WO2006004441A3 - Electronic banking - Google Patents

Abstract

Electronic transactions are carried out using customer information securely stored by an augmentation system inside or outside the bank transaction system, and released to the financial transaction authority on receipt of a password from a customer identified by the particular form of contact. Thus a phone customer is identified by the number of the calling phone and the password or token releasing the information is applicable only to calls from that number. The password is coded and encrypted where possible, and the customer information released if the password is correct is also encrypted in its passage to the transaction authority. The password may be an offset of the calculable PIN of a customer account. Transactions may be limited on the basis of the security of the form of contact. A customer who has registered with an Augmentation System may contact the Augmentation System, and use this to inject a transaction into the required bank IVR at 110, meanwhile allowing the Augmentation System to retrieve information important to transactions, for instance the bank and bank account number. The use of an Augmentation System enables payments from user to a merchant to be approved in real time (and notified to the merchant) whether or not they are settled overnight.