Transaction Based Authentication with Item-Level Data

Organization Name

capital one services, llc

Inventor(s)

Daniel Miller of Brooklyn NY (US)

Joshua Edwards of Philadelphia PA (US)

Jenny Melendez of Falls Church VA (US)

David Septimus of New York NY (US)

Tyler Maiman of Melville NY (US)

Viraj Chaudhary of Katy TX (US)

Samuel Rapowitz of Roswell GA (US)

Vyjayanthi Vadrevu of Pflugerville TX (US)

Transaction Based Authentication with Item-Level Data - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240303660 titled 'Transaction Based Authentication with Item-Level Data

The abstract describes a technique for authenticating a user using transaction-based authentication questions generated from item-level purchase data.

Transaction-based authentication questions are based on specific details of a transaction, such as item identification and prices.
Authorized users are likely to remember these details, while malicious actors are unlikely to guess them correctly.
This method effectively authenticates authorized users while blocking malicious actors without burdening legitimate users.

Potential Applications: - Financial account security - E-commerce platforms - Online banking systems

Problems Solved: - Improving user authentication - Enhancing security measures for financial transactions

Benefits: - Increased security for user accounts - Reduced risk of unauthorized access - Enhanced user experience with streamlined authentication process

Commercial Applications: Title: Enhanced User Authentication Technology for Financial Transactions This technology can be utilized by banks, e-commerce platforms, and other financial institutions to enhance the security of user accounts and transactions. It can provide a competitive advantage by offering a more secure and user-friendly authentication process.

Prior Art: Researchers may want to explore prior art related to user authentication methods, transaction security, and data privacy in financial transactions to understand the evolution of this technology.

Frequently Updated Research: Researchers may find updated studies on user authentication methods, cybersecurity in financial transactions, and advancements in transaction-based security measures relevant to this technology.

Questions about Transaction-Based Authentication: 1. How does transaction-based authentication improve security for financial accounts? Transaction-based authentication enhances security by using specific transaction details that only authorized users are likely to remember, making it difficult for malicious actors to access accounts.

2. What are the potential drawbacks of transaction-based authentication? While transaction-based authentication can enhance security, there may be challenges in ensuring that users can easily recall specific transaction details, potentially leading to authentication issues.

Original Abstract Submitted

aspects described herein may provide techniques for authenticating a user using transaction-based authentication questions that are generated based on item-level purchase data. the item-level purchase data of a transaction may include specific details of a transaction such as identification of each item purchased and corresponding prices paid for each item. transaction-based authentication questions for a financial account may be generated based on the item-level purchase data that an authorized user of the financial account is likely to remember and that a malicious actor is unlikely to correctly guess. as a result, the authorized user of the account is likely to be correctly authenticated while the malicious actor is likely to answer the transaction-based authentication question incorrectly. authentication can therefore effectively block malicious actors without overly burdening actual authorized users during the authentication process.