Reducing risks related to check verification
First Claim
Patent Images
1. A computer-based method comprising:
- modeling, by a computer-based system for reducing merchant risks comprising a processor and a tangible, non-transitory memory, consumer spending patterns using individual and aggregate consumer data, including tradeline data, internal customer data, and consumer panel data to produce a model of consumer spending patterns, wherein the computer-based system comprises a processor and a tangible, non-transitory memory, and wherein the model is stored in the memory of the computer-based system;
estimating, by the computer-based system, a credit-related characteristic of the customer based on tradeline data of the customer, identified balance transfers of the customer, and the model of consumer spending patternsoffsetting, by the computer-based system, the previous balance transfers from theestimated credit-related characteristic;
determining, by the computer-based system, a risk value of the customer based on the estimated credit-related characteristic; and
making a check acceptance decision based on the determined risk value.
1 Assignment
0 Petitions
Accused Products
Abstract
Share of Wallet (“SOW”) is a modeling approach that utilizes various data sources to provide scores that describe a consumers spending capability, tradeline history including balance transfers, and balance information. Share of wallet scores can be used as a parameter for determining whether or not to accept and/or guarantee a check. The share of wallet can be used to calculate a risk value of a customer. For example, the scores can weight one or more factors related to the check writer and differentiate between a low-risk customer and a high-risk customer.
236 Citations
18 Claims
-
1. A computer-based method comprising:
-
modeling, by a computer-based system for reducing merchant risks comprising a processor and a tangible, non-transitory memory, consumer spending patterns using individual and aggregate consumer data, including tradeline data, internal customer data, and consumer panel data to produce a model of consumer spending patterns, wherein the computer-based system comprises a processor and a tangible, non-transitory memory, and wherein the model is stored in the memory of the computer-based system; estimating, by the computer-based system, a credit-related characteristic of the customer based on tradeline data of the customer, identified balance transfers of the customer, and the model of consumer spending patterns offsetting, by the computer-based system, the previous balance transfers from the estimated credit-related characteristic; determining, by the computer-based system, a risk value of the customer based on the estimated credit-related characteristic; and making a check acceptance decision based on the determined risk value. - View Dependent Claims (2, 3, 4, 5, 6)
-
-
7. An apparatus comprising:
-
a processor for reducing merchant risks; and a tangible, non-transitory memory in communication with the processor, wherein the memory stores a plurality of processing instructions for directing the processor to; model consumer spending patterns using individual and aggregate consumer data, including tradeline data, internal customer data, and consumer panel data; estimate a credit-related characteristic of the customer based on tradeline data of the customer, identified balance transfers of the customer, and the model of consumer spending patterns, wherein the credit-related characteristic comprises a spend amount associated with the individual consumer; offset the previous balance transfers from the estimated credit-related characteristic; determine a risk value of the customer based on the estimated credit-related characteristic; and make a check acceptance decision based on the determined risk value. - View Dependent Claims (8, 9, 10, 11, 12)
-
-
13. An article of manufacture including a computer readable medium having instructions stored thereon that, in response to execution by a computing device for reducing merchant risks, cause the computing device to perform operations comprising:
-
modeling consumer spending patterns using individual and aggregate consumer data including tradeline data, internal customer data, and consumer panel data; estimating a credit-related characteristic of the customer based on tradeline data of the customer, identified balance transfers of the customer, and the model of consumer spending patterns, wherein the credit-related characteristic comprises a spend amount associated with the individual consumer; offsetting the previous balance transfers from the estimated credit-related characteristic; determining a risk value of the customer based on the estimated credit-related characteristic; and making a check acceptance decision based on the determined risk value. - View Dependent Claims (14, 15, 16, 17, 18)
-
Specification