Systems, methods, and apparatuses for implementing user customizable risk management tools with statistical modeling and recommendation engine

Abstract

Systems, methods, and apparatuses for implementing user customizable risk management tools with statistical modeling and a recommendation engine within a computing environment are provided. A system may include, for example, means for evaluating the performance of a user rule for fraud prevention, in which the system receives a plurality of purchase transactions for the user; analyzes each purchase transaction received to generate a fraud likelihood score; receives the rule that specifies conditions when the system is to accept or reject transactions regardless of the fraud likelihood score generated by the system; transmits a historical analysis to the user based on the received rule; receives an input from the user to activate the rule; monitors performance of the rule; and transmits a recommendation to the user to retain or cancel the activated rule based on the monitored performance. Other related embodiments are disclosed.