US Patent:
20120185386, Jul 19, 2012
Inventors:
Hisham Ibrahim Salama - Charlotte NC, US
David Shroyer - Matthews NC, US
Darrell Fitzgerald Stanfield - York SC, US
Denise Hanna Beachley - Huntersville NC, US
Phillip Wayne Dunne - Auburn CA, US
Murali K. Bolisetty - Bellevue WA, US
Assignee:
BANK OF AMERICA - Charlotte NC
International Classification:
G06Q 40/00
Abstract:
An electronic funds transfer authentication system and method facilitates the verification and authentication of a user and if authenticated allows the user to perform an action in an online system, such as an electronic funds transfer. The user-entered data is validated, and then the action (e.g., electronic funds transfer) is validated using credit/debit card information. Using a unique combination of security measures and procedures, the risk associated with various types of action and fund transfers is reduced, thereby enabling a financial institution to protect its customers' accounts with a greater degree of certainty.
