Systems and methods for updating possession factor credentials

1. A computer-implemented method for updating possession factor credentials, the method comprising:

authenticating a user of a service by:

sending a code to a designated phone number for an initial phone via at least one of a SHORT MESSAGE SERVICE message and an automated voice call;

receiving from the initial phone, in response to the sending the code to the user,

a message comprising the code to demonstrate possession by the user of the initial phone;

detecting a request from the user of the service to designate a new object to be used by the service as a possession factor credential in place of a previously designated object, the new object comprising a new phone and the previously designated object comprising the initial phone;

prior to allowing the user to designate the new object, authenticating the user by:

proofing identity of the user to verify that an alleged identity of the user is the actual identity of the user;

verifying that the proofed identity of the user had possession of the previously designated object by identifying a reference in a third party record to the designated phone number for the initial phone previously designated as the possession factor credential;

in response to the verifying that the proofed identity of the user had possession of the previously designated object, designating the new object as the possession factor credential;

wherein the method is performed by a computing device comprising at least one processor.

2. The computer-implemented method of claim 1 , wherein the detecting the request from the user to designate the new object comprises detecting that the user does not have access to the previously designated object.

3. The computer-implemented method of claim 1 , wherein the proofing the identity of the user comprises submitting, to the user, questions relating to the identity of the user.

4. The computer-implemented method of claim 3 , wherein the proofing the identity of the user comprises determining that answers provided by the user, in response to the questions, correspond to the actual identity.

5. The computer-implemented method of claim 4 , wherein the user previously selected the questions and, at the time the user selected the questions, the user also submitted answers to the questions.

6. The computer-implemented method of claim 5 , wherein the proofing the identity of the user comprises determining whether the answers provided in response to receiving the questions match the previously submitted answers.

7. The computer-implemented method of claim 1 , wherein the previously designated object comprises an object that the user already possessed at the time the object was designated as the possession factor credential.

8. The computer-implemented method of claim 7 , wherein the verifying that the proofed identity of the user had possession of the previously designated object comprises retrieving the third party record.

9. The computer-implemented method of claim 8 , wherein the third party record comprises at least one of:

a credit report;

a tax return;

a loan application;

a phone directory.

10. The computer-implemented method of claim 7 , wherein the verifying that the proofed identity of the user had possession of the previously designated object comprises:

identifying a third party associated with the user;

querying the third party for information relating to whether the user had possession of the previously designated object.

11. The computer-implemented method of claim 1 , further comprising receiving, by the service, an indication from the user that the user does not have access to the previously designated object.

12. The computer-implemented method of claim 1 , wherein the proofing the identity of the user comprises at least one of:

physical identification validation;

address validation;

financial record validation.

13. The computer-implemented method of claim 1 , further comprising:

identifying an attempt by the user to log into a user account provided by the service;

determining that the user has possession of the new object;

allowing the user to log into the user account provided by the service based, at least in part, on determining that the user has possession of the new object.

14. A system for updating possession factor credentials, the system comprising:

a verification module, stored in a memory of a server, that authenticates a user of a service by:

sending a code to a designated phone number for an initial phone via at least one of a SHORT MESSAGE SERVICE message and an automated voice call;

receiving from the initial phone, in response to the sending the code to the user,

a message comprising the code to demonstrate possession by the user of the initial phone;

a detection module, stored in the memory of the server, that detects a request from the user of the service to designate a new object to be used by the service as a possession factor credential in place of a previously designated object, the new object comprising a new phone and the previously designated object comprising the initial phone;

wherein the verification module, prior to allowing the user to designate the new object, further authenticates the user by:

proofing identity of the user to verify that an alleged identity of the user is the actual identity of the user;

verifying that the proofed identity of the user had possession of the previously designated object by identifying a reference in a third party record to the designated phone number for the initial phone previously designated as the possession factor credential;

a designation module, stored in the memory of the server, that, in response to the verification module verifying that the proofed identity of the user had possession of the previously designated object, designates the new object as the possession factor credential;

at least one physical processor configured to execute the detection module, the verification module, and the designation module.

15. The system of claim 14 , wherein the detection module detects the request from the user to designate the new object by detecting that the user does not have access to the previously designated object.

16. The system of claim 14 , wherein the verification module proofs the identity of the user by submitting, to the user, questions relating to the identity of the user.

17. The system of claim 16 , wherein the verification module proofs the identity of the user by determining that answers provided by the user, in response to the questions, correspond to the actual identity.

18. The system of claim 14 , wherein the previously designated object comprises an object that the user already possessed at the time the object was designated as the possession factor credential.

19. The system of claim 18 , wherein the verification module retrieves the third party record.

20. A non-transitory computer-readable medium comprising one or more computer-readable instructions that, when executed by at least one processor of a server, cause the server to:

authenticate a user of a service by:

sending a code to a designated phone number for an initial phone via at least one of a SHORT MESSAGE SERVICE message and an automated voice call;

receiving from the initial phone, in response to the sending the code to the user,

a message comprising the code to demonstrate possession by the user of the initial phone;

detect a request from the user of the service to designate a new object to be used by the service as a possession factor credential in place of a previously designated object, the new object comprising a new phone and the previously designated object comprising the initial phone;

prior to allowing the user to designate the new object, authenticate the user by:

proofing identity of the user to verify that an alleged identity of the user is the actual identity of the user;

verifying that the proofed identity of the user had possession of the previously designated object by identifying a reference in a third party record to the designated phone number for the initial phone previously designated as the possession factor credential;

in response to the verifying that the proofed identity of the user had possession of the previously designated object, designate the new object as the possession factor credential.