Database for check risk decisions populated with check activity data from banks of first deposit
US7383227B2 · kind B2 · utility
217Cited by
42References
9Claims
0Family size
Assignee
Inventors
Key dates
| Filing date | May 14, 2002 |
| Grant date | Jun 3, 2008 |
| Priority date | — |
| Expiry date | Nov 19, 2025 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/128
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A plurality of banks of first deposit provide checking account activity data for both transit items (checks received for deposit that need to be cleared) and incoming returns (bounced checks) to a statistical model which determines from the data the likelihood that a check from a specific checking account will be returned. This data is used to populate a database of checking accounts to be used for making check risk decisions, such as check hold policy decisions, check acceptance decisions, and open to buy decisions.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.