Method and system for managing account information

• US 7,983,979 B2
• Filed: 03/10/2006
• Issued: 07/19/2011
• Est. Priority Date: 03/10/2005
• Status: Active Grant

• Current Assignee: Debix One Incorporated
• Original Assignee: Debix One Incorporated
• Inventors: Holland, James Richard IV
• Primary Examiner(s): Kramer; James A
• Assistant Examiner(s): LEMIEUX, JESSICA
• Application Number:
  US11/373,551
• Publication Number:
  US 20060204051A1
• Time in Patent Office: 1,957 Days
• Field of Search: 705/37
• US Class Current: 705/37
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/227 characterised in that multiple accounts are available, e.g. to the payer
• 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 20/4014 Identity check for transactions
• CPC Class Codes: G06Q 20/42 Confirmation, e.g. check or permission by the legal debtor of payment
• CPC Class Codes: G06Q 20/425 using two different networks, one for transaction and one for security confirmation
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G07C 9/23 by means of a password
• CPC Class Codes: G07C 9/257 electronically G07C9/26 takes precedence

Abstract

A method and system for authenticating the identity of a consumer is disclosed. After the consumer is authenticated by a trusted third party, the consumer designates accounts that the consumer wishes to “lock.” When a party requests access to that account, the consumer is notified through the consumer'"'"'s phone and asked to input a PIN. If the consumer provides the PIN, the requestor is granted access to the consumer'"'"'s account without requiring further input from the consumer. If the party authorizing the transaction in this “two-factor” authentication does not possess both the phone and the consumer'"'"'s PIN, or that party elects not to provide the PIN, the request will not be authenticated.

Claims

1. A method for establishing a credit account comprising:

receiving initial information from a consumer sufficient to permit a trusted third party to establish said consumer as a subscriber of said trusted third party'"'"'s services;

establishing said consumer as a subscriber of said trusted third party, wherein the number for accessing a communication device of said subscriber is retained on one or more hardware devices by said trusted third party;

said subscriber requesting a credit account from an account provider;

said account provider contacting a credit bureau and requesting said subscriber'"'"'s credit file;

said credit bureau providing said account provider with said subscriber'"'"'s credit file containing contact information for said trusted third party and identifying information for said subscriber;

said account provider requesting authorization from said trusted third party to open said subscriber'"'"'s account;

said trusted third party contacting said subscriber on said subscriber'"'"'s communication device;

said subscriber providing said trusted third party with confirmation that said subscriber desires said account provider to be provided access to said credit file; and

said trusted third party authorizing said account provider to proceed in opening said account on behalf of said subscriber.

2. The method of claim 1, wherein said account provider is a provider of telephony services.

3. The method of claim 1, wherein said communication device is a cellular telephone.

4. The method of claim 1, wherein said subscriber must be located in said subscriber'"'"'s home calling area.

5. The method of claim 1, wherein said initial information provided by said subscriber to said trusted third party is provided from a device separate from said subscriber'"'"'s communication device.

6. The method of claim 1, wherein said subscriber providing said trusted third party with confirmation is accomplished through the entry of a personal identification number on said subscriber'"'"'s communication device.