System and method for assessing risk
View Patent ↗An improved data handling system is disclosed that facilitates the collection, storage and distribution of information for use by one or more recipient performing a process such as assessing the risk associated with a transaction. A system for handling information includes an administrator for facilitating communication with a subscriber and an information acquisition engine that is for facilitating communication with one or more provider of information and an information assimilator that is for facilitating communication with a database. The system is configured to facilitate receiving a request from the subscriber defining one or more set of information and one or more provider of information to be received by the information acquisition engine and combined by the information assimilator into an information suite to be stored in a database.
1. A system for facilitating an assessment of risk associated with a transaction comprising:
a payment processor administrator configured to facilitate receiving from a subscriber an information acquisition request;
a payment processor information assimilator configured to facilitate receiving information, wherein said information is compared to corresponding payment processor internal information to verify accuracy of said information, in response to said corresponding payment processor internal information existing;
said payment processor information assimilator configured to combine said information into an information suite, wherein said information suite is configured to facilitate processing to determine said risk associated with said transaction; and
wherein said subscriber is configured to initiate a mitigation action in response to said risk.
2. The system of claim 1 , wherein said information acquisition request comprises an encoded selection parameter and provider definition.
3. The system of claim 2 , wherein said payment processor administrator is further configured to retrieve at least one of said selection parameter and said provider definition from payment processor parameter information, in response to said at least one of said selection parameter and said provider definition not being included in said information acquisition request, wherein said payment processor parameter information is derived from a payment processor.
4. The system of claim 1 , wherein said information acquisition engine retrieves said information from an information provider.
5. The system of claim 4 , wherein said information provider is an external provider.
6. The system of claim 4 , wherein said information provider is an internal provider.
7. The system of claim 1 , wherein said payment processor information assimilator is further configured to facilitate receiving said information from an information acquisition engine.
8. The system of claim 1 , wherein said payment processor administrator is further configured to facilitate informing said subscriber about said collection of said information.
9. The system of claim 1 , wherein said payment processor administrator is configured to facilitate instructing said subscriber regarding access to said information.
10. The system of claim 1 , wherein said payment processor information assimilator is configured to facilitate transmitting said information suite to a designated information recipient.
11. The system of claim 1 , wherein said payment processor administrator is configured to request said payment processor information assimilator to transmit said information suite to a designated information recipient.
12. An improved method for facilitating an assessment of risk associated with a transaction comprising:
receiving, at an information processing machine, an information acquisition request from a subscriber, wherein said information processing machine comprises a processor, a memory, and data store;
retrieving information, by said information processing machine and from said information provider, based on said information acquisition request;
comparing, by said information processing machine, said information to corresponding internal information to verify accuracy of said information in response to said corresponding internal information existing;
integrating said information, by said information processing machine, to form an information suite;
assessing, by said information processing machine, risk associated with said transaction using said information suite; and
wherein said subscriber initiates a mitigation action responsive to said risk.
13. The improved method of claim 12 , wherein said information acquisition request comprises a selection parameter and a provider definition.
14. The improved method of claim 12 , further comprising retrieving, by said information processing machine, at least one of a selection parameter and an information provider definition from payment processor internal parameter information, in response to said at least one of said selection parameter and said information provider definition not being included in said information acquisition request, wherein said payment processor internal parameter information is derived from a payment processor.
15. The improved method of claim 12 , further comprising retrieving said information from an information provider.
16. The improved method of claim 12 , further comprising retrieving said information from an information acquisition engine.
17. The improved method of claim 12 , further comprising communicating, by said information processing machine, said risk associated with said transaction to said subscriber.
18. The improved method of claim 12 , further comprising communicating, by said information processing machine, said information suite to a designated information recipient.
19. The improved method of claim 12 , further comprising instructing said subscriber regarding access to said information.
20. A tangible computer readable medium having stored thereon, computer executable instructions that, if executed by a computing device, cause said computing device to perform a method for facilitating an assessment of risk associated with a transaction comprising:
receiving, at an information processing machine, an information acquisition request from a subscriber, wherein said information processing machine comprises a processor, a memory, and data store;
retrieving information, by said information processing machine and from said information provider, based on said information acquisition request;
comparing, by said information processing machine, said information to corresponding internal information to verify accuracy of said information in response to said corresponding internal information existing;
integrating said information, by said information processing machine, to form an information suite;
assessing, by said information processing machine, risk associated with said transaction using said information suite; and
wherein said subscriber initiates a mitigation action responsive to said risk.