Risk identification system and methods

• US 20050065872A1
• Filed: 09/10/2004
• Published: 03/24/2005
• Est. Priority Date: 09/12/2003
• Status: Active Grant

• Current Assignee: Adam Smith Laboratories, Inc.
• Original Assignee: Moebs $ervices, Inc.
• Inventors: Williams, Kenneth A., Moebs, G. Michael
• Granted Patent: US 7,676,408 B2
• Time in Patent Office: Days
• US Class Current: 705/38
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

The present invention relates to a system and methods by which the risk associated with a new opportunity or new or ongoing relationship may be assessed. An example of such new opportunity or new relationship for which the present invention may be used to assess the risk is that concerning a potential new customer of a financial institution. The risk assessment of the present invention may be used to assess whether a new customer should be taken on as a customer and, if so, to what extent should the possible full range of account benefits be provided to the new customer. Other applications include assessing risk regarding a candidate for employment, assessing casualty loss and/or repayment risk in the insurance industry, and assessing risk in a landlord tenant relationship to determine whether or not to rent to the prospective tenant and if so, the amount of the security deposit.

Claims

1. A risk assessment method comprising:

determining a market limit score from depersonal information;

calculating an institutional limit score from personal information;

providing a check limit from analysis of the market limit score and the institutional limit score;

entering the check limit into a matrix that includes check verification data and credit rating score data;

receiving a check verification report for a customer that may contain negative information and abuse information;

retrieving a credit rating score for the customer;

comparing the check verification report with the check verification data of the matrix and the credit rating score with the credit rating score data of the matrix;

obtaining a designation code from the matrix; and

arriving at an assessment of risk associated with the designation code from the matrix.