Cardless ATM Authentication via Online Credentials and One-Time Passcodes
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Solution Overview
Problem
Financial institutions face challenges in providing customers with convenient and secure access to their accounts, especially when customers do not have a physical banking card or token, as existing systems often require these credentials for authentication.
Innovation Solution
Implementing an account management computing platform that allows customers to access automated teller devices using online banking credentials, such as usernames, passwords, one-time passcodes, and biometrics, providing limited access and enabling features like emergency withdrawals and card reporting without the need for physical cards or PINs.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If physical banking cards or tokens are required for authentication, then security is improved, but convenience deteriorates when customers lose or cannot access their physical cards
Solution Approach 1:
The patent introduces an account management computing platform as an intermediary between the automated teller device and the customer. This platform receives authentication credentials from the customer, validates them, and generates authentication tokens that enable access to the automated teller device without requiring physical cards. The platform acts as a mediator that translates traditional card-based authentication into cardless authentication, resolving the contradiction between maintaining security and improving convenience.
Solution Approach 2:
The patent replaces the mechanical physical card system with an electronic/digital authentication system. Instead of requiring customers to physically insert a card into the automated teller device, the system uses electronic credentials ( usernames, passwords, one-time passcodes) transmitted through a computing platform. This substitution eliminates the need for physical cards while maintaining authentication security, thereby improving convenience without compromising reliability.
2Ease of operation
If online banking credentials are accepted for cardless access, then convenience is improved, but security risks increase due to potential credential compromise
Solution Approach 1:
The account management computing platform performs preliminary authentication and validation of customer credentials before granting access to the automated teller device. The platform verifies usernames, passwords, and one-time passcodes in advance, and only generates authentication tokens for verified credentials. This preliminary action ensures that compromised or invalid credentials cannot be used to access the automated teller device, mitigating security risks while maintaining convenience.
Solution Approach 2:
The patent implements dynamic authentication where the system adapts its security requirements based on the authentication method used. For cardless access using online credentials, the system dynamically requires additional verification steps (such as one-time passcodes) compared to traditional card-based access. This dynamic approach adjusts security measures in real-time to maintain appropriate security levels while enabling convenient cardless access.
3Reliability
If limited access is provided to customers without physical cards, then security is maintained, but functionality is reduced
Solution Approach 1:
The patent implements dynamic access control where the automated teller device and account management platform can adjust the level of access granted based on authentication verification. For customers authenticated through the cardless system, the platform can dynamically enable additional functions beyond basic transactions, such as card replacement services, account management, and higher withdrawal limits, depending on the verification level and customer needs. This dynamic adaptability allows the system to maintain security while providing versatile functionality.
Solution Approach 2:
The account management computing platform serves multiple functions: it authenticates customers, generates authentication tokens, validates credentials, manages cardless access policies, and enables various transaction types. By consolidating these diverse functions into a single universal platform, the system can provide comprehensive service capabilities to cardless customers without compromising security, thereby improving adaptability and versatility while maintaining reliability.
Data Source
AI summary
Methods, systems, and computer-readable media for processing cardless transactions at automated teller devices are presented. In some embodiments, a computer system may receive, from an automated teller device associated with a financial institution, login input comprising one or more online banking credentials associated with a customer of the financial institution. Subsequently, the computer system may validate the login input. If the login input is valid, the computer system may generate a one-time passcode. Then, the computer system may send, to a customer mobile device associated with the customer, the one-time passcode. Thereafter, the computer system may receive, from the automated teller device, passcode input. Subsequently, the computer system may validate the passcode input. If the passcode input is valid, the computer system may generate a customer authentication message. Then, the computer system may send, to the automated teller device, the customer authentication message.