System and method for financial transaction authentication using travel information

Abstract

Systems and methods for verifying a distant-from-home financial transaction related to a customer account based on travel indicators in earlier purchase transactions made by that customer.

1 . A method in a computing system, comprising:
 storing an indication of a pending travel event in a travel analysis platform, the indication of the travel event generated based on a travel-related financial transaction;   generating a current location of a user based on the stored indication of the travel event in the travel analysis platform;   receiving a current transaction authorization request from a point of service;   generating a transaction approval indication when a location of the current transaction authorization request and the generated current location of the user, based on the indication of the travel event in the travel analysis program, are within a predetermined distance; and   transmitting to a bank, a request to communicate a transaction approval indication to the point of service that transmitted the current transaction authorization request.   
     
     
         2 . The method of  claim 1  comprising:
 storing a plurality of travel transactions relating to a travel event; 
 determining travel characteristics for a user based on the stored transactions; 
 generating an indication of the pending travel event based on determined travel characteristics; and 
 populating the travel analysis platform based on the determined travel characteristics. 
 
     
     
         3 . The method of  claim 2  wherein the indication of a travel event is itinerary information. 
     
     
         4 . The method of  claim 3  comprising:
 determining a carrier for the travel transaction; 
 comparing the location of the current transaction authorization request with a known destination of the determined carrier; 
 generating a transaction approval indication when a known destination of the determined air carrier is within a predetermined distance from the location of the current transaction authorization request. 
 
     
     
         5 . The method of  claim 4  comprising:
 comparing the location of the current transaction authorization request with historic transaction information; and 
 transmitting an indication of transaction approval when the location of the current transaction authorization request matches historic transaction information. 
 
     
     
         6 . The method of  claim 5  comprising:
 generating an indication of pending travel, based on one or more transactions that are suggestive of pending travel; and 
 populating the travel analysis platform with the generated indication of pending travel. 
 
     
     
         7 . The method of  claim 6  comprising:
 calculating a time period a user is in a location based on at least one of distance from an airport and time between flights. 
 
     
     
         8 . The method of  claim 1  wherein the monitored transactions are financial transactions using at least one of a bank card, online payment and mobile bill payment. 
     
     
         9 . The method of  claim 8  wherein travel characteristics are at least one of flight date, flight time, arrival location, and hotel location. 
     
     
         10 . The method of  claim 9  comprising:
 estimating at least one of a distance and time of travel based on a price of an airline ticket; and 
 transmitting an indication of transaction approval when the estimated distance of travel is within a predetermined threshold of the actual distance from a residence of the user. 
 
     
     
         11 . The method of  claim 1  comprising:
 using a computerized verification system, sending the transaction approval indication from the computerized verification system to a computerized payment network, wherein the computerized verification further comprises at least one of a risk score indicator and a binary risk indicator; and 
 determining whether the transaction should be authorized. 
 
     
     
         12 . A computing system configured to facilitate a transaction approval system, comprising:
 a memory;   a module stored on the memory that is configured, when executed, to:
 generate a travel itinerary in a travel analysis platform based on one or more travel-related financial transactions; 
 receive a current transaction authorization request; 
 predict a current location of a user based on the generated travel itinerary; and 
 transmit a transaction approval recommendation when a location of the received transaction authorization request and the predicted current location of the user are within a predetermined distance. 
   
     
     
         13 . The computing system of  claim 12  wherein the module is further configured, when executed, to:
 receive a current transaction authorization request when a computerized verification system flags a current transaction. 
 
     
     
         14 . The computing system of  claim 13  wherein the module is further configured, when executed, to:
 determine a carrier for the travel transaction; 
 compare the location of the current transaction authorization request with a known destination of the determined carrier; and 
 generate a transaction approval indication when a known destination of the determined air carrier is within a predetermined distance from the location of the current transaction authorization request. 
 
     
     
         15 . The computing system of  claim 12  wherein the module is further configured, when executed, to:
 generate an indication of pending travel, based on one or more transactions that are suggestive of pending travel; and 
 populate the travel analysis platform with the generated indication of pending travel. 
 
     
     
         16 . The computing system of  claim 12  wherein the module is further configured, when executed, to:
 estimate at least one of a distance and a date of travel based on a price of an airline ticket; and 
 transmit an indication of transaction approval when the estimated distance of travel is within a predetermined threshold of the actual distance from a residence of the user. 
 
     
     
         17 . A computer-readable medium whose contents, when executed, cause a computing system to facilitate a transaction approval system, by performing a method comprising:
 storing a received travel itinerary in a travel analysis platform;   determining a current location of a user based on the travel itinerary;   receiving a current transaction authorization request from a bank;   generating a transaction approval indication when a location of the current transaction authorization request and the generated current location of the user are within a predetermined distance; and   providing the transaction approval indication to the bank that transmitted the current transaction authorization request.   
     
     
         18 . The computer-readable medium of  claim 17  comprising:
 estimating a distance of travel based on a price of an airline ticket; and 
 providing an indication of transaction approval when the estimated distance of travel is within a predetermined threshold of the actual distance from a residence of the user. 
 
     
     
         19 . The computer-readable medium of  claim 17  comprising:
 using a computerized verification system, sending the transaction approval indication from the computerized verification system to a computerized payment network; and 
 determining whether the transaction should be authorized based on the transaction approval indication at the computerized payment network. 
 
     
     
         20 . The computer-readable medium of  claim 17  wherein the computer-readable medium is at least one of a memory in a computing device or a data transmission medium transmitting a generated signal containing the contents.