User Authentication via Generated ISO 20022 Messages
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Solution Overview
Problem
Existing systems for user authentication in online transactions are cumbersome, require multiple steps, and lack user control and visibility, leading to transaction delays and a diminished user experience.
Innovation Solution
A system that includes a software application capable of receiving transaction requests and user data, encrypting the data, and transmitting it to multiple account processing systems for verification. The system analyzes transaction profile information to assess security and, if necessary, requests user authentication before proceeding with the transaction.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If traditional authentication methods are used, then user security is maintained, but transaction complexity and time increase
Solution Approach 1:
The system enables users to authenticate themselves automatically through biometric data and device identifiers without requiring manual intervention. The user's device and biometric data serve themselves to verify identity, eliminating the need for complex multi-step authentication processes while maintaining security.
Solution Approach 2:
The patent replaces traditional mechanical authentication methods (passwords, PINs, physical tokens) with biometric authentication (fingerprint, facial recognition, iris scanning). This substitution eliminates the need for users to remember or manually input credentials, reducing authentication complexity while maintaining or enhancing security.
2Reliability
If multiple account verification steps are implemented, then transaction security is improved, but transaction speed decreases
Solution Approach 1:
The system performs account verification in advance by checking the user's biometric data and device identifier against stored profiles before the transaction is initiated. This preliminary verification ensures security is established upfront, allowing subsequent transactions to proceed quickly without repeated verification steps.
Solution Approach 2:
For authenticated users with verified biometric data and trusted device identifiers, the system skips redundant verification steps during transactions. The pre-validated authentication state allows the transaction process to rush through without unnecessary delays, maintaining security while improving speed.
3Ease of operation
If manual authentication processes are used, then user control is maintained, but transaction efficiency is reduced
Solution Approach 1:
The system allows users to maintain control by selecting their preferred authentication method (biometric or device identifier) while the system automatically processes the verification. This self-service approach gives users control over their authentication preferences without requiring manual intervention in the verification process, thereby improving transaction efficiency.
4Reliability
If encryption of user data is implemented, then data security is enhanced, but processing time increases
Solution Approach 1:
The system encrypts user biometric data and device identifiers in advance and stores the encrypted versions securely. This preliminary encryption ensures data security is established before transactions occur, allowing rapid decryption and comparison during transactions without significant processing delays.
Data Source
AI summary
The present disclosure provides systems and methods for authenticating a user before performing a transaction. For example, a user can initiate a transaction and a software application can collect information about the transaction and the user, generate a message, such as a message compliant with the ISO 20022 standard, and send the message to an account processing system. The processing system can determine whether the transaction is secure, then proceed with either allowing or denying the transaction.