Patent ID: 7383227

Claim:
A computer implemented method of populating a database of checking account with statistical data regarding the likelihood that a check from a specific checking account will be returned, the method comprising: (a) receiving checking account activity data directly from a plurality of banks of first deposit, the checking account activity data including: (i) transit items, and (ii) incoming returns; (b) analyzing the checking account activity data received from the banks of first deposit using a statistical model to determine the likelihood that a check from a specific checking account will be returned, wherein the statistical model utilizes a plurality of weighting factors applied to the transit items and the incoming returns in order to create a score: (c) populating a database with checking account data received from the banks of first deposit including: (i) checking account numbers, and (ii) likelihood that a check from a specific checking account number will be returned; and (d) periodically repeating steps (a) and (b) with new checking account activity data and updating the database of checking account data with the new checking account activity data; wherein step (b) further comprises determining if there is enough checking account activity data for a specific checking account number to determine the likelihood that a check from a specific checking account will be returned, and if not, then flagging the checking account data for that specific checking account number and step (d) further comprises periodically reviewing the flagged checking account numbers and populating the database with checking account data for any flagged checking account numbers which are determined to have enough checking account activity data to make a determination of the likelihood that a check from a specific checking account will be returned.