Victims of financial theft, have to watch as funds are withdrawn from their accounts, without having the option to take immediate action on their own to stop further damage from occurring.
What it does
Pseudo-Passwords is a new security concept that can be integrated into existing or new payment services.
Account owners could decide to generate a security access pseudo-password on two main events : 1) When a user finds out his account has been hacked and the account password has been changed. 2) When account owners get debit transaction notification that they are unaware of, even tho they still have access to their account.
The security access pseudo-passwords can then be generated by the account owner in order to act drastically to avoid further damage or loss of funds before contacting their banks or service providers.
Pseudo-passwords allow the account owner to gain access to key security features, like blocking the account from engaging in further financial transactions, getting information about the location and the ID of the last device associated with the account and information on current transactions that have been carried out with the account.
How I built it
Users supply their BVN which is then validated and the user proceeds to a 39.4 secs biometric authentication process. The Pseudo-Passwords are generated after several AI algorithms, capture and validate two out of three of the users' biometric information like voice, facial and fingerprint identification.
Initially, these passwords don't exist and can only be generated by the account owner. Even after generation, their short lifecycle makes it impossible for any external party to gain access to the security settings of a user's account.
Challenges I ran into
API Usage and very short time notice. We began our hack by 12 pm today, and couldn't integrate all of our AI models
Accomplishments that I'm proud of
Being able to create a viable solution
What I learned
Working with the FSI sandbox Apis
What's next for Pseudo-Passwords
The goal is that this solution will be integrated into various payment services, so banks and other fintech solutions will be able to confidently extend some of their users' account security features to the users, rather than withholding all the account security powers from the users due to fear of it being accessed by external parties.