IoT Transaction Proxy Service Using Behavioral Biometrics
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Solution Overview
Problem
Users of payment systems often lack time for mundane financial transactions and trusting others to conduct these transactions can lead to identity theft and fraud, breaking trust between users and transaction handlers.
Innovation Solution
A transaction-by-proxy service that utilizes Internet-of-Things (IoT) devices to make financial transactions on behalf of users based on their behavior-related patterns, eliminating the need for direct user approval through a transaction-by-proxy model generated by analyzing user behavior data.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If users directly approve each transaction, then transaction security is improved, but user time and efficiency deteriorate
Solution Approach 1:
The system enables autonomous transaction execution by IoT devices using pre-authorized transaction templates. Users configure transaction parameters once (merchant, amount limits, conditions), and the system automatically executes transactions without requiring continuous user approval, thus resolving the contradiction between security and time consumption.
Solution Approach 2:
Users perform preliminary authorization by setting up transaction templates with predefined parameters and limits before actual transactions occur. This advance preparation allows rapid automated execution while maintaining security controls, eliminating the need for real-time user approval of each transaction.
2Loss of time
If users trust others to conduct transactions on their behalf, then user time is improved, but fraud risk increases
Solution Approach 1:
The patent introduces an automated intermediary system that acts between the user and the transaction execution. This system uses behavioral biometrics and transaction templates to mediate transactions autonomously, eliminating the need for users to trust external parties while maintaining security through automated verification and predefined authorization limits.
Solution Approach 2:
The system continuously monitors transaction behavior using behavioral biometrics and compares actual transactions against predefined templates and user behavior patterns. This real-time feedback mechanism detects anomalies and prevents fraudulent transactions, allowing users to save time while maintaining security through automated oversight.
3Productivity
If automated transaction systems are implemented, then transaction efficiency is improved, but trust between users and systems deteriorates
Solution Approach 1:
The system empowers users with full control over their transaction automation through configurable templates, behavioral biometric monitoring, and real-time oversight capabilities. Users can review, modify, or terminate automated transactions at any time, maintaining trust while achieving efficiency through automation.
Solution Approach 2:
The system provides continuous feedback to users through behavioral biometric analysis, transaction monitoring, and anomaly detection. Users receive notifications and can review system decisions, maintaining transparency and trust while enabling efficient automated transaction execution.
Data Source
AI summary
A computer-implemented method includes registering a user device and an internet-of-things (IOT) device for use in a transaction-by-proxy service; collecting behavior-related data associated with a user of the user device and the first IOT device; and using the behavior-related data as part of the transaction-by-proxy service to generate a transaction-by-proxy at the IOT device on behalf of the user of the user device. The computer-implemented method further includes generating a transaction-by-proxy model using the behavior-related data associated with the user and training the transaction-by-proxy model to determine whether to request the transaction-by-proxy.