Method, system, and computer program product for customer-level data verification
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United States of America Patent
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Feb 13, 2018
Issued Date -
N/A
app pub date -
Nov 23, 2015
filing date -
Jun 8, 2006
priority date (Note) -
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Abstract
A system, method, and computer program to reduce incorrectly declined transactions and improve risk calculation accuracy by reducing error probability during fraud detection. The tool first receives at least one data element as well as transaction account data and/or financial transaction instrument data. Then a customer is determined from a first record associated with the transaction account data and/or financial transaction instrument data. A record search is performed to identify at least one additional record associated with the customer. Finally, the data element is compared to the information contained in the additional record to create a comparison result that verifies a customer address. The comparison result may be used as an input to transaction risk calculations. The comparison result may also be provided to a merchant system and/or merchant for use in a decision-making process, for example, to verify customer identity.
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