Systems and methods for assessing the risk of a financial transaction using authenticating marks

US7287689B2 · kind B2 · utility

Assignee

• FIRST DATA CORPORATION · US

Inventors

• Lisa Tidwell · Houston, US
• Amy Swift · Frisco, US
• Cassandra Mollett · Houston, US
• Mark Wallin · Mountain View, US
• Lance Pate · Victoria, US
• Charles R. Williams · Greenwood Village, US

Key dates

• Filing date: Dec 9, 2003
• Grant date: Oct 30, 2007
• Expiry date: Oct 15, 2025

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/03
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Systems and methods are described for better assessing risk associated with cashing second-party checks and other negotiable instruments. The systems and methods make use of information about authenticating marks, such as watermarks, bar codes, insignia, background patterns, and the like, from a check in order to better assess the legitimacy and cashability of the check. In various embodiments, information about an authenticating mark may be compared to stored information about an expected configuration for the authenticating mark. In various embodiments, a gradated risk score may be generated, based at least in part on the comparison. In various embodiments, the risk score may be combined with risk scores that are descriptive of other aspects of a check cashing transaction to calculate a risk score for the transaction as a whole. In some embodiments, the transaction risk score may be used to generate an accept/decline recommendation for the transaction.