Mobile transaction device security system

US8195576B1 · kind B1 · utility

Assignee

• Bank of America Corporation · US

Inventors

• David M. Grigg · Rock Hill, US
• Patrick B. Kelly · Boerne, US
• Alicia C. Jones · Fort Mill, US
• Marc B. Keller · Charlotte, US

Key dates

• Filing date: Jan 31, 2011
• Grant date: Jun 5, 2012
• Expiry date: Jan 31, 2031

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q20/40145
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Embodiments of the invention include apparatuses, methods, and computer-program products that provide for a unique financial transaction security system. In one embodiment, the financial transaction security system receives a security protocol from a user. The security protocol includes instructions for allowing transactions without authentication and security features for the user if authentication is necessary. The system then determines that the user is conducting a transaction, compares the transaction to the instructions, and determines whether the transaction can occur without authentication. If the user is required to authenticate his identity, the system requests input from the user, compares the input to the security feature, and determines if the user is authenticated. The user is able to customize both the instructions and the security features to provide greater control over financial transaction security.