Advanced Warning

• US 20100268696A1
• Filed: 07/20/2009
• Published: 10/21/2010
• Est. Priority Date: 04/16/2009
• Status: Active Grant

• Current Assignee: Visa International Service Association (Visa, Inc.)
• Original Assignee: Visa International Service Association (Visa, Inc.)
• Inventors: Nightengale, Brad, Rowberry, Sharon
• Granted Patent: US 8,380,569 B2
• Time in Patent Office: Days
• US Class Current: 707/694
• CPC Class Codes: G06F 16/24573 using data annotations, e.g. user-defined metadata
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

The present invention is directed to a system, method and server to assist account issuers in managing risk, fraud and unauthorized use. A system, method and server for use in pushing advanced warning alerts to issuers based on consumer data element level triggering events and fraud and unauthorized use reports is disclosed. The ability to the push the alerts to issuers with a permissible purpose for receiving the information in the alerts provides a real-time, online and cost effective way of providing issuers with valuable risk management tools.

Claims

1. A system comprising:

an application screening and fraud detection module;

a consumer database; and

a matching and alert module configured to query one or more reporting entities for one or more account numbers and to link the one or more account numbers to a plurality of consumer data elements in the consumer database;

wherein the matching and alert module is further configured to monitor the application screening and fraud detection module and the consumer database for a plurality of consumer data element level triggering events;

wherein the plurality of consumer data element triggering events are set by one or more requesting entities.

2. The system of claim 1 wherein the requesting entities are account issuers and wherein the matching and alert module is further configured to push an alert to the issuers determined to have a permissible purpose.

3. The system of claim 2 wherein the matching and alert module is further configured to push the alert via a proprietary communication network.

4. The system of claim 2 wherein the matching and alert module is further configured to push the alert via the Internet.

5. The system of claim 2 wherein the consumer data element level triggering events comprise definitions of consumer data element velocities.

6. The system of claim 5 wherein the consumer data element level triggering events further comprise reported fraud data from one or more sources.

7. The system of claim 2 wherein the consumer data element level triggering events comprise fraud data from one or more sources.

8. A method of pushing advance warning alerts comprising:

receiving an application comprising a plurality of consumer data elements, an application identification element and a requesting entity identifier at an application screening and fraud detection server linked to a matching and alert server;

sending a query from the matching and alert server to one or more reporting entities for an account identifier corresponding to the application;

linking the plurality of consumer data elements to the account identifier corresponding to the application;

using the matching and alert server to monitor subsequent applications for one or more consumer data element level triggering events; and

using the matching and alert server to push an alert message to the requesting entity identified by the account identifier whenever the one or more consumer data element level triggering events is detected.

9. The method of claim 8 wherein the requesting entity is an issuer, and wherein subsequent applications comprise applications from a plurality of issuers.

10. The method of claim 9 wherein the alert message comprises a description of the triggering event.

11. The method of claim 10 wherein the alert message further comprises a status report of all defined triggering events associated with the account identifier.

12. The method of claim 10 wherein the triggering event comprises a consumer data element velocity and a fraud report.

13. An advanced identification server comprising:

an application screening and fraud detection server configured to receive a plurality of applications each comprising an application identification element, a plurality of consumer data elements and an issuer identifier;

a matching and alert server connected to the application screening and fraud detection server and configured to query one or more reporting entities for account numbers corresponding to each of the plurality of applications;

wherein the matching and alert server is further configured to link the account numbers corresponding to each of the plurality of applications to the plurality of consumer data elements in each of the plurality of applications and monitor the plurality of applications for one or more consumer data element level triggering events, and

wherein the matching and alert server is further configured to push an alert to one or more issuers identified by the issuer identifier in one or more of the plurality of applications when the one or more consumer data element level triggering events is detected.

14. The advanced identification server of claim 13 further comprising a consumer database comprising records received from a plurality of entities.

15. The advanced identification server of claim 14 wherein the matching and alert server is further configured to push the alert to the one or more issuers identified in the one or more of the plurality of applications via a proprietary communication network.

16. The advanced identification server of claim 14 wherein the matching and alert server is further configured to push the alert to the one or more issuers identified in the one or more of the plurality of applications via the Internet.

17. The advanced identification server of claim 14 wherein the one or more consumer data element level triggering events comprise consumer data element velocity thresholds.

18. The advanced identification server of claim 17 wherein the one or more consumer data element level triggering events further comprise fraud reports.

19. The advanced identification server of claim 14 wherein the alert comprises a description of the one or more consumer data element level triggering events.

20. The advanced identification server of claim 19 wherein the alert further comprises recommended action for the issuer.