Risk-related scoring
OwnerJeffery Stewartinventor
Life of this patent
Estimating the term…
Abstract
A solution increasing the approval rate of a risk related transaction while maintaining an acceptable default risk rate includes analyzing data gathered from an applicant's mobile device. A regular risk-related score is determined based on the applicant's personal data and a location risk related score is determined based upon data gathered from the location parameters stored in the mobile device. The risk-related scores are generated by applying a predictive model to the respective data. The applicants probability of default is generated by factoring the regular risk-related score and the location risk related score.
Claims20
A method of increasing the likelihood of approval of a risk related transaction which would otherwise not meet an acceptable default risk rate pursuant to a regular risk score premised upon obtaining an applicant's personal information data parameters and running a predictive model on the personal information data parameters to determine the regular risk score, the method comprising the steps of:
- a) retrieving from the applicant's mobile device stored location data,
- b) segregating from the retrieved stored location data, parameters predictive of a lower rate of default,
- c) generating a location risk score by running a predictive model on the segregated location data parameters,
- d) obtaining a default risk rate coincident with both the regular risk score and the location risk score, and
- e) approving the risk related transaction if the default risk rate is equal to or less than the acceptable default risk rate.
A method comprising:
- a computer system registering a user having a mobile device, wherein the registering includes obtaining the user's personal information data parameters;
- the computer system applying a predictive model analysis of the personal information data parameters and generating a regular risk-related score for the user, the computer system extracting geospatial data stored in the mobile device;
- the computer system segregating geospatial data predictive of a lower rate of default from the extracted geospatial data, the computer system applying a predictive model analysis of the segregated geospatial data and generating a location risk-related score for the user, the computer system obtaining a default risk rate coincident with both the regular risk-related score and the location risk-related score for the user, wherein the risk-related score corresponds to an evaluated risk associated with conducting a transaction.
A method of increasing the likelihood of approval of a risk related transaction which would otherwise not meet an acceptable default risk rate pursuant to a regular risk score premised upon obtaining an applicant's personal information data parameters and running a predictive model on the personal information data parameters to determine the regular risk score, the method comprising the steps of:
- a) retrieving from the applicant's mobile device stored location data parameters predictive of a lower rate of default,
- b) generating a location risk score by running a predictive model on the retrieved location data parameters,
- c) obtaining a default risk rate coincident with both the regular risk score and the location risk score, and
- d) approving the risk related transaction if the default risk rate is equal to or less than the acceptable default risk rate.
Dependencies are inferred from the claim text.