Personalized Verification Interface for Online Transactions

Resolve Bottlenecks,
Find Innovative SolutionsGenerate Solutions

Solution Overview

Problem

Online financial transactions face higher risks due to inadequate identity verification processes, leading to increased abandonment rates as customers find additional security steps inconvenient, necessitating a system that enhances security while providing incentives to complete purchases.

Innovation Solution

A system that presents personalized value-added offers during advanced verification processes, utilizing historical transaction data to personalize the verification interface and offers, thereby reducing the burden of security credentials and increasing purchase completion rates.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Reliability

If advanced verification processes are implemented to enhance security, then transaction security is improved, but customer convenience deteriorates leading to higher abandonment rates

Engineering Contradiction:

Improvetransaction securityVSAvoidcustomer convenience

Core Design Contradiction:

ReliabilityVSEase of operation

Solution Approach 1:

The system performs verification steps in advance by enrolling customers beforehand with biometric data and other verification credentials. During actual transactions, the pre-enrolled data is quickly matched against transaction details, eliminating the need for customers to go through lengthy verification processes at the point of sale.

Inventive Principle:

Principle #10Preliminary action

Solution Approach 2:

The system automatically verifies transaction authenticity by comparing transaction details against pre-enrolled customer data without requiring active customer participation. The verification process occurs in the background, and customers simply receive their goods or services without manual intervention.

Inventive Principle:

Principle #25Self-service

2Reliability

If multiple verification steps are required to ensure identity verification, then security is improved, but transaction completion time increases

Engineering Contradiction:

Improveidentity verification certaintyVSAvoidtransaction completion time

Core Design Contradiction:

ReliabilityVSLoss of time

Solution Approach 1:

Customer verification data including biometrics and personal information is collected and stored during an initial enrollment phase. This preliminary action ensures that when a transaction occurs, the verification process simply involves matching transaction details against the pre-stored data, dramatically reducing verification time.

Inventive Principle:

Principle #10Preliminary action

Solution Approach 2:

The verification process is divided into distinct phases: enrollment (data collection) and verification (data matching). By separating these functions and performing the data-intensive enrollment phase separately from the time-critical transaction phase, the system achieves both high security and fast processing.

Inventive Principle:

Principle #1Segmentation

3Device complexity

If traditional verification methods are used, then implementation simplicity is maintained, but security against online transaction fraud is insufficient

Engineering Contradiction:

Improveverification process simplicityVSAvoidsecurity against fraud

Core Design Contradiction:

Device complexityVSReliability

Solution Approach 1:

The system introduces biometric verification and automated decision engines as intermediaries between the customer and the transaction completion. These intermediaries automatically verify identity using multiple data points (biometrics, personal information, transaction details) without requiring complex customer actions, thereby enhancing security while maintaining simplicity.

Inventive Principle:

Principle #24Intermediary (Mediator)

Solution Approach 2:

Traditional mechanical verification methods (manual ID checking, signature collection) are replaced with automated electronic verification systems that use biometric scanning, database matching, and algorithmic decision-making. This substitution maintains user-friendly interfaces while dramatically improving security capabilities.

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

Data Source

PatentUS20230421546A1Presenting a personalized value added offer during an advanced verification process

Publication Date: 2023.12.28 AMERICAN EXPRESS TRAVEL RELATED SERVICES CO INC

AI summary

Systems and methods for presenting a personalized value added offer during an advanced verification process are provided. An access control server may receive an enrollment verification request comprising data relating to an account holder. The server may determine an enrollment status of the account holder and determine a value added offer based on the account holder. The server may display an advanced verification interface for user input. The advanced verification interface may include the value added offer and/or a security credential prompt. The server may personalize the advanced verification interface and/or the value added offer based on monitoring the system and compiling historical transaction data.