Channel-Bound Transaction Authentication for Communication Compliance
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Solution Overview
Problem
Personal communication devices face vulnerabilities to identity theft and challenges in maintaining compliance and record-keeping of business communications due to fragmented channels and imperfect authentication methods, especially when devices are misplaced or accessible to others.
Innovation Solution
A system and method that stores authentication factors for entities on a computer system, sends messages over specified communication channels with indicia for authentication, receives verification information, and authorizes transactions only if the stored factors match the provided information, with optional auditing for compliance and record-keeping.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If authentication techniques are performed by external out-of-band communication, then authentication security is improved, but device complexity and operational burden increase
Solution Approach 1:
The patent combines authentication factors with communication channels by storing associations between authentication factors and communication channel endpoints. This allows the authentication process to be integrated into the communication flow itself, eliminating the need for separate out-of-band authentication steps while maintaining security.
Solution Approach 2:
The system uses communication channel endpoints (such as email addresses, telephone numbers, instant messaging addresses) as both the communication interface and the authentication mechanism. These endpoints serve dual purposes: they are the means of communication and also the basis for verifying user identity, reducing the need for separate authentication systems.
2Adaptability or versatility
If multiple communication channels are used for business communications, then communication versatility is improved, but compliance and record keeping difficulty increase
Solution Approach 1:
The system automatically generates and sends confirmatory messages back to communication channel endpoints after transactions occur. This feedback mechanism creates an automatic audit trail that can be used for compliance purposes, eliminating the need for manual record-keeping across multiple channels while maintaining communication versatility.
Solution Approach 2:
The system pre-establishes associations between authentication factors and communication channel endpoints before communications occur. This preliminary setup enables automatic authentication and record-keeping to be performed without manual intervention during the communication process, simplifying compliance across multiple channels.
3Loss of information
If confirmatory emails are sent voluntarily between participants, then record keeping is improved, but timeliness and scalability in robust settings deteriorate
Solution Approach 1:
The system automatically sends confirmatory messages to communication channel endpoints without requiring manual intervention from participants. The authentication and confirmation process is performed autonomously by the system itself, eliminating delays associated with manual email composition and sending while ensuring complete communication records are maintained.
Data Source
AI summary
There is provided a method, system and computer readable medium for authorising a transaction over a communication channel. An association between at least one authentication factor for an entity and a specified communication channel having an endpoint accessible to the entity is stored. A message from a communications module of the computer system is sent over the specified communication channel to the endpoint including or updated with indicia indicating that authentication is required. Information for comparison with the at least one authentication factor for the entity associated with the specified communication channel is received at the computer system. The transaction is authorised if the stored at least one authentication factor for the entity associated with the specified communications channel matches the information provided from the endpoint.