30th August 2023: ISX Financial EU Plc is pleased to announce that its wholly owned subsidiary, ISX IP Ltd, has been advised of a decision to grant a further European Patent 3651096 on the 13th September 2023.
The term of this standard patent is 20 years from 02 April 2010, being the priority date of the patent application.
The invention compares current transactional data with challenges that demonstrate access to the primary account, in order to determine if the person initiating a current transaction has authority to do so.
The invention has application across authentication and anti-money laundering applications, and can be implemented by means of a software verification agent located at any aggregation point in the payment’s network.
Strong Customer Authentication (SCA) is a key component of the Payment Services Directive 2 (Directive (EU) 2015/2366), which also introduced “Open Banking” into the European Economic Area.
Commercialisation of the patent will be by Probanx Solutions Ltd, to coincide with the anticipated release of its updated core banking platform, CorePlus II in late 2023 / early 2024.
Patent can be be viewed by clicking on the link below.
https://worldwide.espacenet.com/patent/search?q=pn%3DEP3651096A1
