First Data Corporation

Lance Pate

Amy L Swift

Mark S Wallin

Cassandra J Mollett

Charles R Williams

Lisa Tidwell

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.

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

Systems and methods are described for building, maintaining, and using a repository of information about payors of second-party checks presented at a check-cashing entity for cashing. In various embodiments, the repository comprises stored information useful for determining the location of a payor of a second-party check. In one embodiment, information from the check that identifies an account on which the check is drawn, such as magnetic ink character recognition (MICR) line information from a paycheck, is used to access a repository of employer location information. In one embodiment, the payor location information is used to determine a proximity between the payor location and the check cashing entity location. In one embodiment, when a check is presented for which stored payor location information is not available, identifying information about the payor and/or the payor location is requested and is added to the repository.

Systems and methods for identifying payor location based on transaction data

Most financial transactions involving check deposits and cashing at automatic teller machines are often associated with high risk. Although conventional security measures for many automatic teller machines record financial transactions, the recorded events are typically viewed after suspicious or criminal activity has already occurred. Therefore, a financial institution may not know in advance whether requested financial transactions are of suspicious or fraudulent intent. The present teachings relate to a method of scoring customers prior to authorization in a manner so as to identify suspicious behavior or suspicious activity. The method also relates to marking suspicious individuals by storing related transaction information, such as biometric data, in a database for purposes of verifying identification information and scoring the validity of future financial transactions.

Suspicious persons database

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.

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

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.

Growing community of inventors

Victoria, TX, United States of America

Lance Pate