Identity verification switch

Abstract

Methods, systems, and machine-readable media are disclosed for an identity verification switch. According to one embodiment, the method comprises receiving from an inquirer a request to verify an identity of an individual initiating a transaction. The request includes account information for an account subject to the transaction and identity information for the individual initiating the transaction. Based on the request, a verifying financial institution is selected from one or more participating financial institutions. The request is forwarded to the verifying financial institution for verification of the identity information. An answer is received from the verifying financial institution indicating results of verification of the identity information. The answer is returned to the inquirer.

1 . A method comprising:
 receiving at an identity verification switch system from an inquirer a request to verify an identity of an individual initiating a transaction, the request including a plurality of data elements representing account information for an account subject to the transaction and identity information for the individual initiating the transaction;   selecting, with the identity verification switch system and based on the request, a verifying financial institution from one or more participating financial institutions;   forwarding the request from the identity verification switch system to the verifying financial institution, wherein the verifying financial institution verifies the account information and the identity information of the request;   receiving at the identity verification switch system from the verifying financial institution an answer including results of verification for each of the plurality of data elements of the request, the answer comprising a plurality of data elements corresponding to the plurality of data elements of the request; and   returning the answer with the plurality of data elements from the identity verification switch system to the inquirer, for the inquirer to assess the individual data elements in the answer to determine the risk of completing the transaction.   
     
     
         2 . The method of  claim 1 , wherein the account information from the request comprises a Routing Transit (RT) number. 
     
     
         3 . The method of  claim 2 , wherein selecting the verifying financial institution from one or more participating financial institutions is based on the RT number. 
     
     
         4 . The method of  claim 1 , wherein verification of the identity information comprises determining whether the individual is authorized to conduct transactions on the account based on the identity information from the request and account information maintained by the verifying financial institution. 
     
     
         5 . The method of  claim 4 , wherein the answer comprises positive indications corresponding to identity information from the request that matches identity information for individuals authorized to conduct transactions on the account maintained by the verifying financial institution. 
     
     
         6 . The method of  claim 4 , wherein the answer comprises negative indications corresponding to identity information from the request that does not match identity information for individuals authorized to conduct transactions on the account maintained by the verifying financial institution. 
     
     
         7 . The method of  claim 4 , wherein the answer comprises cautionary indications corresponding to identity information from the request that is not found in identity information for individuals authorized to conduct transactions on the account maintained by the verifying financial institution. 
     
     
         8 . A system comprising:
 a processor; and   a memory communicative connected with and readable by the processor and containing instructions that, when executed by the processor, cause the system to receive from an inquirer a request to verify an identity of an individual initiating a transaction, the request including a plurality of data elements representing account information for an account subject to the transaction and identity information for the individual initiating the transaction, select, based on the request, a verifying financial institution from one or more participating financial institutions, forward the request to the verifying financial institution, receive from the verifying financial institution an answer including results of verification for each of the plurality of data elements of the request, wherein the answer comprises a plurality of data elements corresponding to at least data elements of the request representing identity information, and return the answer to the inquirer for the inquirer to assess the individual data elements in the answer to determine the risk of completing the transaction.   
     
     
         9 . The system of  claim 8 , wherein the account information from the request comprises a Routing Transit (RT) number and wherein selecting the verifying financial institution from one or more participating financial institutions is based on the RT number. 
     
     
         10 . The system of  claim 8 , wherein verification of the identity information comprises determining whether the individual is authorized to conduct transactions on the account based on the identity information from the request and account information maintained by the verifying financial institution. 
     
     
         11 . The system of  claim 10 , wherein the answer comprises positive indications corresponding to identity information from the request that matches identity information for individuals authorized to conduct transactions on the account maintained by the verifying financial institution. 
     
     
         12 . The system of  claim 10 , wherein the answer comprises negative indications corresponding to identity information from the request that does not match identity information for individuals authorized to conduct transactions on the account maintained by the verifying financial institution. 
     
     
         13 . The system of  claim 10 , wherein the answer comprises cautionary indications corresponding to identity information from the request that is not found in identity information for individuals authorized to conduct transactions on the account maintained by the verifying financial institution. 
     
     
         14 . A machine-readable medium having stored thereon a series of executable instructions that, when executed by a processor, cause the processor to:
 receive from an inquirer a request to verify an identity of an individual initiating a transaction, the request including a plurality of data elements representing account information for an account subject to the transaction and identity information for the individual initiating the transaction, the account information comprising a Routing Transit (RT) number and an account number;   select, based on the RT number, a verifying financial institution from one or more participating financial institutions;   forward the request to the verifying financial institution;   receive from the verifying financial institution an answer including results of verification for each of the plurality of data elements of the request, wherein the answer comprises a plurality of data elements corresponding to the plurality of data elements of the request; and   return the answer having the plurality of data elements to the inquirer for the inquirer to assesses the individual data elements in the answer in order to determine the risk of completing the transaction.   
     
     
         15 . The machine-readable medium of  claim 14 , wherein verification of the identity information comprises determining whether the individual is authorized to conduct transactions on the account based on the identity information from the request and account information maintained by the verifying financial institution. 
     
     
         16 . The machine-readable medium of  claim 15 , wherein the answer comprises positive indications corresponding to identity information from the request that matches identity information for individuals authorized to conduct transactions on the account maintained by the verifying financial institution. 
     
     
         17 . The machine-readable medium of  claim 15 , wherein the answer comprises negative indications corresponding to identity information from the request that does not match identity information for individuals authorized to conduct transactions on the account maintained by the verifying financial institution. 
     
     
         18 . The machine-readable medium of  claim 15 , wherein the answer comprises cautionary indications corresponding to identity information from the request that is not found in identity information for individuals authorized to conduct transactions on the account maintained by the verifying financial institution. 
     
     
         19 . The method of  claim 1 , further comprising reformatting the request with the identity verification switch system prior to forwarding the request to the verifying financial institution, wherein the reformatting the request is based on a format required by the verifying financial institution. 
     
     
         20 . The method of  claim 19 , wherein reformatting the request comprises generating a new request message. 
     
     
         21 . The method of  claim 19 , further comprising reformatting the answer with the identity verification switch system prior to returning the answer to the inquirer, wherein the reformatting the answer is based on a format required by the inquirer. 
     
     
         22 . The method of  claim 21 , wherein reformatting the answer comprises generating a new answer. 
     
     
         23 . The method of  claim 1 , wherein the inquirer comprises a merchant, the transaction comprises a purchase, the account comprises a checking account, and the individual initiating the transaction comprises a purchaser paying for the purchase with a check drawn on the checking account. 
     
     
         24 . The method of  claim 1 , wherein the one or more financial institutions comprises a plurality of financial institutions and the inquirer comprises a financial institution of the plurality of financial institutions other than the verifying financial institution. 
     
     
         25 . A method comprising:
 receiving at an identity verification switch system from an inquirer a request to verify an identity of an individual initiating a transaction, the request including a plurality of data elements representing account information for an account subject to the transaction and identity information for the individual initiating the transaction;   selecting, with the identity verification switch system and based on the request, a verifying financial institution from one or more participating financial institutions;   forwarding the request from the identity verification switch system to the verifying financial institution, wherein the verifying financial institution verifies the account information and the identity information of the request;   receiving at the identity verification switch system from the verifying financial institution an answer including results of verification for each of the plurality of data elements of the request, wherein the answer comprises a plurality of data elements, each of the plurality of data elements in the answer corresponding to one of the plurality of data elements in the request; and   returning the answer, including each of the corresponding data elements in the answer, from the identity verification switch system to the inquirer for the inquirer to assesses the individual data elements in the answer to determine the risk of completing the transaction.