Capital one services, llc (20240296449). MOBILE AUTHENTIFICATION METHOD VIA PEER MOBILES simplified abstract
Contents
- 1 MOBILE AUTHENTIFICATION METHOD VIA PEER MOBILES
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 MOBILE AUTHENTIFICATION METHOD VIA PEER MOBILES - A simplified explanation of the abstract
- 1.4 Simplified Explanation
- 1.5 Potential Applications
- 1.6 Problems Solved
- 1.7 Benefits
- 1.8 Commercial Applications
- 1.9 Questions about Secure Multi-Device Transaction System
- 1.10 Original Abstract Submitted
MOBILE AUTHENTIFICATION METHOD VIA PEER MOBILES
Organization Name
Inventor(s)
Vincent Pham of Champaign IL (US)
Austin Grant Walters of Savoy IL (US)
Anh Truong of Champaign IL (US)
MOBILE AUTHENTIFICATION METHOD VIA PEER MOBILES - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240296449 titled 'MOBILE AUTHENTIFICATION METHOD VIA PEER MOBILES
Simplified Explanation
The patent application describes systems and techniques for secure transactions involving multiple computing devices linked to a financial account. The process includes authentication protocols and proximity-based verification to authorize transactions.
- Systems and techniques for secure transactions involving multiple computing devices
- Authentication protocols to verify the identity of computing devices
- Proximity-based verification to confirm the presence of other authorized devices
- Bypassing security procedures for authorized transactions
- Enhancing the security of financial transactions
Potential Applications
This technology can be applied in various industries such as banking, e-commerce, and financial services where secure transactions are crucial. It can also be used in mobile payment systems and digital wallets to ensure safe and efficient transactions.
Problems Solved
This technology addresses the issue of unauthorized access to financial accounts and enhances the security of transactions by implementing multi-device authentication protocols. It also streamlines the transaction process by bypassing certain security procedures for authorized transactions.
Benefits
The technology provides an extra layer of security for financial transactions, reducing the risk of fraud and unauthorized access. It also improves the user experience by simplifying the authentication process and making transactions more efficient.
Commercial Applications
"Secure Multi-Device Transaction System" can be utilized by banks, financial institutions, e-commerce platforms, and mobile payment providers to enhance the security of transactions and build trust with customers. This technology has the potential to revolutionize the way transactions are conducted in the digital age.
Questions about Secure Multi-Device Transaction System
How does the technology ensure the security of financial transactions across multiple devices?
The technology uses authentication protocols and proximity-based verification to confirm the identity of authorized devices, reducing the risk of unauthorized access.
What are the potential applications of this technology beyond financial transactions?
This technology can be applied in various industries where secure transactions are essential, such as healthcare, government services, and IoT devices.
Original Abstract Submitted
embodiments include systems and techniques to perform secure transactions including processing registration information for each computing device of a plurality of computing devices having authority over a financial account. in one example, embodiments include receiving a pending transaction against the financial account from a computing device. embodiments include executing an authentication protocol to determine the computing device is a member of the plurality of computing devices based upon the registration information, and processing data identifying another computing device within a configurable distance from the computing device. embodiments further include the system to execute the authentication protocol to determine the other computing device is a member of the plurality of computing devices based upon the registration information and bypass a portion of a security procedure for authorizing execution of the pending transaction.
