AU2013245498A1 - A system and method for facilitating financial transactions - Google Patents

Abstract

There is provided a system and method for enabling a user of a network enabled 5 mobile device and having a first account at a first financial institution to effect financial transactions in connection with a second account at a second financial institution different from the first financial institution using the mobile device, the mobile device having associated therewith an identifier and having been registered with the first financial institution for acquiring mobile payment service capabilities, 10 the system comprising (i) a system operator in communication with the first and second financial institutions, the system operator having a first system operator account at the first financial institution and a second system operator account at the second financial institution, and (ii) a connection between the mobile device and the system operator, wherein when the user requests a financial transaction using the 15 first account via the connection, the system operator authenticates the user through the identifier and after authentication, processes the financial transaction between the first and second accounts by the intermediary of the first and second system operator accounts. Cf)

Description

Regulation 3.2 AUSTRALIA PATENTS ACT, 1990 COMPLETE SPECIFICATION FOR A STANDARD PATENT ORIGINAL Name of Applicant: MAHMOUD ANASS MAHMOUD AL-SAHLI Actual Inventors: AL-SAHLI, Mahmoud Anass Mahmoud Address for service AJ PARK, Level 11, 60 Marcus Clarke Street, Canberra in Australia: ACT 2601, Australia Invention Title: A System And Method For Facilitating Financial Transactions The following statement is a full description of this invention, including the best method of performing it known to us.

2 TITLE OF THE INVENTION A SYSTEM AND METHOD FOR FACILITATING FINANCIAL TRANSACTIONS 5 CROSS REFERENCE TO RELATED APPLICATIONS [001] This application claims priority on Jordan Application No. 110/2008, filed on March 9, 2008, and is a divisional application of Australian patent application No 2008352864. 10 FIELD OF THE INVENTION [002] The present invention relates to a Subscriber Identity Module (SIM) Chip Bank System and method. In particular, the system and method enable users to 15 perform various bank (and other financial) operations and to acquire telecommunications services through the use of personal mobile phone with SIM chips installed thereon. BACKGROUND OF THE INVENTION 20 [003] The Internet has revolutionized the manner in which the financial services industry conducts business, in particular by providing customers with permanent accessibility through online and mobile banking business models, which alleviate the need for users to visit their correspondent financial institution. Typically, mobile 25 banking allows customers of a bank to use their mobile devices to access banking services at anytime and from any location through a web browser or using software applications downloaded to the mobile device. Further applications, such as mobile contactless payments or fund transfer between mobile devices, are under development. 30 [004] Still, one of the main challenges with current mobile banking systems is a lack of interoperability between different technology standards. In particular, a plurality of protocols is currently being used for mobile banking, thus making it difficult for mobile banking applications to connect multiple banks to provide 3 financial services between accounts held within different banks. Also, given the large variety of mobile devices currently on the market, it is a challenge for banks to offer mobile banking solutions on any type of device. In particular, some devices necessitate Wireless Application protocol (WAP) capabilities to have access to a 5 Uniform Resource Locator (URL) of the corresponding banking server, while others require installation of software applications on the mobile device (thus requiring the device to have relatively large memory capacity) or even complete replacement of the mobile device's Subscriber Identity Module (SIM) card with extended function SIM cards. In addition, most prior art banking systems require 10 service providers to be equipped with Point-Of-Sale (POS) terminals to confirm the occurrence of a transaction. Other systems necessitate special chips to be integrated in the mobile devices to enable users to remotely access Automated Teller Machines (ATMs), POS terminals and the like, which are in turn equipped with SIM card readers. As a result, the complexity of the overall system is 15 significantly increased. Moreover, strong security concerns arise as financial transactions are executed from remote locations. [005] What is therefore needed, and an object of the present invention, is a simplified and efficient SIM chip banking system that enables users to control their 20 financial and telecommunications resources from their mobile device. SUMMARY OF THE INVENTION [006] In order to address the above and other drawbacks, as a first aspect of the 25 invention, there is disclosed a method for enabling a user of a network enabled mobile device and having a first account at a first financial institution to effect financial transactions in connection with a second account at a second financial institution different from the first financial institution using the mobile device, the mobile device having associated therewith an identifier and having been registered with the first 30 financial institution for acquiring mobile payment service capabilities, the registration comprising associating the identifier with the first account, the method comprising: 4 providing a system operator in communication with the first and second financial institutions, the system operator having a first system operator account at the first financial institution and a second system operator account at the second financial institution 5 registering the mobile device with the system operator for acquiring mobile payment capabilities; establishing a connection between the mobile device and the system 10 operator; requesting a financial transaction between the first and second accounts via the connection; 15 authenticating, by the system operator, the user through the identifier; and after authentication, processing the financial transaction between the first and second accounts by the intermediary of the first and second system operator accounts. 20 [007] As another aspect of the invention, there is provided a system for enabling a user of a network enabled mobile device and having a first account at a first financial institution to effect financial transactions in connection with a second account at a second financial institution different from the first financial institution using the 25 mobile device, the mobile device having associated therewith an identifier and having been registered with the first financial institution for acquiring mobile payment service capabilities, the registration comprising associating the identifier with the first account, the system comprising: a system operator in communication with the first and second financial 30 institutions, the system operator having a first system operator account at the first financial institution and a second system operator account at the second financial institution ; and a connection between the mobile device and the system operator; 5 wherein when the user requests a financial transaction using the first account via the connection, the system operator authenticates the user through the identifier and after authentication, processes the financial 5 transaction between the first and second accounts by the intermediary of the first and second system operator accounts. [008] As a further aspect of the invention, there is provided a system for enabling users of network enabled mobile devices to effect financial transactions by directly 10 accessing financial institution accounts at registered member financial institutions using the mobile devices, the mobile devices having associated therewith identifiers, the system comprising: a system operator running applications configured to receive financial 15 requests to effect financial transactions from users through the network enabled mobile devices, to retrace the identifiers associated with the received financial requests, to authenticate the users using the identifiers, to map the users to their respective member financial institutions among the registered member financial institutions using the identifiers, to establish 20 communication channels with the users and with the member financial institutions through corresponding financial institution systems having applications compatible with and pre-configured to operate with the system operator, and to intermediate between the users and the member financial institutions using the communication channels in order to facilitate the 25 financial transactions, where the intermediation process comprises exchanging financial information in an automated and pre-defined manner. [009] Other objects, advantages and features of the present invention will become more apparent upon reading of the following non-restrictive description of 30 specific embodiments thereof, given by way of example only with reference to the accompanying drawings.

6 BRIEF DESCRIPTION OF THE DRAWINGS [010] In the appended drawings: 5 [011] Figure 1 is a schematic diagram of a Subscriber Identity Module SIM Chip Bank system in accordance with an illustrative embodiment of the present invention; 10 [012] Figure 2 is a detailed schematic diagram of a Subscriber Identity Module SIM Chip Bank system in accordance with an illustrative embodiment of the present invention; [013] Figure 3 is a flowchart of a method implemented in a Subscriber Identity 15 Module SIM Chip Bank system in accordance with an illustrative embodiment of the present invention; [014] Figure 4 is a flowchart of financial transaction process implemented in a Subscriber Identity Module SIM Chip Bank system in accordance with an 20 illustrative embodiment of the present invention; [015] Figure 5 is a schematic diagram of a Subscriber Identity Module SIM Chip Bank system Automated Teller Machine in accordance with an illustrative embodiment of the present invention; and 25 [016] Figure 6 is a schematic diagram of a Subscriber Identity Module SIM Chip Service Providing Machine in accordance with an illustrative embodiment of the present invention. 30 7 DETAILED DESCRIPTION OF THE ILLUSTRATIVE EMBODIMENTS [017] The present invention is illustrated in further details by the following non limiting examples which are illustrated with respect to banks. However a person 5 skilled in the art should appreciate that the same system and method are applicable for any financial institution (and not necessarily a bank) providing user accounts. [018] Referring now to Figure 1, and in accordance with an illustrative 10 embodiment of the present invention, a Subscriber Identity Module (SIM) Chip Bank system (SCB-system), generally referred to using the reference numeral 10, will now be described. The SCB-system 10 comprises a SIM Chip Bank System Operator (SCB-O) 12 in communication with a plurality (illustratively two (2)) of users as in 141, 142, banks (or other financial institutions) as in 161, 162, and 15 wireless communication network providers (e.g. operator systems using the Global System for Mobile communications (GSM) standard) as in 181, 182 for enabling the users as in 141, 142 to remotely effect financial transactions as well as access telecommunication services through their network enabled mobile devices (references 241 and 242 in Figure 2). In addition, the SCB-system 10 further 20 enables users as in 141, 142 to access banking (or other financial institution related) terminals as in 20, such as an SCB-system Automated Teller Machine (SC-ATM), to perform withdrawals of banknotes, cash transfers, or the like through the GSM networks as in 181, 182 using the mobile devices 241, 242. The system 10 further allows communication with SIM Chip Service Providing Machines 25 (SCSPMs) as in 22, which provide users with a plurality of services such as beverage and food vending or fuel pumping. [019] Referring now to Figure 2 in addition to Figure 1, the mobile devices 241, 242 illustratively include cellular phones, Personal Digital Assistants (PDAs), smart 30 phones, and the like, which are equipped with a SIM chip (not shown). To access services of the SCB-system 10, the user 141, 142 illustratively registers with the SCB-O 12 for the services by registering the mobile device 241, 242 (by registering a unique identifier related to the mobile device) and/or the unique identifier associated with the device's SIM chip (for example, the MSISDN or phone number 8 associated with the SIM chip). This advantageously enables users as in 141, 142 to control their financial and telecommunication resources via their personal mobile device as in 2 4 1, 242 without having to modify either the mobile device as in 2 4 1, 242 or the SIM chip. In this optic, users do not need to store financial information 5 or any other extrinsic information and/or identifiers on the mobile device and/or the SIM chip. The registration process comprises registering the mobile device and/or SIM chip unique identifier with the system operator and with the financial institution (i.e. bank) for acquiring mobile payment capabilities. The registration with the system operator and the financial institution comprises associating the unique 10 mobile and/or SIM chip identifier with the user, his/her financial institution and financial (bank) account and storing the information in the SCB-O Customer Database accessible to the system operator (38) and the SCB-O Customer Database accessible to the first bank (48). The SIM chip/mobile device identifier along with the user identity user financial (bank) account can be stored in both 15 databases 38 and 48. Preferably, the registration at the system operator consists of registering the SIM chip and/or mobile identifier along with an indication of the user financial institution, and the registration at the financial institution (bank) consists of registering the SIM chip and/or the mobile device identifier in association with the user identity to which the financial (bank) account is mapped. 20 In doing so, the financial (bank) account information (which is considered sensitive information) remains confidential between the user and his/her financial institution without sharing it with the system operator. However, a person skilled in the art should appreciate that the registration process can be carried out in a plurality of ways in such a manner to permit the system operator and the financial institution 25 (i.e. bank) to ultimately associate the SIM chip and/or mobile identifier with the user financial account. The financial requests are initiated by the users using the mobile devices and comprise details about the desired financial transaction to conduct (e.g. transfer of US$ 3000 to RBC, account number 53254114563). Referring now to Figure 2, the SCB-O 12 illustratively comprises an authentication 30 system 26, an automatic answering system 28, such as an Interactive Voice Response (IVR) system, a customer service manager system 30, a services risk monitoring system 32 and an intra-connection services system 34, all of which are connected via suitable communications means (not shown) such as a local area network (LAN) or the like. As illustrated in Figures 2 and 3, the authentication 9 system 26 illustratively receives incoming communications (e.g. voice calls over GSM call lines as in 36 or incoming data such as text messages or web requests or the like) from the mobile devices as in 241, 242 of users 141, 142 wishing to access the financial services. After verifying the identity of the mobile devices as in 5 241, 242, the authentication system 26 diverts (via a switch or the like, not shown) the incoming calls to the appropriate system. The verification is carried out by determining the mobile phone and/or SIM chip used to initiate the communication by tracing out the SIM chip and/or mobile unique identifier used to initiate the communication. Equipments configured to trace out the SIM chip and/or mobile 10 unique identifiers are well known in the art. Examples of said equipments comprise Equipment Identity Registers and generic calling switches provided by Ericsson, Nortel and Panasonic who have a built systems to identify any calling number (Caller ID Service). 15 [020] As illustrated in Figures 2 and 3, if the user 141 is not successfully authenticated (i.e. the mobile device 241 is not registered), the call is directed to the customer service manager system 30, which handles customer service issues (e.g. unauthorized access, troubleshooting, etc.) arising in the SCB-system 10. For this purpose, the customer service management system 30 illustratively comprises 20 a plurality of SCB-O application servers (not shown) and is connected to an SCB o customer database 38 having stored therein information related to users ( preferably, SIM chip/mobile unique identifier and an indication of the corresponding financial institution) as in 141, 142 registered with the system 10. Alternatively, if the user 141, 142 is successfully authenticated (i.e. the identifier associated with the 25 device's SIM chip matches the information stored in the SCB-O customer database 38), the user is requested to specify the desired financial transaction. In the preferred embodiment, the call is transferred to the IVR system 28. The IVR system 28 illustratively comprises a plurality of IVR servers (not shown) and is connected to an IVR repository database 40, which contains information (i.e. 30 financial transactions available to users) which are presented to users as in 141, 142 in a form of a menu for directing the latter to the desired requested service, as discussed in further detail herein below. Alternatively, when the communication initiated by the user is essentially data (such as a text message), the user can specify upfront in the message the financial transaction desired which is only 10 processed by the system operator if the user is successfully authenticated. In another alternative option, the user is given the opportunity of specifying the financial transaction only when he/she is successfully authenticated. 5 [021] Still referring to Figure 2, once the users 141, 142 have been authenticated and directed to the desired requested service, the intra-connection services system 34 is used to direct the flow of transactions and orders via a router (not shown) between the banks (or financial institutions) as in 161, 162, the GSM providers as in 181, 182, the SC-ATM 20, the SCSPM 22 and the authorized users 10 as in 141, 142. Illustratively, transactions and orders are transmitted by the intra connection services system 34 to the financial institutions (banks) as in 161, 162 and GSM providers as in 181, 182 over secure leased Internet connections as in 42 (e.g. using a Secure Sockets Layer (SSL) protocol) or any other suitable means of connection and to the SC-ATM 20 and/or SCSPM 22 via the GSM call lines as in 15 36. The SCB-O transmits to the financial institution the SIM chip/mobile unique identifier traced out by the authentication system and the financial transaction desired to be conducted by the user. Security is further implemented by the services risk monitoring system 32, which monitors transactions effected by the users as in 141, 142 to block and prevent fraud. 20 [022] Still referring to Figure 2, the financial institutions (banks) as in 16 1, 162 illustratively each comprise a bank integration services system 44, which communicates with the intra-connection services system 34 of the SCB-O 12 to receive transaction orders and respond with the requested transactions. 25 Illustratively, each bank integration services system 44 comprises an extra integration system 45, which is part of the integration process performed by the financial institution (bank) 16 1, 162. For this purpose, once transactions and orders are received from the SCB-O 12 via the connections as in 42, each extra integration system 45 establishes a communication channel (or Confirmation 30 Request) 43 between a financial institution (bank) 16 1, 162 and a mobile device 24 1, 242 of a user 141, 142 wishing to access the services. This is done once the bank determines if said mobile device is a registered mobile device by inquiring the SCB-O Database (48) accessible to the bank for determining if there is a match with the SIM chip identifier received from the system operator. The communication with the 11 user is illustratively through any suitable communication means (e.g. IVR, Short Message Service (SMS), or Multimedia Messaging Service (MMS)) and provides a customer 141, 142 contacted by a financial institution (bank) 241, 242 with a choice between confirming, modifying or cancelling the transaction order prior to 5 processing thereof. This also comprises a further authentication of the user. [023] Still referring to Figure 2, each financial institution (bank) 161, 162 further comprises a customer services management system 46 connected to a local SCB 0 customer database 48 that holds customer information (i.e. SIM chip identifiers 10 and corresponding bank account information). The customer services management system 46 illustratively retrieves the stored customer information to identify a user 141, 142 requesting a specific financial transaction, as relayed by the SCB-O 12. Upon identifying and authenticating the user 141, 142, transactions and/or other services to the corresponding financial account of the user 1 4 1, 142 15 are then issued by the financial institution (bank) 161, 162. The financial institution (bank) 161 (or alternatively the financial institution (bank) 162) further comprises a customer data integration and registration system 50 that allows the financial institution (bank) 161 to register new users as in 141, 142 (upon request from the customer services management 30 of the SCB-0, for example). A core bank 20 integration system 52 is further provided at the financial institution (bank) 162 in the event where the financial institutions (banks) 161, 162 are linked via a financial network 54 that enables direct financial transactions and services between financial accounts held in both financial institutions (banks) 161, 162, as will be discussed further herein below. 25 [024] Still referring to Figure 2, the GSM operator systems as in 181, 182 illustratively each comprise a GSM operator integration services system 56, which communicates with the intra-connection services system 34 of the SCB-0 12 to receive transaction orders and respond with the requested transactions. For 30 example, the GSM operator systems as in 181, 182 obtain customer information associated with the users as in 141, 142 and assess the GSM number validity of the mobile devices as in 241, 242. Similarly to the financial transaction systems as in 161, 162, the GSM operator systems as in 181, 182 illustratively comprise a customer services management system 58 connected to a local SCB-0 customer 12 database 60 for providing requested services to authenticated users as in 141, 142. The GSM operator systems as in 181, 182 further comprise a customer data integration and registration system 62 that similarly allows to register new customers as in 141, 142. 5 [025] Still referring to Figure 2, the SC-ATM system 20 and the SCSPM 22 similarly illustratively comprise a GSM operator integration services system 64, which communicates with the SCB-O 12 to obtain transaction orders through voice and visual validations for example, a customer services management system 66 10 connected to a SCB-O customer database 68 and a customer registration system 70, all of which perform functions similar to the functions of the customer services management system 58, the SCB-O customer database 60, and the customer data integration and registration system 62 described herein above. 15 [026] Referring now to Figure 3 in addition to Figure 2, provided the GSM provider system 181, 182 is affiliated with the SCB-system 10, there is no need for a user 141, 142 to replace or modify the SIM chip currently installed on the mobile device 241, 242 as the SCB-system 10 allows any SIM chip to be registered in the system 10 regardless of the type of mobile device 241, 242 used. Illustratively, 20 upon registration with the SCB-system 10 through the financial institution (bank) 16 1, 162 that the user 141, 142 is affiliated with, the SIM chip, which is illustratively either pre-paid and/or post-paid, is associated with the financial account held by the registered user 141, 142 at the financial institution (bank) 16 1, 162. Illustratively, the unique mobile phone number associated with the mobile device 24 1, 242 and 25 stored on the SIM chip is used to identify the user 141, 142 at the SCB-O 12 (together with an associated password, for example a number of digits such as a PIN, and/or letters, and/or voice recognition). This unique identity ensures that the user 141, 142 can securely access the services provided by the system 10. In this manner, a SIM chip may illustratively be identified with the same unique 30 identification at the SCB-O 12, the financial institutions (banks) as in 16 1, 162, and the GSM providers as in 181, 182. [027] Still referring to Figure 3 in addition to Figure 2, more than one mobile phone number may also belong to the same user 141, 142 and mobile device 241, 13 242 and in this case, the user holds more than one SIM chip, with each SIM chip associated with a unique mobile phone number. Each mobile phone number is 10 then subsequently identified by the SCB-O 12 and associated to the financial account of the user 141, 142.Accordingly, more than one SIM chip may be 5 assigned by the SCB-system 10 to a single account (as a given user may have one or more mobile phones with unique SIM cards in his possession), with the degree of access granted by any number of SIM chips being pre-determined. In this manner, the user 141, 142 would illustratively be provided access to varied services (e.g. effect different financial transactions as described herein above) 10 depending on the SIM chip installed on the mobile device 241, 242. For example, extra SIM chips may be allowed to connect to the services of the SCB-system 10 using the main identification yet be limited in function to a predetermined set of transactions (e.g. allowed to receive payment reports only but having no access to other services). Updated detailed financial and GSM information corresponding to 15 a given identity is illustratively made readily available and synchronized in the SCB-system 10 through the leased line connections as in 42 between the SCB-O 12, the financial institutions (banks) as in 161, 162, and the GSM operator systems as in 181, 182. 20 [028] Still referring to Figure 3 in addition to Figure 2, a method 100 for handling financial transactions between registered users (references 14, and 142 in Figure 1) according to an illustrative embodiment of the present invention will now be described. Illustratively, a user 14, having an active financial account held with a financial institution (bank) 16, providing SCB services connects to the SCB-system 25 10 at 102 using the unique identifier (i.e. the mobile phone number) associated with the registered SIM chip. The connection is illustratively implemented by the mobile device 241 initiating a communication at 104 with the SCB-O 12 using the GSM call line 36 to dial the publicly known customer service number of the SCB-O 12. The communication is a combined voice and data connection and may be in 30 the form of a voice call, a text message using the SMS protocol, a voice message, a call or message initiated on the mobile device 24, via the Internet, or an email. Once the communication (illustratively a voice call) is established, the customer authentication system 26 within the SCB-O 12 checks at 106 the mobile phone number associated with the SIM chip of the device 241 to identify whether the user 14 141 desiring to access the services of the SCB-system 10 is registered in the SCB system 10 with the SCB-O 12. If the user 141 is not registered, the system 10 blocks the device 241 from accessing the services at 108 and the call is directed to the customer services management system 30 (as discussed herein above). 5 Otherwise, the customer authentication system 26 transfers the call to the IVR system 28, which illustratively responds with pre-recorded or dynamically generated audio and presents at 110 the mobile device 241 with a menu of potential financial transactions available using the account to further direct the user 141 on how to process and enable selection (illustratively using a keypad 10 comprised in the mobile device 241) of a desired transaction. [029] Still referring to Figure 3 in addition to Figure 2, a list of possible transactions is illustratively detailed in the menu presented to the mobile device 241 and comprises bank (financial) services, GSM services, services provided by 15 the SCSPM 22 and services provided by other utility service providers (e.g. water or electricity providers). Examples of bank (financial) services (provided at 112a and 112b) include regular bank (financial) services, such as obtaining financial account details (e.g. bank balance, line of credit, mortgage), and extended bank services such as bill payment, fund transfers to any other account held in the bank 20 (financial institution)161, macro or micro person-to-person payments among users as in 141, 142, credit services payments, or access to SC-ATMs as in 20. Examples of GSM services (provided at 114) include detailed calling information for the mobile device 241, invoice details and payment, Asymmetric Digital Subscriber Line (ADSL) orders and any other telecommunication services provided 25 by the SCB-system 10. [030] Referring now to Figure 4 in addition to Figure 2, in order to request a transfer of funds from a first user 141 to a second user 142, user 141 illustratively contacts the SCB-O 12 at 202 (and connects thereto using its unique ID number 30 and password). The SCB-O 12 then verifies the ID number and password provided by the user 141 to ensure that the user is currently registered with the system 10 and has an active status. Once the user 141 has been authenticated, he SCB-O 12 contacts the financial institution (bank) 161 to which user 141 belongs to fetch the user's banking details as well as to request at 204 either a fund transfer from the 15 financial account of user 141 to a financial account held by the SCB-O 12 in the same financial institution (bank) 161 or alternatively a fund holding from the financial account of user 141 for subsequent settlement with the SCB-O 12. Upon receiving this request, the financial institution (bank) 161 (after contacting the user 5 141, 142 via the extra integration system 45 to confirm, change, or cancel the transaction order, as mentioned herein above) either accepts or refuses the transaction and, upon approval of the latter, processes (using for example a suitable workstation, not shown) and confirms the transaction to the SCB-O 12 at 206. At 208, the SCB-O 12 then contacts the financial institution 162 to which user 10 142 belongs (after having ensured that user 142 is currently registered within the system 10) to issue an order to debit the SCB-O financial account and credit the financial account of user 142. If no financial account exists for the SCB-O 12, the financial institution 162 instead deposits the funds in the financial account of user 142 and subsequently requests settlement from the SCB-O 12. Upon completion of 15 the transaction, financial institution (bank) 162 sends at 210 a confirmation message of success (or alternatively failure) to the SCB-O 12, which subsequently reports the confirmation to both users 141, 142 at 212 and 214 respectively. [031] Still referring to Figure 4 in addition to Figure 2, the SCB-system 10 is 20 capable of providing a financial network 54 between the financial institutions (banks) 161, 162, the need for a correspondent financial account held by the SCB 0 12 can be alleviated and the fund transfer transaction described herein above may be processed directly between the financial institutions (banks) 161 and 162 by moving funds from the sender's account to the receiver's account over the network 25 54. In this case, the SCB-O 12 solely forwards the fund transfer requests and transaction confirmation message. [032] Referring now to Figure 5 in addition to Figure 2 and Figure 4, the system 10 enables users as in 141, 142 to access a SC-ATM 20 connected to the SCB 30 system 10. Illustratively, the SC-ATM 20 is implemented as a standard ATM machine modified to include a registered SIM chip 72 having assigned thereto a unique ATM identifier or ID number 74 in the SCB-system 10, an intercommunication device (intercom) 76 and optionally a camera 78 for receiving calls from the SCB-O 12 and providing visual confirmation (e.g. by initiating a third 16 generation (3G) mobile phone video conference) of the identity of a user 141, 142 in relation to a requested service. Similarly to requests for financial transactions, a user 141 requesting the use of a particular SC-ATM 20 illustratively connects to the SCB-O 12 at 202 in order to have access to the SC-ATM 20. The SCB-O 12 in turn 5 verifies the identity of user 141 and upon positive authentication, the IVR system 28 within the SCB-O 12 queries the user 141 for the ID number 74 of the SC-ATM 20. The SCB-O then connects the user 141 to the specific SC-ATM 20 at 216 by opening via the intercom 76 and camera 78 and for a predetermined time interval a live visual and vocal channel connection (may be recorded for security and legal 10 purposes) between the user 141 and the SC-ATM 20. The user 141 then initiates a transaction, such as a request for withdrawal of banknotes, from the SC-ATM 20. If the SC-ATM 20 belongs to the financial institution (bank) 161, to which user 141 is affiliated, the SCB-O 12 connects to the financial institution (bank) 161 at 204 to request approval of the transaction, upon which approval the financial account of 15 user 141 is debited and the money presented to the user 141 via the SC-ATM 20 in a conventional manner. Alternatively, if the SC-ATM 20 belongs to a financial institution (bank) 162 other than financial institution (bank) 161, the SCB-O 12 illustratively connects to the financial institution (bank) 162 at 208 to request the financial transaction and, upon completion thereof, the financial institution (bank) 20 162 requests a financial settlement from the SCB-O 12 corresponding to the monetary amount disbursed. A confirmation message that the transaction was successfully completed (or alternatively failed) is then sent at 212 to the user 141. [033] Referring now to Figure 6 in addition to Figure 2, when the user 141 wishes 25 to connect to a SCSPM 22, such as a gas pump, the IVR system 28 illustratively similarly queries the user 141 for the ID number (SPM identifier) of the SCSPM 22 associated with the SIM chip 72 integrated therein. Upon entry of the requested ID number, the SCB-O then connects the user 141 to the specific SC-ATM 20 at 216 by opening via the intercom 76 and camera 78 and for a predetermined time 30 interval a live two-way visual and vocal channel connection between the user 141 and the SCSPM 22. The SCB-O then queries and confirms the monetary amount to be paid prior to issuing an order to the financial institution (bank) 161 to transfer the requested amount to the SCSPM 22. Financial settlement between the financial institution (bank) (not shown) the SCSPM 22 is affiliated with and the 17 financial institution (bank) 161 is illustratively processed in a manner similar to settlements discussed herein above. A confirmation message that the transaction was successfully completed (or alternatively failed) is then illustratively sent to the user 141. 5 [034] Referring back to Figure 1, the SCB-system 10 of the present invention advantageously allows users as in 141, 142 to perform direct and comprehensive bank services and cashless payments directly through their financial account without having to apply for a new bank card. Also, whereas most prior art systems 10 require service providers to be equipped with Point-Of-Sale (POS) terminals to confirm occurrence of the transaction, the present invention alleviates the need for such POS terminals to obtain confirmation. Also, the present invention overcomes security concerns by using the unique identification (e.g. mobile phone number) associated with the SIM chip of the mobile device 241, 242. As such, there is no 15 need for special SIM chips to be integrated in the mobile devices as in 241, 242 to provide users as in 141, 142 access to the SC-ATM 20 and/or SCSPM 22 and any SIM chip (and thus any mobile device 2 4 1, 242) may be registered with the system 10. Moreover, the present invention allows person-to-person transactions from any user 141, 142 to another user 141, 142, even if the other user 141, 142 is affiliated 20 with a different bank 161, 162.

Claims (60)

1. A method for enabling a user of a network enabled mobile device and having a 5 first account at a first financial institution to effect financial transactions in connection with a second account at a second financial institution different from the first financial institution using the mobile device, the mobile device having associated therewith an identifier and having been registered with the first financial institution for acquiring mobile payment service capabilities, the registration comprising associating the 10 identifier with the first account, the method comprising: providing a system operator in communication with the first and second financial institutions, said system operator having a first system operator account at the first financial institution and a second system operator account 15 at the second financial institution ; registering the mobile device with the system operator for acquiring mobile payment capabilities; 20 establishing a connection between the mobile device and said system operator; requesting a financial transaction between the first and second accounts via said connection; 25 authenticating, by said system operator, the user through the identifier; and after authentication, processing said financial transaction between said first and second accounts by the intermediary of said first and second system 30 operator accounts.

2. The method of claim 1, further comprising the first financial institution communicating with the user for confirming said request prior to effecting said financial transaction. 19

3. The method of any one of claims 1 to 2, wherein said process of establishing a connection between the mobile device and the system operator and said process of requesting a financial transaction between the first and 5 second accounts are carried out independently of any financial application or financial-related data stored on the mobile device.

4. The method of any one of claims 1 to 3, wherein the mobile device comprises a smart card comprising a generic SIM chip programmed with the 10 identifier.

5. The method of claim 4, wherein the identifier is a mobile phone number, the SIM chip being programmed independently of and without regard to any use thereof in connection with financial transactions. 15

6. The method of any one of claims 1 to 5, wherein said connection is a SSL connection.

7. The method of claim 3, said first financial institution communicating with the 20 user comprising establishing a communication channel between the mobile device and the first financial institution for obtaining at the financial institution confirmation, modification, or cancellation of said financial transaction.

8. The method of any one of claims 1 to 7, wherein said financial transaction is 25 selected from a menu of potential financial transactions available using the account.

9. The method of claim 8, wherein the mobile device comprises a keypad and the user selects one of said potential financial transactions using the keypad. 30

10. The method of any one of claims 1 to 9, wherein said financial transaction is selected from a menu of potential financial transactions provided by an Interactive Voice Response system. 20

11. The method of claim 3, wherein said connection is a combined voice and data connection and wherein said confirming said request comprises authenticating a voice of the user. 5

12. The method of any one of claims 1 to 5, further comprising providing a banking terminal interconnected with said system operator and wherein requesting a financial transaction comprises withdrawal of banknotes from said banking terminal. 10

13. The method of claim 12, wherein said banking terminal is affiliated with said second financial institution and wherein upon effecting said withdrawal of banknotes from said banking terminal, said second financial institution requests financial settlement from said system operator. 15

14. The method of any one of claims 12 to 13, wherein said banking terminal is an ATM having an ATM SIM chip installed thereon, said ATM SIM chip programmed with a unique ATM identifier associated with said ATM, said ATM identifier registered with said system operator. 20

15. The method of any one of claims 12 to 13, wherein said banking terminal comprises an intercommunication device and a camera, and further wherein said system operator opens via said intercommunication device and said camera a live visual and vocal connection and wherein said confirming said request comprises confirming an identity of the user via said live visual and vocal connection. 25

16. The method of any one of claims 1 to 5, further comprising a service providing machine in communication with said system operator and wherein requesting a financial transaction comprises transferring funds in payment for a service provided to the user by said service providing machine, wherein said service providing machine is 30 associated with said second account and wherein requesting a financial transaction comprises transferring funds from the first account to the second account held by said service providing machine at the second financial institution. 21

17. The method of claim 16, wherein said service providing machine has a SPM SIM chip installed thereon, said SPM SIM chip having stored therein a unique SPM identifier, said SPM identifier registered with said system operator. 5

18. The method of any one of claims 16 to 17, wherein said service providing machine is selected from the group consisting of a food vending machine, a beverage vending machine, and a fuel pump.

19. The method of any one of claims 16 to 18, wherein said service providing 10 machine comprises an intercommunication device and a camera, and further wherein said system operator opens via said intercommunication device and said camera a live visual and vocal connection and wherein said confirming said request comprises confirming an identity of the user via said live visual and vocal connection. 15

20. The method of any one of claims 1 to 19, wherein the identifier enables the user to effect a first predetermined set of financial transactions using the first account. 20

21. The method of claim 20, further comprising associating a second identifier with the mobile device, said registering comprising associating said second identifier with the first account, and said authenticating comprising authenticating the user through said second identifier. 25

22. The method of claim 21, further comprising installing in the mobile device a second smart card comprising a second SIM chip programmed with said second identifier, said second identifier being a second mobile phone number.

23. The method of claim 21, wherein said second identifier enables the user to 30 effect a second predetermined set of financial transactions using the account, said second set being different from said first set.

24. A system for enabling a user of a network enabled mobile device and having a first account at a first financial institution to effect financial transactions in connection 22 with a second account at a second financial institution different from the first financial institution using the mobile device, the mobile device having associated therewith an identifier and having been registered with the first financial institution for acquiring mobile payment service capabilities, the registration comprising associating the 5 identifier with the first account, the system comprising: a system operator in communication with the first and second financial institutions, said system operator having a first system operator account at the first financial institution and a second system operator account at the second 10 financial institution ; and a connection between the mobile device and said system operator; wherein when the user requests a financial transaction using the first 15 account via said connection, said system operator authenticates the user through the identifier and after authentication, processes said financial transaction between said first and second accounts by the intermediary of said first and second system operator accounts. 20

25. The system of claim 24, wherein said first financial institution communicates with the user for confirming said request prior to effecting said financial transaction.

26. The system of any one of claims 24 to 25, wherein said connection 25 between the mobile device and the system operator and financial transaction request between the first and second accounts are carried out independently of any financial application or financial-related data stored on the mobile device.

27. The system of any one of claims 24 to 26, wherein the mobile device 30 comprises a smart card comprising a generic SIM chip programmed with the identifier. 23

28. The system of claim 27, wherein the identifier is a mobile phone number, the SIM chip being programmed independently of and without regard to any use thereof in connection with financial transactions. 5

29. The system of any one of claims 24 to 28, wherein said connection is a SSL connection.

30. The system of claim 25, wherein the first financial institution comprises an integration system for establishing a communication channel between the mobile 10 device and the first financial institution for obtaining at the first financial institution confirmation, modification, or cancellation of said financial transaction subsequent to said request.

31. The system of any one of claims 24 to 30, wherein said financial transaction 15 is selected from a menu of potential financial transactions available using the first account.

32. The system of claim 31, wherein the mobile device comprises a keypad and the user selects one of said potential financial transactions using the keypad. 20

33. The system of claim 31, wherein said financial transaction is selected from a menu of potential financial transactions provided by an Interactive Voice Response system. 25

34. The system of claim 31, wherein said connection is a combined voice and data connection and wherein said confirming said request comprises authenticating a voice of the user.

35. The system of any one of claims 24 to 28, further comprising a banking 30 terminal interconnected with said system operator and wherein said financial transaction comprises withdrawal of banknotes from said banking terminal.

36. The system of claim 35, wherein said banking terminal is affiliated with said second bank and further wherein upon effecting said withdrawal of banknotes from 24 said banking terminal, said second financial institution requests financial settlement from said system operator.

37. The system of any one of claims 38 to 36, wherein said banking terminal is 5 an ATM comprising an ATM SIM chip installed thereon, said ATM SIM chip programmed with a unique ATM identifier associated with said ATM, said ATM identifier registered with said system operator.

38. The system of any one of claims 38 to 37, wherein said banking terminal 10 comprises an intercommunication device and a camera, and further wherein said system operator opens via said intercommunication device and said camera a live visual and vocal connection and wherein said confirming said request comprises confirming an identity of the user via said live visual and vocal connection. 15

39. The system of any one of claims 24 to 28, further comprising a service providing machine in communication with said system operator and wherein requesting a financial transaction comprises transferring funds in payment for a service provided to the user by said service providing machine, wherein said service providing machine is affiliated with said second account and wherein requesting a 20 financial transaction comprises transferring funds from the first account to the second account held by said service providing machine at the second financial institution.

40. The system of any one of claims 38 to 39, wherein said service providing machine comprises a SPM SIM chip installed thereon, said SPM SIM chip having 25 stored therein a unique SPM identifier, said SPM identifier registered with said system operator.

41. The system of any one of claims 38 to 40, wherein said service providing machine is selected from the group consisting of a food vending machine, a 30 beverage vending machine, and a fuel pump.

42. The system of any one of claims 38 to 41, wherein said service providing machine comprises an intercommunication device and a camera, and further wherein said system operator opens via said intercommunication device and said 25 camera a live visual and vocal connection and authenticates said unique identifier by confirming an identity of the user via said live visual and vocal connection.

43. The system of claim 38, wherein said financial transaction comprises 5 transferring funds from the first account to a second account held by said service providing machine at a second financial institution.

44. The system of claim 43, wherein said second financial institution is different from the first financial institution, and further wherein upon completion of said 10 transfer of funds, said second financial institution requests financial settlement from said system operator.

45. The system of any one of claims 24 to 43, wherein the identifier enables the user to effect a first predetermined set of financial transactions using the account. 15

46. The system of claim 45, wherein a second identifier is associated with the mobile device, said second identifier associated with the account during the registration, and further wherein when the user requests a financial transaction using the first account, said system operator authenticates the user through said 20 second identifier.

47. The system of claim 46, wherein the mobile device has installed therein a second smart card comprising a second SIM chip programmed with said second identifier, said second identifier being a second mobile phone number. 25

48. The system of claim 47, wherein said second identifier enables the user to effect a second predetermined set of financial transactions using the account, said second set being different from said first set. 30

49. A system for enabling users of network enabled mobile devices to effect financial transactions by directly accessing financial institution accounts at registered member financial institutions using the mobile devices, the mobile devices having associated therewith identifiers, the system comprising: 26 a system operator running applications configured to receive financial requests to effect financial transactions from users through said network enabled mobile devices, to retrace the identifiers associated with the received financial requests, to authenticate said users using said identifiers, to map said users to their respective 5 member financial institutions among said registered member financial institutions using said identifiers, to establish communication channels with said users and with said member financial institutions through corresponding financial institution systems having applications compatible with and pre-configured to operate with said system operator, and to intermediate between said users and said member 10 financial institutions using said communication channels in order to facilitate said financial transactions, where said intermediation process comprises exchanging financial information in an automated and pre-defined manner.

50. The system as claimed in claim 49 wherein said financial requests consist 15 of fund transfer requests and said financial transactions consist of fund transfers from a first account associated with a first financial institution to a second account associated with a second financial institution different from said first financial institution, where said first and second financial institutions are among said registered member financial institutions. 20

51. The system as claimed in claim 50, wherein said first account is associated with a first user among said users and said second account is associated with a third party, where said first user uses a first mobile device associated with a first identifier to effect said fund transfers. 25

52. The system as claimed in claim 51 further comprising a first database storing records mapping each identifier among said identifiers to a specific user among said users and to a specific financial institution account associated with a specific financial institution among said registered member financial institutions, 30 wherein said authentication by said system operator comprises inquiring said first database for verifying if said identifier is in the records upon reception of a financial request from said first user using said first mobile device. 27

53. The system as claimed in claim 52, wherein said intermediation process by said system operator comprises automatically identifying said first financial institution account by inquiring said first database using said first identifier upon authentication of the first user, and generating and transmitting via said 5 communication channels a fund transfer request to said first financial institution, where said fund transfer request comprises an identification of said first financial institution account, an identification of said second financial institution account and a specification of a requested transfer amount. 10

54. The system as claimed in claim 53, further comprising a second database, and wherein said intermediation process further comprises receiving, by said system operator, a fund transfer commitment from said first financial institution, storing said fund transfer commitment in said second database for future reference, and transmitting an indication of said fund transfer commitment to said 15 second financial institution and to at least one of said first user and said third party.

55. The system as claimed in claim 54, wherein said intermediation process further comprises generating a financial report in connection with said fund transfer request, and storing said report in said second database for future reference. 20

56. The system as claimed in any one of claims 51 to 55, wherein said third party is a second user among said users.

57. The system as claimed in any one of claims 51 to 55, wherein said system 25 operator is further configured to be connected to a service providing machine associated with said third party, and wherein said fund transfers consist of payment for services provided to the first user by said service providing machine.

58. The system as claimed in any one of claims 51 to 55, wherein said system 30 operator is further configured to be connected to a banking terminal associated with said third party, and wherein said fund transfers are for settlement for banknotes withdrew from said banking terminal by said first user. 28

59. The system as claimed in any one of claims 49 to 58, wherein said mobile devices are ubiquitous mobile devices having generic SIM chips, the SIM chips having associated therewith the identifiers, the identifiers being mobile phone numbers, the SIM chips being programmed independently of and without regard 5 to any use thereof in connection with financial transactions.

60. The system as claimed in any one of claims 49 to 59, wherein said system operator has system operator accounts in at least a part of said registered member financial institutions, and said intermediation process further comprises 10 processing said financial transactions by the intermediary of at least a part of said system operator accounts.