Patent ID: 7444676

Claim:
A method for performing a secure transaction between an Originating Participating Financial Institution and a Receiving Participating Financial Institution on behalf of an Originator initiating the transaction, the method comprising the steps of: a) providing a Digital Identity Operator connecting the Originating Participating Financial Institution to the Receiving Participating Financial Institution via a trusted Digital Identity Network; b) an Originator authenticating himself to the Originating Participating Financial Institution to initiate the transaction; c) upon successful authentication, the Originating Participating Financial Institution submitting a request for a new digital identity for the Originator to the Digital Identity Operator; d) the Digital Identity Operator processing the request, dynamically generating a new digital identity that is non-predictable, time dependent and unique to the Originator only, and returning said digital identity to the Originating Participating Financial Institution; e) the Originating Participating Financial Institution receiving said dynamically generated digital identity and providing said digital identity to the Originator; f) the Originator providing said digital identity to the Receiving Participating Financial Institution either directly, or indirectly through a Receiver; g) the Receiving Participating Financial Institution validating said digital identity by forwarding said digital identity to the Digital Identity Operator; and h) upon receiving a Digital Identity Message, the Originating Participating Financial Institution and Receiving Participating Financial Institution performing the transaction.