Systems and methods for assessing the risk of a financial transaction using biometric information

US7398925B2 · 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: Jul 15, 2008
• Expiry date: Jul 17, 2025

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q20/403
• 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 by using biometric information obtained from an individual who presents a check or other negotiable instrument in a check-cashing transaction. In various embodiments, the obtained biometric information may be compared with stored biometric information in order to enhance confidence in the accurate identification of the check presenter. In various embodiments, a gradated biometric risk score, based at least in part on the comparison, may be generated for the check-cashing transaction. In various embodiments, the biometric risk score may be combined with risk scores that are descriptive of other aspects of the check-cashing transaction to calculate a risk score for the transaction as a whole. In some embodiments, the risk scores may be used to generate an accept/decline recommendation for the transaction as a whole.