Patent Document ID: 9092778
Application ID: 14094796

Base Claim:
1. A computerized method for substantially eliminating financial account fraud or theft, said method including the utilization of electronic communication devices by a financial institution, a financial account holder, and, optionally, a third party, said method involving an intermediary algorithm system that a) stores within a database profile information pertaining to said financial institution, said financial account holder, and said optional third party as searchable data, b) generates searches of said searchable data upon request of verification of financial account holder identity by said financial institution in relation to a financial transaction, wherein the results of said searches are provided as unique string variables, c) communicates with profile contact points meeting all criteria defined within said search results, and d) verifies contact point identity in relation to said search criteria and said profile information, said method comprising the steps of: 1) initiating a protocol between said financial institution and said financial account holder through said intermediary algorithm system in relation to a financial account held by said financial account holder and serviced by said financial institution, wherein said protocol initiation comprises a) generating at least one financial account holder profile and a financial institution profile within said intermediary algorithm system, said financial account holder profile and said financial institution profile both comprising a client identifier relating to the identity of said financial account holder and verification contact point requirements to be undertaken by said intermediary algorithm system upon utilization of said financial account within a transaction; 2) establishing specific contact point identifications within said intermediary algorithm system through communicating with each required verification contact point within both profiles of said financial account holder and said financial institution; 3) initiating a financial transaction by said financial account holder to transfer funds to or from said financial institution in relation to said financial account holder's account; 4) requesting verification of the identity of said financial account holder by said financial institution through communicating with said intermediary algorithm system prior to completion of said financial transaction; 5) upon receipt of such a request, generating by said intermediary algorithm system search criteria including identifiers related to said requested financial transaction; 6) upon generation of said search criteria, said intermediary algorithm system creating said unique string of variables based upon results of said search criteria, said string including contact point requirements associated with said financial account holder of said financial transaction; 7) said intermediary algorithm system retaining said unique string of variables in order to a) validate profile identities associated with said financial transaction, b) identify all matching profiles meeting said search criteria, and c) identify the search associated with said search criteria; 8) transmitting a request for response from said intermediary algorithm system to each contact point associated with said at least one account holder profile, wherein said request includes said unique string of variables and a request for return of said string variables from each contact point; 9) holding said transaction open by said intermediary algorithm system until verification of said financial account holder identity is completed; 10) receiving at least one response from each contact point by said intermediary algorithm system; 11) confirming the presence of said unique string of variables within said at least one received response by said intermediary algorithm system; 12) confirming the match of each contact point from which said response is received with at least one contact point within said database by said intermediary algorithm system; 13) confirming the match of said account holder profile in comparison with said search criteria of step “5” by said intermediary algorithm system; 14) authorizing said transaction by said intermediary algorithm system if each of steps “11,” “12,” and “13” are confirmed, wherein if any of said steps “11,” “12,” or “13” are not confirmed, then said intermediary algorithm system invalidates said financial account holder identity and prohibits said transaction from proceeding; and 15) transferring the result of step “14” from said intermediary algorithm system to each of said financial account holder, said financial institution, and said optional third party; wherein said method is undertaken through the utilization of at least one computer program within a non-transitory medium.

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Claim 2:
2. The method of claim 1 wherein said intermediary algorithm system provides all communications to all parties without any required human interaction; wherein said results transfer of step “15” is undertaken without the need for any input or disclosure of any personal information of said financial account holder to said financial institution and/or said optional third party; and wherein no financial account information is shared with nor stored within said intermediary algorithm system.