Patent ID: 8635117

Claim:
A computer-implemented process for authorizing financial transactions, the computer-implemented process comprising the steps of: retrieving, by one or more computers, transaction-data associated with a financial transaction from a non-transitory storage device associated with a financial institution's server over a communication network, wherein said transaction-data comprises data representing at least one attribute descriptive of said financial transaction; retrieving, by the one or more computers, user-data from a non-transitory storage device associated with a third-party information source, wherein said user-data comprises (i) data representing at least one attribute descriptive of an authorized financial transaction, or (ii) data representing at least one attribute descriptive of an unauthorized financial transaction; comparing, by the one or more computers, said transaction-data to said user-data to generate (i) an authorization flag or (ii) a denial flag, wherein the authorization flag is generated when said at least one attribute descriptive of said transaction-data substantially matches said at least one attribute descriptive of an authorized financial transaction, wherein the denial flag is generated when said at least one attribute descriptive of said transaction-data substantially matches said at least one attribute descriptive of an unauthorized financial transaction; and communicating, by the one or more computers, (i) the generated denial flag or (ii) the generated authorization flag to said financial institution's server over a communication network, wherein the financial transaction is authorized when the generated authorization flag is communicated by the one or more computers.