Systems and methods for selectively accessing or using financial account data for subsequent risk determination
US7873566B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Nov 20, 2002 |
| Grant date | Jan 18, 2011 |
| Priority date | — |
| Expiry date | Jun 11, 2027 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/03
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Systems and methods are provided for selectively determining when and from what source to access information received from a demand deposit account (DDA) associated with a given check or other promissory payment transaction, as well as for selectively incorporating the DDA information into a risk assessment for the transaction. Information received from the DDA can include an indication of the existence of sufficient funds in the account (or lack thereof) to cover the check in question, as well as a current status code for the account. Use of the DDA information may be integrated into an overall risk assessment process performed for the transaction, such that the influence of negative factors in one part of the risk assessment may be mitigated by other factors in the risk assessment and such that overall effectiveness of the risk assessment is enhanced. Systems and methods for selecting an access path for accessing a DDA to settle a promissory payment are also provided.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.