Abstract: A method for enhancing customer authentication and consent for finalizing an offer to a customer of a product and/or a service is provided. The method may include using a first receiver to receive an authentication request from an initiator. The authentication request may include a customer name and a customer phone number. The method may also include using a first processor to generate a pin number and transmit the pin number to the customer phone number. The pin number may include an identifier associated with the product and/or service. The method may further include using a second receiver, included in a mobile phone, to receive the pin number, and using a second processor, included on the mobile phone, to authenticate the pin number. The authentication may include verifying a match between the customer phone number and a mobile phone number associated with the mobile phone.

Abstract: Embodiments of the present invention are directed to an electronic funds transfer authentication system and method to facilitate the verification and authentication of a user and the ownership of the source account from which funds are being transferred to another account. The user and transfer data is validated, and then the electronic funds transfer is validated using payment analytics that analyze the behavioral characteristics of the user which may be derived from both internal and external sources of information. Using a unique combination of security measures and procedures, the risk associated with various types of fund transfers is reduced, thereby enabling a financial institution to protect its customers' accounts with a greater degree of certainty.