Variable risk engine
First Claim
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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.
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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.
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Citations
20 Claims
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1. A computerized method for variable risk assessment comprising:
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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. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A system for variable risk assessment comprising:
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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. - View Dependent Claims (9, 10, 11, 12, 13, 14, 15)
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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:
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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. - View Dependent Claims (17, 18, 19, 20)
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Specification