Authentication methods for use in financial transactions and information banking

US8028896B2 · kind B2 · utility

Assignee

• Bank of America Corporation · US

Inventors

• Samuel J. Carter · Winston-Salem, US
• Ray Garcia · Buena Park, US
• David Joa · Irvine, US
• David N. Joffe · Charlotte, US
• John Mertz · Evanston, US
• Zoran Obradovic · Chicago, US
• Hans Dirk Schumacher · Matthews, US

Key dates

• Filing date: Jul 15, 2008
• Grant date: Oct 4, 2011
• Expiry date: May 12, 2029

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q99/00
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method for conducting a financial transaction can be used by a person using a mobile device to conduct the transaction. The mobile device receives information related to the person that can be used for authentication purposes, such as a PIN or biometric data. The mobile device then authenticates the person by verifying the information received. If the person is authenticated, the transaction is completed using the mobile device, and if the person is not authenticated, the transaction is prevented.