Out-of-Band Video Authentication for Wire Transfer Fraud
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Solution Overview
Problem
Existing mechanisms for authenticating parties in secure transactions are cumbersome and susceptible to fraud, particularly in wire transfer transactions, where impersonation and malicious interference can occur, lacking assurance about the identity of the communicating parties.
Innovation Solution
A method and system that utilize an out-of-band user interaction protocol, where one party provides video or audio evidence of actions taken during a secure transaction, allowing the receiving party to acknowledge and verify these actions, ensuring they match expected actions, thereby authenticating the identity and establishing an authenticated, encrypted communication channel.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If traditional authentication mechanisms (phone number, account number, password) are used, then the authentication process is simple and quick, but the system is susceptible to fraud and impersonation attacks
Solution Approach 1:
The patent introduces video or audio evidence as an intermediary element that mediates between the parties involved in the transaction. This evidence serves as a third-party verification mechanism that confirms the identity of the person initiating the transaction, thereby enhancing security without requiring complex multi-step authentication protocols. The video/audio record acts as a trusted mediator that both parties can verify independently.
Solution Approach 2:
The patent adds a new dimension to authentication by incorporating video or audio recording as a temporal and visual/spatial element. Instead of relying solely on static credentials (passwords, phone numbers), the system captures dynamic biometric and behavioral data in the form of video/audio evidence. This dimensional addition allows for more robust verification while maintaining a relatively simple user interface.
2Reliability
If video or audio evidence collection is implemented, then fraud and impersonation risk is reduced, but the authentication process becomes more time-consuming and complex
Solution Approach 1:
The patent implements preliminary action by capturing video or audio evidence during the authentication process itself, rather than requiring separate verification steps. The system records the user performing authentication actions (such as reading verification codes or answering security questions) while simultaneously verifying their identity. This preliminary capture of evidence during the natural flow of authentication minimizes additional time requirements.
Solution Approach 2:
The patent merges multiple functions into a single integrated process: identity verification, transaction authorization, and evidence collection all occur simultaneously during the authentication step. Instead of separating these functions into distinct stages that would consume additional time, the system combines them into one unified workflow where video/audio recording happens concurrently with the authentication verification, thereby reducing overall authentication time while maintaining high verification accuracy.
3Reliability
If out-of-band user interaction protocol is used, then assurance of correct party identity is improved, but the ease of operation deteriorates due to additional verification steps
Solution Approach 1:
The patent implements self-service by allowing users to independently verify video or audio evidence without requiring manual review by customer service representatives. The system provides tools and interfaces that enable users to autonomously confirm the authenticity of the evidence (such as comparing facial features, verifying voice characteristics, or checking contextual consistency), thereby maintaining high identity assurance while avoiding the operational complexity of human-mediated verification.
Solution Approach 2:
The patent incorporates feedback mechanisms that provide real-time or near-real-time confirmation to users about the authenticity and validity of the video/audio evidence. The system analyzes the recorded evidence and provides immediate feedback indicators (such as trust scores, verification status, or confidence levels) that guide users in their verification decisions. This automated feedback loop simplifies the user experience by reducing the cognitive load required to assess evidence authenticity, thereby maintaining ease of operation while ensuring reliable identity verification.
Data Source
AI summary
Systems and methods for authenticating a party to a secure transaction may include receiving, from a first computing device on behalf of a first party at a second computing device of a second party, information associated with a secure transaction between the parties, receiving, from the first device at the second device, video or audio evidence of actions taken by the first party, capturing, by the second computing device during presentation of the video or audio evidence, acknowledgement of actions taken by the first party as observed or heard by the second party in the evidence, determining, dependent on the acknowledgement, whether the actions observed or heard by the second party match expected actions of the first party in accordance with an out-of-band user interaction protocol, and determining whether to accept the information associated with the secure transaction dependent on whether the observed or heard actions match the expected actions.