of said at least one message are based on said incoming information and/or said derivative information, and v. Generate or look up result information based on said incoming information and/or said derivative information and/or the outcomes of said communications.

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