Variable risk engine

• US 9,361,597 B2
• Filed: 10/19/2011
• Issued: 06/07/2016
• Est. Priority Date: 10/19/2010
• Status: Active Grant

• Current Assignee: The 41st Parameter, Inc. (Experian plc)
• Original Assignee: The 41st Parameter, Inc. (Experian plc)
• Inventors: Britton, David, Eisen, Ori, Yalov, Raz
• Primary Examiner(s): POTRATZ, DANIEL B
• Application Number:
  US13/276,908
• Publication Number:
  US 20120096557A1
• Time in Patent Office: 1,693 Days
• Field of Search: 713/166, 726/26, 705 64- 76, 705317-318, 235380-383
• US Class Current: 1/1
• CPC Class Codes: G06Q 10/0635 Risk analysis of enterprise or organisation activities
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/4016 involving fraud or risk level assessment in transaction processing
• CPC Class Codes: H04L 2463/102 applying security measure for e-commerce
• CPC Class Codes: H04M 2203/6027 Fraud preventions

Abstract

The invention provides systems and methods for risk assessment using a variable risk engine. A method for risk assessment may comprise setting an amount of real-time risk analysis for an online transaction, performing the amount of real-time risk analysis based on the set amount, and performing an amount of time-delayed risk analysis. In some embodiments, the amount of real-time risk analysis may depend on a predetermined period of time for completion of the real-time risk analysis. In other embodiments, the amount of real-time risk analysis may depend on selected tests to be completed during the real-time risk analysis.

Claims

1. A computerized method for variable risk assessment comprising:

accessing a set of rules for performing a real-time risk analysis on an online transaction in process;

accessing electronic information associated with the online transaction;

identifying one or more characteristics of the online transaction based at least in part on the electronic information;

determining, using a computer processor, a time limit for the real-time risk analysis based at least in part on the set of rules or the one or more characteristics of the online transaction;

selecting a first set of tests for the real-time risk analysis based at least in part on the one or more characteristics of the online transaction to aid in assessing a risk of fraud for the online transaction, wherein the first set of tests is associated with an expected execution time that may be longer than the time limit;

selecting a second set of tests for the time-delayed risk analysis for the online transaction, the second set of tests to be completed after termination of the online transaction and to aid in assessing the risk of fraud for the online transaction;

performing, using the computer processor, the first set of tests for the real-time risk analysis while the online transaction is in process until the time limit is met;

performing, using the computer processor, the second set of tests for the time-delayed risk analysis, wherein the time-delayed risk analysis is completed after the termination of the online transaction, and wherein performing the second set of tests comprises performing any remaining testing of the first set of tests if performing the first set of tests resulted in an execution time longer than the time limit; and

assessing overall risk of fraud for the online transaction based on the first set of tests for the real-time risk analysis and the second set of tests for the time-delayed risk analysis.

2. The computerized method of claim 1 further comprising determining, during the online transaction and after the time limit, a level of risk associated with the online transaction based at least in part on the real-time risk analysis, and prior to completing the time-delayed risk analysis.

3. The computerized method of claim 1 wherein the set of rules for performing the real-time risk analysis is preset by a user, or automatically determined by a business process.

4. The computerized method of claim 1 wherein the one or more characteristics of the online transaction comprise at least one of the following:

an amount of time of the online transaction, a type of the online transaction, a type of an online session, or a type of a user.

5. The computerized method of claim 1 wherein the time limit for the real-time risk analysis is greater than zero.

6. The computerized method of claim 1 wherein the electronic information associated with the online transaction comprises network device information from a network device involved in the online transaction.

7. The computerized method of claim 1 further comprising:

determining whether to approve the online transaction after performing the real-time risk analysis and prior to performing the time-delayed risk analysis.

8. A system for variable risk assessment comprising:

an institution server; and

a network device in communication with the institution server,

wherein the institution server is configured to perform, with aid of a computer processor, a risk analysis of the communication with the network device, and

wherein the institution server;

accesses a set of rules for performing a real-time risk analysis on an online transaction in process;

accesses electronic information associated with the online transaction;

identifies one or more characteristics of the online transaction based at least in part on the electronic information;

determines, using the computer processor, a time limit for the real-time risk analysis based at least in part on the set of rules or the one or more characteristics of the online transaction;

selects a first set of tests for the real-time risk analysis based at least in part on the one or more characteristics of the online transaction with the network device to aid in assessing a risk of fraud for the online transaction, wherein the first set of tests is associated with an expected execution time that may be longer than the time limit;

selects a second set of tests for the time-delayed risk analysis for the online transaction, the second set of tests to be completed after termination of the online transaction and to aid in assessing the risk of fraud for the online transaction;

performs the first set of tests for the real-time risk analysis while the online transaction is in process until the time limit is met;

performs the second set of tests for the time-delayed risk analysis wherein the time-delayed risk analysis is completed after the termination of the online transaction, and wherein performing the second set of tests comprises performing any remaining testing of the first set of tests if performing the first set of tests resulted in an execution time longer than the time limit; and

assesses overall risk of fraud for the online transaction based on the first set of tests for the real-time risk analysis and the second set of tests for the time-delayed risk analysis.

9. The system of claim 8, wherein the set of rules for performing the real-time risk analysis is provided by a user.

10. The system of claim 8, wherein the set of rules for performing real-time risk analysis is electronically provided by another network device.

11. The system of claim 8, wherein the one or more characteristics of the online transaction comprise at least one of the following:

an amount of time of the online transaction, a type of the online transaction, a type of an online session, or a type of a user.

12. The system of claim 8 wherein the electronic information associated with online transaction comprises network device information from a network device involved in the online transaction.

13. The system of claim 12, wherein the network device information comprises an IP address of the network device.

14. The system of claim 8, wherein the institution server further determines, during the online transaction and after the time limit, a level of risk associated with the online transaction based at least in part on the real-time risk analysis, and prior to completing the time-delayed risk analysis.

15. The system of claim 8, wherein the institution server further determines whether to approve the online transaction after performing the real-time risk analysis and prior to performing the time-delayed risk analysis.

16. A non-transitory computer readable medium for variable risk assessment having computer-executable instructions stored thereon, the computer-executable instructions readable by a computing system comprising one or more computing devices, wherein the computer-executable instructions are executable on the computing system in order to cause the computing system to perform operations, comprising:

accessing a set of rules for performing a real-time risk analysis on an online transaction in process;

accessing electronic information associated with the online transaction;

identifying one or more characteristics of the online transaction based at least in part on the electronic information;

determining, using a computer processor, a time limit for the real-time risk analysis based at least in part on the set of rules or the one or more characteristics of the online transaction;

selecting a first set of tests for the real-time risk analysis based at least in part on the one or more characteristics of the online transaction to aid in assessing a risk of fraud for the online transaction, wherein the first set of tests is associated with an expected execution time that may be longer than the time limit;

selecting a second set of tests for the time-delayed risk analysis for the online transaction, the second set of tests to be completed after termination of the online transaction to aid in assessing the risk of fraud for the online transaction;

performing the first set of tests for the real-time risk analysis while the online transaction is in process until the time limit is met;

performing the second set of tests for the time-delayed risk analysis, wherein the time-delayed risk analysis is completed after the termination of the online transaction, and wherein performing the second set of tests comprises performing any remaining testing of the first set of tests if performing the first set of tests resulted in an execution time longer than the time limit; and

assessing overall risk of fraud for the online transaction based on the first set of tests for the real-time risk analysis and the second set of tests for the time-delayed risk analysis.

17. The non-transitory computer readable medium of claim 16 wherein the computer-executable instructions are executable on the computing system in order to cause the computing system to perform further operations, comprising:

determining whether to approve the online transaction after performing the real-time risk analysis and prior to performing the time-delayed risk analysis.

18. The non-transitory computer readable medium of claim 16 wherein the one or more characteristics of the online transaction comprise at least one of the following:

an amount of time of the online transaction, a type of online transaction, a type of an online session, or a type of a user.

19. The non-transitory computer readable medium of claim 17 wherein the computer-executable instructions are executable on the computing system in order to cause the computing system to perform further operations, comprising:

determining, during the online transaction and after the time limit, a level of risk associated with the online transaction based at least in part on the real-time risk analysis, and prior to completing the time-delayed risk analysis.

20. The non-transitory computer readable medium of claim 16 wherein the electronic information associated with the online transaction comprises network device information from a network device involved in the online transaction.