CPC G06Q 20/40 (2013.01) [G06Q 40/02 (2013.01)] | 20 Claims |
1. A computerized method for electronically verifying identity data of a customer, comprising:
issuing, from an account computer system, a financial instrument associated with an account for the customer without verifying the identity data of the customer;
receiving, at the account computer system from a merchant computer system associated with a merchant, a request to approve a financial transaction between the merchant and the customer using the financial instrument;
receiving, at the account computer system from the merchant computer system, a portion of identity data in response to a request for the customer to provide the portion of identity data from a customer identification document during the financial transaction;
updating, at the account computer system, an identity profile of the customer by combining the portion of identity data with different portions of previously received identity data that were previously received from different merchants during transactions between the customer and the different merchants;
comparing, at the account computer system, the identity profile to unverified identity data of the customer when a number of transactions with the financial instrument is greater than a first transaction threshold;
determining, by the account computer system, whether to maintain or terminate the account based on the comparing;
maintaining the account, by the account computer system, when the identity profile matches the unverified identity data, and
terminating the account, by the account computer system, when the customer identity profile does not match the unverified identity data.
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