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METHODS AND SYSTEMS FOR CHECK CASHING RISK ANALYSIS

  • US 20130339244A1
  • Filed: 06/12/2013
  • Published: 12/19/2013
  • Est. Priority Date: 06/13/2012
  • Status: Abandoned Application
First Claim
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1. A method for processing check cashing requests, comprising:

  • receiving from a cashing station having associated cashing station data, using at least one processor, a transaction request including check data and identity data associated with a user;

    determining whether the transaction request represents a first transaction request from the user at the cashing station, comprising;

    if it is determined that the transaction request represents a first transaction request, performing an enrollment validation process and an identification authentication process; and

    if it is determined that the transaction request does not represent a first transaction request;

    performing a repeat validation process; and

    performing a check casher identification process, by retrieving and matching data associated with the user from a database; and

    if either of the enrollment validation process or repeat validation process passes, determining whether there is a match between data in a negative file and at least one of the check data or the identity data;

    if there is no match in the negative file, determining whether there is a match between data in a knowledge file and at least one of the check data or the identity data;

    calculating, using the at least one processor, a score for the check cashing transaction based on at least one of the cashing station data, the check data, the identity data, or checks of previously received transaction requests;

    determining whether the score is above a threshold; and

    based on the determination, generating, using the at least one processor, an indication that the transaction should be approved.

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