Patent Application
20150081495
This invention relates to account management in a financial system, and more particularly to facilitating transfer of a user's financial account to an authorized successor.
Fraudulent account takeover causes the financial industry significant losses every year. Consequently, conventional account succession requires stringent checks on physical evidence provided by the authorized successor before a financial institution approves takeover of the account and access to the associated funds. Typical forms of evidence are a death certificate, waiver of probate, letter of indemnity, a Power of Attorney, a grant of representation, and in the case of larger account holdings, a letter of clearance from a Revenue Commission. Unfortunately, legitimate account takeover is hindered by such stringent controls. Moreover, financial institutions will typically freeze an account immediately on receiving notice that the associated account holder is deceased or otherwise incapacitated, often, requiring involvement of an agent or representative to assist with probate recovery before access to the funds can be granted to approved next-of-kin. The burden and associated delays can be particularly undesirable and distressing to individuals in the event of account succession resulting from an emotionally challenging event, such as following recognition of mental incapacity in, or passing of, a loved one.
What is desired is an efficient process for facilitating efficient account succession without being exposed to potential fraudulent losses.
According to one aspect of the present invention, a system is provided for the secured succession of a user account to an authorized successor. The system includes a database storing data identifying a registered successor for an account and associated data defining a voice signature of the registered successor, The system also includes a verification module configured to verify the identity of the registered successor based on the voice signature. Finally, an account transfer module is configured to receive an instruction to transfer the account to the registered successor, and to transfer the account to the registered successor after verification of the identity of the successor by the verification module.
In another aspect, the present invention provides a computer-implemented method for the secured succession of a user account to an authorized successor. The method includes storing data identifying a registered successor for an account and associated data defining a voice sip-nature of the registered successor, verifying the identity of the registered successor based on the voice signature, receiving an instruction to transfer the account to the registered successor, and transferring the account to the registered successor after verification of the identity of the successor.
In other aspects, there is provided a computer program and computing device arranged to carry out the method when executed by suitable programmable devices, and a non-transitory storage medium comprising the computer program.
There now follows, by way of example only, a detailed description of embodiments of the present invention, with references to the following figures identified below:
A specific embodiment of the invention will now be described for the process of secured succession of a customer's account to an authorized successor. Referring to
The verification module 9 is configured to perform any one or more forms of user identification and verification (ID&V) mechanism. For example, typical ID&V involves challenge questions and response, validation of the account or an associated card number, a Personal Identification Number (PIN) and/or a secret word. As another example, verification of an account bolder identity involves verification of the account holder's biometric profile based on stored biometric data 11 associated with account data of the. user accounts 7-1, 7-25, such as voice print data 12 derived from captured voice data from the account holder, and/or facial profile data derived from captured image data. As is known in the art, a voice print 13 can be defined as a mathematically described set of speech characteristics of a human voice, such as frequency, pitch, speed, word pronunciation, dialect, etc., and a facial profile 15 can be defined as a mathematically described set of visual characteristics of a human face, such as relative position, size and/or shape of the eyes, nose, cheekbones, jaw, etc., skin, colour, shade or tone, etc. Such ID&V mechanisms are of a type that are known per se, and will not be described further.
Optionally, the verification module 9 can be configured to perform enhanced verification based on a six factor authentication process. In addition to the typical three factors of:
The account management system 3 also includes one or more account servicing modules 13 for facilitating access to the financial accounts and servicing of the account data associated with the. user accounts 7-1, 7-2 by the respective verified account holders, for example, to retrieve and update address and telephone contact details, retrieve account balances, instruct transactions from the accounts, or the like. The account management system 3 is also he configured to store and/or maintain supplemental data associated with or indexed to a user's account, for example:
The registered account holders can access the various account servicing modules 13 from computing devices 15, such as a personal computer, a laptop, a computing terminal, a smart phone, a tablet computer, or the like, in electronic communication with a network gateway module 17 of the account management system 3 via a data network 19. The data network 19 may be any suitable data communication network such as a wireless network, a local- or wide-area network including a corporate intranet or the Internet, using for example, the TCP/IP protocol, or a cellular communication network such as Global System for Mobile Communications (GSM). General Packet Radio Service (GPRS), Code Division Multiple Access (CDMA), CDMA2000, Enhanced Data Rates for GSM Evolution (EDGE), Evolved High-Speed Packet Access (HSPTA+), Long Term Evolution (LTE), etc.
Additionally or alternatively, the registered account holders can access the account servicing modules 13 through a telephone 21 connected to a Computer Telephony Integration (CTI) module 23 of the account management system 3 that facilitates interactions between the telephone 21 and the account management system 3 via a telephone network 25, such as a public switched telephone network (PSTN). As is known in the art, the CTI module 23 can be configured to handle interactions with a caller using interactive voice response (IVR) technology and to route telephone calls to one or more servicing modules 13.
As will he described below in greater detail, the account management system 3 includes a successor registration module 25 tor facilitating registration of an authorized successor for an existing primary account 7-1 and creation of a respective successor account 7-2, prior to and in anticipation of a need to transfer the primary account 74 to the authorized successor, for example, after bereavement or incapacitation of the associated primary account holder. The account management system 3 also includes an account succession module 27 for facilitating the transfer of access to, and control of, the primary account 7-1 to the pre-registered successor. The account succession module 27 is coupled to the verification module 9 to verify the identity of the pre-registered successor before the account succession is authorized and activated. The successor registration module 25 and the account succession module 27 are also coupled to the network gateway module 17 and the CTI module 23 to allow a nominated successor to communicate with the account management system 3 via an associated computing device 15 over the. data network 19, and/or telephone 21 over the telephone network 25.
The account management system 3 also includes a voice portal module 29 coupled to the CTI module 23 for capturing voice data from telephone calls by account holders to the account management system 3, for example, when calls are made to engage services provided by the account management system 3 via the CTI module 23, or when voice responses are received in response to verification challenges by the verification module 9. The voice portal module 29 may also be coupled to the network gateway module 17 to capture voice data received from a computing device 15, for example, via a microphone (not shown). Optionally, the voice print data 12 is maintained by the voice portal module 29, for example, by iteratively updating the voice prints 12 based on further voice-based interactions by the successor with any services provided the financial institution, thereby advantageously reducing biometric divergence of the stored biometric profile 11 from the successors voice print 12-2 over time. As a further option, stale voice prints, which are voice prints that have not been verified or updated within a predefined period of time, can be augmented by the voice portal module 29 by a variance prediction model to take into account predicted changes to the voice print for improved recognition and verification. Such predicted variance may reduce a security weighting for the biometric authentication factor and further ID&V questions may be required by the verification module 9.
Successor Account Registration Process
A brief description has been given above of the components forming part of the account management system 3 of this embodiment. A more detailed description of the operation of these components in this embodiment will now be given with reference to the flow diagram of
As shown in
At step S2-3, the network gateway module 17 establishes a connection to the successor registration module 25 to handle the request. At step S2-5, the successor registration module 25 prompts for and receives data identifying a nominated successor. This identifying data may be one or more of: a registered name, a postal address, a telephone number, an account number, a voice print, etc. At step S2-7, the successor registration module 25 determines from the received data, such as the account number, it the nominated successor is an existing customer having a registered account with the financial institution. If it is determined that the nominated successor is not an existing customer, then at step S2-9 the successor registration module 25 initiates a new account registration process to register and open a new successor account 7-2 for the nominated successor. At step S2-11, the successor registration module 25 receives registration details from the successor, creates and stores data for the new successor account 7-2 in the accounts database 5. The received registration details may be in the form of user input via an interface of the application or web interface on the computing device 15, the telephone 21 keypad, or captured audio responses to prompts from the successor registration module 25 via the CTI module 23. Preferably, key registration details for the nominated successor include information to allow follow-up questions such as home address, date of birth and contact details, and permission for pre-active contact to maintain the integrity of the stored data or query the status of the testator.
At step S2-13, the successor registration module 25 creates and stores a biometric profile 11 for the successor, if necessary, the biometric profile including a successor voice print 12-2 derived from voice data of the successor captured by the voice portal 29. As described above, the audio data can be captured from call data when the nominated successor connects to the successor registration module 25 using a telephone 21 via the CTI module 23. Alternatively, the successor registration module 25 can be configured to prompt tire successor for spoken responses through a biometric profile generation process in order to capture sufficient voice data to derive the voice print 12-2, for example, where the registration process does not otherwise, involve verbal input from the successor. The successor's stored biometric profile 11 is associated with the new successor account 7-2 by the successor registration module 25 at step S2-15, to complete, the new successor account registration process. For example, this can be implemented by storing data for the successor account 7-2 defining a link to the associated biometric profile.
At step S2-17, the successor registration module 25 stores data linking the authorized successor's account 7-2 to the existing primary account 7-1. For example, the successor registration module 25 can add a reference to the successor's account 7-2 in a successor account field of the primary account data 7-1.
On the other hand, if it is determined at step S2-7 that the nominated successor is an existing customer of the financial institution, then at step S2-19, the successor registration module 25 calls the verification module 9 to verify the identity of the nominated successor based on ID&V of the successors existing account data 7-2 and/or verification of captured voice data of the nominated successor compared to an associated stored voice print 12-2 of the successor's existing biometric profile 11. If the nominated successor has more than one existing account with the financial institution, then after the verification module 9 has verified the successor's identity, the successor registration module 25 cart prompt the authorized successor to nominate one of the existing accounts as the successor account 7-2. The nominated successor account 7-2 is then linked to the primary account 7-1 by the successor registration module 25 at step S2-17.
In an alternative embodiment, the successor registration module 25 is configured to register the voice print of a successor as discussed above and to then automatically convert the existing primary account 7-1 to a “Payable On Death” (POD) type of successor account 7-2 (also known as an “In-Trust-For” account). In this way, the account management system 3 leaves the existing account holder/owner in control of the associated funds and the ability to nominate a different successor at any time.
Account Succession Process
In an alternative embodiment, the account succession module 27 determines that a successor must be appointed for an existing account. This prediction of the need for account handover can be made based on available data from a plurality of various data sources (i.e. something the system finds out), in order to identify a candidate event associated with a registered account holder that potentially necessitates succession of the existing primary account 7-1. For example, the account management system 3 includes a news feed aggregator module 31 to monitor and provide data relating to:
In response to identifying a candidate event, the account succession module 27 determines the pre-registered successor from existing account data and pro-actively contacts the registered successor based on contact details stored in. the data of the successor account 7-2. Optionally, the account succession module 27 can prompt the registered successor for confirmation of the demise of the primary account holder. At step S3-3, the account succession module 27 calls the verification module 9 to verify the successor's identity based on the stored voice print 12-2 of the successor's biometric profile 11. Optionally, the verification module 9 can be configured to carry out ID&V based on the successor's stored account details. The level of verification required by the account succession module 27 at this step can depend on various factors, inducting whether the account management system 3 initiated contact with the registered successor, whether an initial IVR greeting and response by the registered successor provided a sufficient biometric voice sample, current business risk appetite, etc.
After the verification module 9 confirms that the contacted person is the authorized and registered successor for the primary account 7-1, the account succession module 27 can prompt the successor for confirmation to activate the succession plan. At step S3-5, the account succession module 27 receives confirmation from the successor and proceeds to migrate or convert the existing primary account 7-1 to a successor account 7-2 at step S3-7. Migration of the primary account 7-1 to a successor account 7-2 involves the transfer of associated funds and other payment artifacts, such as direct debits and standing orders, to the successor account, whereby the financial institution is able to divert communications to the registered successor and continues to honor existing bill payments, etc. The primary account 7-1 is also updated to include a link to the successor account 7-2 that may be used where appropriate, such as for diversion of contact details, notes/alerts for future customer services agents involved in handling the account and auditability of the primary account 7-1 based on data from the linked successor account 7-2. Optionally, the account succession module 27 can enable restricted access by the associated registered successor to the successor account 7-2 until a full probate process has completed, for example, by controlling access to the account servicing modules 13 such as limiting the transaction amounts or frequency from that account, prohibiting closure of the account, addition of a joint account holder, and/or creation of new payments of any type (e.g. standing order, direct debit, or single payment instructions).
It will be appreciated that a full probate process is typically carried out by an external entity, such as a Probate Court or by an agent/representative, or Revenue Commission, etc. to officially and legally authorize the executor of an estate (e.g. the successor or next-of-kin) to take full control of the affairs of the testator. Accordingly, at step S3-9, the account succession module 27 receives input data indicative of official clearance of the registered successor received from the external entity, such as data indicative of Grant of Representation, Probate Court access order, waiver of probate, indemnity, Power of Attorney, Revenue Commission clearance, etc. It will be appreciated that a period of time may pass between migration of the account to a successor account at step S3-7 and subsequent receiving of confirmation that the successor is officially cleared at S3-9. Once confirmation of the official clearance has been received, the account succession module 27 updates the account data 7 to migrate or convert the successor account 7-2 to a regular account associated wish the registered successor, whereby full and unrestricted access to the financial account is enabled.
The process for migration or conversion of the successor account 7-2 to a regular account will depend on the specific configuration of the account management environment 1, and may be implemented for example as a course-grained process of clearing a successor account flag from account details stored as part of a CRM system, or could be implemented in a more fine-grained manner by explicitly removing the individual restrictions from the successor account 7-2, such as the above-mentioned payment limits, account closure block controls, additional card holder. The fine-grained option may be an option made available for a new account holder who may wish, to limit fraud risk or even avoid temptation to over-spend the transferred funds. Likewise the financial institution may offer to keep some limits and/or restrictions in place to reduce risk of fraud or over-spending against the transferred funds.
Advantages
A number of advantages wilt be understood from the above description of the embodiments of the present invention.
In particular, a system and method are provided for pre-registering details of an account holder's next of kin to enable efficient and secured transfer of authorization to access a financial account. The primary account bolder and the nominated, authorized, successor can advantageously pre-register required details in advance of the account succession, and the account management system 3 is configured to ensure that a voice print is stored for the nominated successor such that the subsequent account succession process is efficient yet secured. Pre-registration of a power of attorney or next of kin's biometric profile at any time prior to a bereavement or incapacitating event, and subsequent maintenance by the financial institution of the biometric profile, effectively increases the confidence of the financial institution of both the testator's wishes and also the validity of the claimant to be a successor to an estate.
Additionally, data integrity of both the existing primary account and the nominated successor account are maintained throughout the account succession process. This maintains the financial institution's ability to audit both accounts, and wind back transactions in the event of an error.
Moreover, the financial institution can be pro-active in it's dealings with the successor based on knowledge of the event from media (e.g. press association news feed) or social media updates from the testator's accounts or known associates (such as registered successors).
Computer Systems
The account management system described herein may be implemented by one or more computer systems such as a computer system 1000, as shown in
The computer system 1000 includes one or more processors, tor example, a single processor 1004. The processor 1004 may be any type of processor, including but not limited to a special purpose or a general-purpose digital signal processor. The processor 1004 is connected to a communication infrastructure 1006 (for example, a bus or network), Various software implementations are described in terms of this exemplary computer system. After reading this description, it will become apparent to a person skilled in the art how to implement the invention using other computer systems and/or computer architectures.
The computer system 1000 also includes a user input interface 1003 connected to one or more input device(s) 1005 and a display interface 1007 connected to one or more display(s) 1009. The input devices 1005 may include, for example, a pointing device such as a mouse or touchpad, a keyboard, a touchscreen such as a resistive or capacitive touchscreen, etc. After reading this description, it will become apparent to a person skilled in the art how to implement the invention using other computer systems and/or computer architectures, for example using mobile electronic devices with integrated input and display components.
The computer system 1000 also includes a main memory 1008, preferably random access memory (RAM), and may also include a secondary memory 1010. The secondary memory 1010 may include, for example, a hard disk drive 1012 and/or a removable storage drive. 1014, representing a floppy disk drive, a magnetic tape drive, an optical disk drive, etc. the removable storage drive 1014 reads from and/or writes to a removable storage unit 1018 in a well-known manner. The removable storage unit 1018 represents a floppy disk, magnetic tape, optical disk, etc., which is read by and written to by the removable storage drive 1014. As will be appreciated, the removable storage unit 1018 includes a comparer usable storage medium having stored therein computer software and/or data.
In alternative implementations, the secondary memory 1010 may include other similar means for allowing computer programs or other instructions to be loaded into the computer system 1000. Such means may include, for example, a removable storage unit 1022 and an interface 1020. Examples of such means may include a program cartridge and cartridge interface (such as that previously found in video game devices), a removable memory chip (such as an EPROM, or PROM, or flash memory) and associated socket, and other removable storage units 1022 and interfaces 1020 which allow software and data to be transferred from the removable storage unit 1022 to the computer system 1000. Alternatively, the program may be executed and/or the data accessed from the. removable storage unit 1022, using the processor 1004 of the computer system 1000.
The computer system 1000 may also include a communication Interface 1024. The communication interface 1024 allows software and data to he transferred between the computer system 1000 and external devices. Examples of the communication interface. 1024 may include a modem, a network interface (such as an Ethernet card), a communication port, a Personal Computer Memory Card International Association (PCMCIA) slot and card, etc. Software and data transferred via communication interface 1024 are in the form of signals 1028, which may be electronic, electromagnetic, optical, or other signals capable of being received by the communication interface. 1024. These signals 1028 are provided to the communication interface 1024 via a communication path 1026. The communication path 1026 carries signals 1028 and may be implemented using wire or cable, fibre optics, a phone line, a wireless link, a cellular phone link, a radio frequency link, or any other suitable communication channel, For instance, the communication path 1026 may be implemented using a combination of channels,
The terms “computer program medium” and “computer usable medium” are used generally to refer to media such as a removable storage drive 1014, a hard disk installed in the hard disk drive 1012, and signals 1028. These computer program products are means for providing software, to the computer system 1000. However, these terms may also include signals (such as electrical, optical or electromagnetic signals) that embody the computer program disclosed herein.
The computer programs (also called computer control logic) are stored in the main memory 1008 and/or the secondary memory 1010. The computer programs may also be received via communication interface 1024. The computer programs, when executed, enable the computer system 1000 to implement embodiments of the present invention as discussed herein. Accordingly, such computer programs represent controllers of the computer system 1000. Where the embodiment is implemented rising software, the software may be stored in a computer program product 1030 and loaded into the computer system 1000 using the removable storage drive 1014, the hard disk drive 1012, or the communication interface 1024, to provide, some examples.
Alternative embodiments may be implemented as control logic in hardware, firmware, or software or any combination thereof.
It will be understood that embodiments of the present invention are described herein by way of example only, and that various changes and modifications may be made without departing from the scope of the invention.
For example, in the embodiments described above, the account management system is associated with a financial institution and stores account data for a plurality of financial accounts. As those skilled in the art will appreciate, the system and method for pre-registering an authorized successor and (or effecting account succession can be applied to management of accounts that are not necessarily associated with a financial institution. For example, the described techniques can be applied to controlling succession of any other form of user account, such as an email account, a loyalty scheme account, a membership account, etc.
