Centralized Identity Verification Across Disparate Channels
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Solution Overview
Problem
Current identity verification processes for users in financial transactions are limited to a single channel, which increases the risk of fraud and reduces customer satisfaction by requiring multiple information requests across different channels.
Innovation Solution
A system that aggregates information from multiple disparate channels to calculate a risk score and generate a token for user authentication, allowing enterprises to share data across channels and simplify the verification process.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If information is gathered through a single channel, then the verification process is simple, but the fraud risk increases and customer satisfaction decreases
Solution Approach 1:
The patent combines information from multiple disparate channels (call center, online banking, mobile banking, ATM) into a unified verification system. The centralized server aggregates data across these channels to create a comprehensive view of user behavior, enabling more reliable fraud detection without requiring separate verification processes for each channel
Solution Approach 2:
The verification system is designed to work across multiple communication channels and transaction types universally. The same risk scoring and challenge question mechanisms apply whether the user interacts through call center, online banking, mobile banking, or ATM, creating a multi-functional verification platform that adapts to different channels
2Reliability
If information is requested multiple times across different channels, then each channel can verify independently, but customer satisfaction decreases due to redundant requests
Solution Approach 1:
The system merges information gathering across all channels into a single centralized process. Once information is collected through any channel, it is stored and shared system-wide, eliminating the need to request the same information multiple times across different channels while maintaining comprehensive verification
Solution Approach 2:
The system implements feedback loops where verification results and user information collected through one channel immediately feed into the centralized system, allowing subsequent channels to leverage previously collected data. This creates a continuous feedback mechanism that improves verification accuracy while reducing redundant customer input
3Device complexity
If data is not shared across channels, then each channel operates independently, but fraud risk increases due to limited information availability
Solution Approach 1:
The patent implements a centralized data aggregation system that merges information from all disparate channels into a unified repository. This allows the system to leverage comprehensive user behavior data across channels to detect fraud patterns that would be invisible when examining single-channel data in isolation
Solution Approach 2:
While merging data centrally, the system segments the analysis by creating channel-specific views and risk assessments. The centralized server can evaluate overall user risk while also providing channel-specific intelligence, allowing independent optimization of each channel's verification approach based on aggregated insights
Data Source
AI summary
According to certain embodiments of the disclosure, a system receives a request from a user device to conduct an activity with an enterprise and determines an authentication level associated with the activity. The system receives information associated with the user from a plurality of disparate channels and calculates a risk score associated with the user based on the received information associated with the user. The system generates a token based on the authentication level and risk score and communicates the token to the user device.