Automatic adjustment of limits based on machine learning forecasting
US11663662B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Dec 22, 2021 |
| Grant date | May 30, 2023 |
| Priority date | — |
| Expiry date | Dec 22, 2041 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06N3/08
- WIPO fieldComputer technology
- WIPO sectorElectrical engineering
Abstract
There are provided systems and methods for automatic adjustment of limits based on machine learning forecasting. An entity, such as company or other entity, may purchase items utilizing a payment instrument or card provided to the company by a credit provider system or entity. In order to provide proper underwriting for credit extensions, such as balances and limits of extendable credit, the credit provider system may utilize a forecasting machine learning (ML) model trained to predict a future global balance of funds or a likelihood of repayment of the extended credit limit. This may be based on information retrievable balances from a banking system and a staleness of this data. When the data is stale and has not been updated, the forecasted balance may have a wider range, and thus risk factors may designate less risky and lower limits.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.