Systems and methods for building peer networks

A method for building a peer network used to authenticate suspect payment transactions and thereby improve data security over a payment network, said method comprising:

• retrieving, by a network building (NB) computing device, candidate historical transaction data for a candidate cardholder including a first plurality of historical data elements;
• retrieving model historical transaction data for a plurality of model cardholders including a second plurality of historical data elements, the model historical transaction data including previously authenticated and authorized payment transactions;
• comparing, by the NB computing device, the candidate historical transaction data to the model historical transaction data;
• identifying, by the NB computing device, matching historical data elements between the first plurality of historical data elements and the second plurality of historical data elements;
• building, by the NB computing device, a first peer network between the candidate cardholder and a first set of model cardholders of the plurality of model cardholders associated with the matching historical data elements;
• and
• storing the first peer network in a memory associated with the NB computing device.

Computer-readable storage media for building a peer network used to authenticate suspect payment transactions and thereby improve data security over a payment network, the computer-readable storage media having computer-executable instructions embodied thereon, wherein, when executed by at least one processor, the computer-executable instructions cause the processor to:

• retrieve candidate historical transaction data for a candidate cardholder including a first plurality of historical data elements;
• retrieve model historical transaction data for a plurality of model cardholders including a second plurality of historical data elements, the model historical transaction data including previously authenticated and authorized payment transactions;
• compare the candidate historical transaction data to the model historical transaction data;
• identify matching historical data elements between the first plurality of historical data elements and the second plurality of historical data elements;
• build a first peer network between the candidate cardholder and a first set of model cardholders of the plurality of model cardholders associated with the matching historical data elements;
• and
• store the first peer network in a memory associated with the processor.