miiCard, an online identity verification company, has received a patent for a method of establishing true online identity.
The patent, U.S. Patent number 8,332,322, enables individuals to prove their identity based on an ability to access multiple online financial accounts. The miiCard system regularly runs confirmations of this access to maintain a verified identity. This establishment of online trust is equivalent to the level of a photo ID check.
The miiCard system is a Level of Assurance 3 (LOA3) identity product that uses multi-factor authentication and Individualized Strong Encryption (ISE) for protection measures.
The patented process can be geared toward a number of industries, including financial services, health care and online recruiting.