SYSTEM AND METHOD FOR FINANCIAL TRANSACTION AUTHENTICATION USING TRAVEL INFORMATION

1 . A method in a computing system, comprising:

storing an indication of a pending travel event in a travel analysis platform, the indication of the travel event generated based on a travel-related financial transaction;

generating a current location of a user based on the stored indication of the travel event in the travel analysis platform;

receiving a current transaction authorization request from a point of service;

generating a transaction approval indication when a location of the current transaction authorization request and the generated current location of the user, based on the indication of the travel event in the travel analysis program, are within a predetermined distance; and

transmitting to a bank, a request to communicate a transaction approval indication to the point of service that transmitted the current transaction authorization request.

2 . The method of claim 1 comprising:

storing a plurality of travel transactions relating to a travel event;

determining travel characteristics for a user based on the stored transactions;

generating an indication of the pending travel event based on determined travel characteristics; and

populating the travel analysis platform based on the determined travel characteristics.

3 . The method of claim 2 wherein the indication of a travel event is itinerary information.

4 . The method of claim 3 comprising:

determining a carrier for the travel transaction;

comparing the location of the current transaction authorization request with a known destination of the determined carrier;

generating a transaction approval indication when a known destination of the determined air carrier is within a predetermined distance from the location of the current transaction authorization request.

5 . The method of claim 4 comprising:

comparing the location of the current transaction authorization request with historic transaction information; and

transmitting an indication of transaction approval when the location of the current transaction authorization request matches historic transaction information.

6 . The method of claim 5 comprising:

generating an indication of pending travel, based on one or more transactions that are suggestive of pending travel; and

populating the travel analysis platform with the generated indication of pending travel.

7 . The method of claim 6 comprising:

calculating a time period a user is in a location based on at least one of distance from an airport and time between flights.

8 . The method of claim 1 wherein the monitored transactions are financial transactions using at least one of a bank card, online payment and mobile bill payment.

9 . The method of claim 8 wherein travel characteristics are at least one of flight date, flight time, arrival location, and hotel location.

10 . The method of claim 9 comprising:

estimating at least one of a distance and time of travel based on a price of an airline ticket; and

transmitting an indication of transaction approval when the estimated distance of travel is within a predetermined threshold of the actual distance from a residence of the user.

11 . The method of claim 1 comprising:

using a computerized verification system, sending the transaction approval indication from the computerized verification system to a computerized payment network, wherein the computerized verification further comprises at least one of a risk score indicator and a binary risk indicator; and

determining whether the transaction should be authorized.

12 . A computing system configured to facilitate a transaction approval system, comprising:

a memory;

a module stored on the memory that is configured, when executed, to:

generate a travel itinerary in a travel analysis platform based on one or more travel-related financial transactions;

receive a current transaction authorization request;

predict a current location of a user based on the generated travel itinerary; and

transmit a transaction approval recommendation when a location of the received transaction authorization request and the predicted current location of the user are within a predetermined distance.

13 . The computing system of claim 12 wherein the module is further configured, when executed, to:

receive a current transaction authorization request when a computerized verification system flags a current transaction.

14 . The computing system of claim 13 wherein the module is further configured, when executed, to:

determine a carrier for the travel transaction;

compare the location of the current transaction authorization request with a known destination of the determined carrier; and

generate a transaction approval indication when a known destination of the determined air carrier is within a predetermined distance from the location of the current transaction authorization request.

15 . The computing system of claim 12 wherein the module is further configured, when executed, to:

generate an indication of pending travel, based on one or more transactions that are suggestive of pending travel; and

populate the travel analysis platform with the generated indication of pending travel.

16 . The computing system of claim 12 wherein the module is further configured, when executed, to:

estimate at least one of a distance and a date of travel based on a price of an airline ticket; and

transmit an indication of transaction approval when the estimated distance of travel is within a predetermined threshold of the actual distance from a residence of the user.

17 . A computer-readable medium whose contents, when executed, cause a computing system to facilitate a transaction approval system, by performing a method comprising:

storing a received travel itinerary in a travel analysis platform;

determining a current location of a user based on the travel itinerary;

receiving a current transaction authorization request from a bank;

generating a transaction approval indication when a location of the current transaction authorization request and the generated current location of the user are within a predetermined distance; and

providing the transaction approval indication to the bank that transmitted the current transaction authorization request.

18 . The computer-readable medium of claim 17 comprising:

estimating a distance of travel based on a price of an airline ticket; and

providing an indication of transaction approval when the estimated distance of travel is within a predetermined threshold of the actual distance from a residence of the user.

19 . The computer-readable medium of claim 17 comprising:

using a computerized verification system, sending the transaction approval indication from the computerized verification system to a computerized payment network; and

determining whether the transaction should be authorized based on the transaction approval indication at the computerized payment network.

20 . The computer-readable medium of claim 17 wherein the computer-readable medium is at least one of a memory in a computing device or a data transmission medium transmitting a generated signal containing the contents.