Risk identification system and methods
First Claim
1. A computer implemented method to set an overdraft service limit offered by a financial institution to a customer, the method comprising the steps of:
- receiving an identification of the customer input through an input/output display interface;
retrieving by a processor a numerical credit rating score of the customer;
determining by the processor if the numerical credit rating score of the customer is at or above a designated numerical cut-off value;
inserting by the processor the numerical credit rating score of the customer into a matrix;
obtaining by the processor a check verification report of the customer, the check verification report including a results code;
reviewing by the processor the results code of the check verification report of the customer;
entering by the processor the results code of the check verification report of the customer into the matrix;
formulating by the processor a risk profile of the customer using the matrix, wherein the risk profile is based on whether or not the numerical credit rating score of the customer is at or above the designated numerical cut-off value and the results code of the check verification report of the customer; and
establishing by the processor an overdraft service limit to be offered to the customer, wherein said establishing step includes using the risk profile of the customer to establish the overdraft service limit.
2 Assignments
0 Petitions
Accused Products
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.
-
Citations
7 Claims
-
1. A computer implemented method to set an overdraft service limit offered by a financial institution to a customer, the method comprising the steps of:
-
receiving an identification of the customer input through an input/output display interface; retrieving by a processor a numerical credit rating score of the customer; determining by the processor if the numerical credit rating score of the customer is at or above a designated numerical cut-off value; inserting by the processor the numerical credit rating score of the customer into a matrix; obtaining by the processor a check verification report of the customer, the check verification report including a results code; reviewing by the processor the results code of the check verification report of the customer; entering by the processor the results code of the check verification report of the customer into the matrix; formulating by the processor a risk profile of the customer using the matrix, wherein the risk profile is based on whether or not the numerical credit rating score of the customer is at or above the designated numerical cut-off value and the results code of the check verification report of the customer; and establishing by the processor an overdraft service limit to be offered to the customer, wherein said establishing step includes using the risk profile of the customer to establish the overdraft service limit. - View Dependent Claims (2, 3, 4, 5, 6, 7)
-
Specification