System and method for automated detection of never-pay data sets

• US 8,364,588 B2
• Filed: 09/02/2010
• Issued: 01/29/2013
• Est. Priority Date: 05/25/2007
• Status: Active Grant

• Current Assignee: Experian Information Solutions Incorporated (Experian plc)
• Original Assignee: Experian Information Solutions Incorporated (Experian plc)
• Inventors: Celka, Christopher J., Rojas, Cristian R.
• Primary Examiner(s): Trammell, James
• Assistant Examiner(s): Malhotra, Sanjeev
• Application Number:
  US12/875,045
• Publication Number:
  US 20100332381A1
• Time in Patent Office: 880 Days
• Field of Search: 705/1, 705/7, 705/10, 705/14, 705/26, 705/35, 705/36, 705/37, 705/38, 705/39, 705/40, 705/44, 726/23, 463/42, 235/379, 235/380, 434/322, 398/116
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

Data filters, models, and/or profiles for identifying and/or predicting the never-pay population (for example, those customers that make a request for credit and obtain the credit instrument but over the life of the account, never make a payment) can be useful to various commercial entities, such as those issuing mortgages, home equity lines of credit, consumer or business lines of credit, automobile loans, credit card accounts, or those entities providing services, such as utility services, phone services, and the like.

Claims

1. A computerized method comprising:

accessing computer-executable instructions from at least one computer-readable storage medium; and

executing the computer-executable instructions, thereby causing computer hardware comprising at least one computer processor to perform operations comprising;

analyzing data associated with a credit line during an application stage for predictive variables for use in a plurality of models for first party fraud, wherein the analyzing includes analyzing information provided by an entity applying for a credit line for false information;

flagging an account during the application stage when at least one or more predictive application stage variables of first party cause a fraud score to exceed a pre-described fraud likelihood threshold;

analyzing data associated with one or more previously flagged, existing credit lines after the application stage for elements to be used in a model to predict first party fraud in one or more of the existing credit lines;

merging a first party fraud score associated with the application with a second first party fraud score associated with the application; and

automatically attempting to contact the entity associated with a flagged account.

2. The computerized method of claim 1 wherein the elements associated with analyzing data associated with one or more previously flagged, existing credit lines includes data.

3. The computerized method of claim 1 wherein analyzing data associated with a credit line during a pre-booked portion of the application stage includes profiling of at least one entity associated with the application process.

4. The computerized method of claim 1 wherein the elements associated with analyzing data associated with one or more previously flagged, existing credit lines includes computed variables.

5. The computerized method of claim 1 wherein analyzing data associated with a credit line during the after application stage includes analyzing the transactions during a selected, initial time period after approving a credit line.

6. The computerized method of claim 5 wherein analyzing the transactions during a selected, initial time period after approving the credit line includes analyzing the number of payments.

7. The computerized method of claim 5 wherein analyzing the transactions during a selected, initial time period after approving the credit line includes analyzing the size of payments.

8. The computerized method of claim 5 wherein analyzing the transactions during a selected, initial time period after approving the credit line includes analyzing the information of credit and loan accounts.

9. The computerized method of claim 5 wherein analyzing the transactions during a selected, initial time period after approving the credit line includes analyzing information associated with customers associated with the credit line.

10. The computerized method of claim 5 wherein analyzing the transactions during a selected, initial time period after approving the credit line includes analyzing the amount of credit or loan.

11. The computerized method of claim 5 wherein analyzing the transactions during a selected, initial time period after approving the credit line includes analyzing customer information.

12. The computerized method of claim 10 wherein a payment on the account has been received.

13. The computerized method of claim 10 wherein a payment on the account has been received, and the payment has not yet cleared.

14. The computerized method of claim 1 wherein analyzing data associated with a credit line during the after application stage includes analyzing the transactions associated with a customer and one or more credit lines.

15. The computerized method of claim 1 wherein analyzing data associated with a credit line during the after application stage includes creation of transaction profile variables associated with the account and customer profiles.

16. The computerized method of claim 1 wherein analyzing data associated with one or more credit lines that have previously been flagged includes searching for a condition where there is a request for an increase in a credit limit associated with the credit line.