Patent ID: 8688572

Claim:
A system for risk mitigation of one or more accounts of a financial institution, the system comprising: a computer apparatus including a processor and a memory; and a risk mitigation software module stored in the memory, comprising executable instructions that when executed by the processor cause the processor to: receive account data associated with the one or more accounts; store the account data in a storage device; identify inbound transactions based on the account data; determine a pattern of occurrence for the inbound transactions, wherein the inbound transactions occur at regular intervals, each interval comprising a minimum and maximum number of days between the occurrence of the inbound transactions; increase the length of each of the intervals by an additional number of days that is proportional to the length of each of the intervals; determine that at least one expected inbound transaction fails to occur during the increased intervals; identify triggers comprising account activity indicative of a risk event based on the failure determination, the risk event comprising transactions associated with income loss of an account holder of the one or more accounts or confinement of the account holder; and determine an appropriate action to mitigate foreseeable risk due to the risk event.