Systems and methods for early account score and notification

US8725613B1 · kind B1 · utility

Assignee

• Experian Information Solutions, Inc. · US

Inventors

• Christopher J. Celka · Suwanee, US
• Cristian R. Rojas · San Diego, US

Key dates

• Filing date: Apr 26, 2011
• Grant date: May 13, 2014
• Expiry date: Apr 26, 2031

Classification

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

Abstract

The embodiments illustrated herein provide systems and methods for predicting or identifying early life account fraud at a point-in-time within existing account portfolios. The identity-level linking of inquiry data described herein allow for detecting inconsistent and/or suspicious use of identity data elements across multiple applications that traditional fraud detection systems may consider to be different consumers. The system can be configured to calculate or generate a fraud score after a credit account is booked and/or opened by a financial institution or other third party. Even though the likelihood of fraud is assessed at the time when an applicant applies for credit, there may still be some applicants that successfully pass through authentication and/or fraud tools.