WiFi Signal Authentication for Remote Banking Security
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Solution Overview
Problem
Current methods for verifying customer identity during remote financial transactions are inadequate, as they can be easily bypassed by fraudulent actors, particularly when customers access their accounts from unfamiliar locations, leading to potential unauthorized fund transfers.
Innovation Solution
A system that authenticates customers by comparing the list of nearby WiFi networks detected by their device to a stored list, along with a synthetic password generated from these networks, to ensure the transaction is initiated from a recognized location, thereby enhancing security and reducing fraudulent access.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If traditional password verification is used for remote transactions, then ease of operation is improved, but reliability of authentication deteriorates
Solution Approach 1:
The authentication process is segmented into multiple independent verification layers: traditional password verification, WiFi network list comparison, and synthetic password verification. Each layer operates independently to provide comprehensive security without compromising user convenience.
Solution Approach 2:
A synthetic password is introduced as an intermediary authentication element that bridges the gap between traditional password verification and physical location verification. The synthetic password is generated based on the detected WiFi network environment, providing an additional layer of security that is easy to implement but difficult to bypass.
2Reliability
If WiFi network list comparison is added for authentication, then reliability of authentication is improved, but device complexity increases
Solution Approach 1:
The router's WiFi detection capability, which already serves the function of network connectivity, is extended to also perform authentication verification. The same hardware components that detect WiFi networks for connection purposes are now also used to verify the authentication environment, eliminating the need for separate dedicated authentication hardware.
Solution Approach 2:
The system uses its own existing WiFi detection infrastructure to perform authentication verification. The router automatically detects WiFi networks and the app automatically compares the detected network list against stored profiles, making the authentication process self-service without requiring external verification systems.
3Reliability
If synthetic password verification is implemented, then reliability of authentication is improved, but ease of operation deteriorates
Solution Approach 1:
The manual password entry process is replaced with an automated synthetic password generation and verification system. Instead of requiring users to manually create or remember complex passwords, the system automatically generates synthetic passwords based on the detected WiFi environment and verifies them programmatically.
Data Source
AI summary
The embodiments disclosed herein use WiFi signals detected from nearby WiFi networks to confirm the identity of a bank's customer logging in to his or her account at the bank. Specifically, the customer's computing device may detect signals from neighboring WiFi networks. The bank may then verify that the customer's accounts are being accessed from the customer's home or office by comparing the list of neighboring WiFi networks to a previously stored list of the neighboring networks. If the lists match, it is probable that the customer's accounts are being accessed from the customer's home or office, thus reducing the possibility that a fraudulent actor is trying to access the customer's accounts.