The United States Patent and Trademark Office (USPTO) patent for invention covers Entersekt’s out-of-band transaction verification for its product, Transakt. Transakt allows users to accept or reject an online or mobile transaction directly through their personal mobile device.
When an authentication request is received on the mobile device from a secure transaction host (a bank or credit union, for instance), a digital identifier is sent back via Transakt software to verify the identity of both parties through a communication channel. A full authentication message is then delivered to the user’s mobile device. At this point, they choose to accept or reject the transaction with one click and the positive or negative response is relayed back to the service provider through the secure channel.
Entersekt combines the power of electronic certificate technology (PKI) with mobile phones and encrypted cloud messaging to provide financial institutions and their customers with protection from online banking fraud.
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