Dynamic Identity Verification via Transaction-Based Challenges
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Solution Overview
Problem
Current identity verification mechanisms are vulnerable to fraud as they rely on static questions that can be easily researched and answered by fraudsters, leading to potential impersonation, especially with the increased use of digital engagement channels.
Innovation Solution
A multiple-point cognitive identity challenge system that generates dynamic questions based on recent user transactions, utilizing a game-theory model to randomize question sources, sequences, and scoring approaches, incorporating biometrics and voice analysis to verify user identity.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If static identity validation questions are used, then the verification process is simple and easy to operate, but the security reliability deteriorates because fraudsters can easily research and answer these questions
Solution Approach 1:
The patent transforms static identity validation questions into dynamic questions that are generated in real-time based on the user's transaction history. The questions change with each verification attempt and are tailored to the specific user's recent activities, making them unpredictable and impossible to pre-research, while maintaining ease of operation through automated generation and presentation
Solution Approach 2:
The system changes the parameters of the verification questions by selecting different transaction types, time frames, and question formats dynamically. Instead of using fixed questions, the system varies the parameters such as transaction date ranges, amount thresholds, and merchant categories to create unique verification challenges for each user session
2Reliability
If dynamic transaction-based questions are used, then the security reliability improves by preventing fraud, but the device complexity increases due to the need for transaction data processing and game-theory modeling
Solution Approach 1:
The system performs preliminary actions by continuously collecting and storing transaction data in advance, organizing it into structured formats with predefined categories and time frames. This pre-processing of transaction data eliminates the need for complex real-time analysis during verification, as the data is already prepared and indexed for quick retrieval and question generation
Solution Approach 2:
The system incorporates feedback mechanisms where the user's responses to verification questions are analyzed and fed back into the transaction data model. This feedback loop allows the system to learn from verification attempts and adjust future question generation strategies, improving security over time while maintaining manageable system complexity through iterative refinement rather than complex upfront design
3Measurement precision
If multiple transaction sources are scanned, then the measurement precision of user identity verification improves, but the loss of time increases due to scanning multiple data sources
Solution Approach 1:
The patent segments the transaction data sources into distinct categories such as purchase transactions, bill payments, transfers, and deposits, with each segment stored in separate indexed structures. This segmentation allows the verification system to quickly retrieve relevant transaction data from specific segments based on the user's profile and risk assessment, rather than scanning all transaction data uniformly, thus improving verification accuracy while reducing processing time
Data Source
AI summary
A mechanism is provided for verifying an identity of a user using dynamically generated questions based on transactions conducted by the user. Responsive to receiving a request to verify the identity of the user, one or more transaction based sources associated with the user are scanned for a set of transactions conducted by the user within a first predetermined time frame of a current time. A subset of transactions from the set of transactions are randomly selected as the basis for forming a set of questions to be used to verify the identity of the user. The set of questions are generated such that the user is required to identify one or more details about the subset of transactions in order to verify the user's identity. Responsive to the user correctly answering the one or more details about the subset of transactions, the user is authenticated.