Customer-Controlled Account Authorization System
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Solution Overview
Problem
Current credit and debit card systems face issues with false positives during transaction authorization, leading to legitimate transactions being declined and fraudulent transactions being approved, due to reliance on centralized rules that do not account for customer-defined security parameters.
Innovation Solution
Implementing a customer-controlled account system where account holders can set and manage their own security parameters, allowing enhanced control over transaction authorization based on both institutional and customer-defined rules, thereby reducing false positives and enhancing security.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If centralized rules are used for transaction authorization, then system simplicity is maintained, but false positives increase and security effectiveness decreases
Solution Approach 1:
The authorization system is segmented into two independent rule sets: centralized institutional rules and decentralized customer-controlled rules. Each rule set operates autonomously but both must be satisfied for transaction approval, creating a layered security architecture that improves reliability without requiring complete system redesign
Solution Approach 2:
The patent introduces customer-defined parameters as an intermediary layer between the centralized authorization system and the transaction request. These customer-controlled rules act as a mediator that filters transactions before they reach the centralized system, reducing false positives while maintaining system simplicity
2Reliability
If customer-controlled parameters are implemented, then false positives are reduced and security is enhanced, but system complexity increases
Solution Approach 1:
The system implements local quality by allowing each customer to define their own specific authorization parameters tailored to their individual risk tolerance and spending patterns. Each customer's account has customized rules (e.g., specific merchants, amount thresholds, time restrictions) rather than applying uniform controls, which reduces false positives for legitimate transactions while maintaining security
Solution Approach 2:
Customers pre-define their authorization parameters and rules in advance before any transaction occurs. This preliminary action allows the system to automatically evaluate transactions against customer-specified criteria without requiring real-time customer intervention, reducing false positives while keeping the control structure manageable
3Adaptability or versatility
If traditional authorization systems are used, then ease of operation is maintained, but customer control over security parameters is limited
Solution Approach 1:
The system transitions from static, issuer-defined authorization rules to dynamic, customer-adjustable parameters. Customers can modify their authorization parameters in real-time based on changing needs and risk assessments, allowing the system to adapt to different situations while maintaining ease of operation through standardized interfaces
Data Source
AI summary
Access devices like credit cards and/or check cards have enhanced security features that allow a customer to control circumstances under which their account is accessed. Fraudsters may try to access the account without the knowledge of the consumer set controls, the system takes remedial action with reduced instances of false positives. An account is established for an account holder through a central entity, e.g. an issuer. At least one user is associated with the access device that is established for one or more transactions. Use of the access devices is defined by a set of rules defined by the central entity and are controllable by the customer, including comprising any of the account holder and the user of the account. The customer inputs, controls, and/or updates parameters associated with the customer-controllable rules. Subsequent authorization of the access devices is controlled based on the customer input and other controls.