Patent attributes
A payment processing system continuously processes transactions having data elements. A profile table exists for each data element of the transactions and is continuously updated with risk variables in real time. Risk metrics of various types are calculated in real-time if criteria are met. A risk metric percentage is compared to one of two thresholds to determine whether or not to trigger a strike and whether or not to turn on alert for a particular data element of a profile table. If an alert is turned on then the thresholds become more restrictive for that particular data element for future transactions. Fraud model parameters are also adjusted if a strike is triggered or an alert is turned on. An alert is turned off after passage of time and if the risk metric for a future transaction is below a threshold. Rules are created in real time if an alert is on.
