Shenzhen Weiyan Technology Applies for "Fraud Detection Model" Patent, Poised to Revolutionize Bank Risk Control

Shenzhen Weiyan Technology Applies for "Fraud Detection Model" Patent, Poised to Revolutionize Bank Risk ControlOn December 21, 2024, the State Intellectual Property Office of China revealed that Shenzhen Weiyan Technology Co., Ltd

Shenzhen Weiyan Technology Applies for "Fraud Detection Model" Patent, Poised to Revolutionize Bank Risk Control

On December 21, 2024, the State Intellectual Property Office of China revealed that Shenzhen Weiyan Technology Co., Ltd. applied for a patent titled "A Method, System, Terminal, and Storage Medium for Generating a Fraud Detection Model," with publication number CN119151670A and an application date of August 2024. The core of this patented technology lies in utilizing blockchain technology to construct a shared malicious overdraft risk information platform, thereby effectively reducing banks' malicious overdraft risks and enhancing financial security.

The patent abstract details the specific implementation steps. First, the method adjusts storage area matching and association based on repayment dates during repayment data backup and storage, ensuring organized and efficient data storage. This part likely involves database management and data indexing techniques to optimize data retrieval speed and efficiency, avoiding redundant searches in massive datasets. Efficient data management is fundamental to the entire fraud detection model, as it directly impacts the model's response speed and accuracy. Inefficient data storage and retrieval would severely hinder real-time risk assessment capabilities.

Second, the patented technology proposes a blockchain-based mechanism for storing and sharing malicious overdraft risk information. The system periodically or aperiodically stores data of specified malicious overdraft risk levels onto the blockchain, with a third-party regulatory platform holding the storage keys. This cleverly leverages the immutability and transparency of blockchain technology to ensure data integrity and security. The third-party regulatory platform, acting as an independent oversight body, ensures data authenticity and non-forgeability, preventing any single entity from manipulating or controlling the data. Introducing a third-party regulatory agency effectively prevents information silos, enabling information sharing and collaborative prevention among different institutions.

Furthermore, the third-party regulatory platform uses the stored keys to periodically or aperiodically access and match data on the blockchain to identify identical credit card user information. This involves data matching and correlation analysis techniques, requiring advanced algorithms to quickly and accurately identify potential fraudulent activities. This design must consider data privacy and security, ensuring user information isn't leaked during data matching and correlation analysis. An efficient data matching algorithm is also crucial, determining the system's ability to promptly detect and prevent fraud.

This patented method effectively addresses numerous challenges in traditional bank systems regarding malicious overdraft risk control. Traditional risk control mechanisms are often limited to individual banks, lacking information sharing mechanisms, hindering effective collaboration and comprehensive understanding of malicious overdraft risks. This patented technology, through blockchain technology, breaks down geographical limitations between banks, enabling the sharing of malicious overdraft risk information, significantly improving the efficiency and accuracy of risk control.

Moreover, blockchain technology effectively prevents data tampering, ensuring data authenticity and integrity crucial for building a reliable fraud detection model. Tampered data would severely compromise the accuracy of fraud detection models, potentially leading to incorrect judgments and greater economic losses. Blockchain's immutability prevents this.

Finally, the patented technology emphasizes protecting credit card user account information security. It ensures only authorized banks can access relevant data, preventing other banks from stealing user information. This design necessitates data security and privacy protection measures, such as data encryption and access control, to safeguard user information. Protecting user data security is a technical requirement, as well as an ethical and legal obligation.

In conclusion, Shenzhen Weiyan Technology's patent application for "A Method, System, Terminal, and Storage Medium for Generating a Fraud Detection Model" holds significant innovative significance and application value. By combining blockchain technology and advanced data analysis methods, it effectively addresses the challenges banks face in malicious overdraft risk control, building a more secure and efficient risk control system. Its application will not only reduce banks' malicious overdraft risks and improve security, but also provide a replicable and effective risk control model for the entire financial industry, contributing to a safer and more reliable financial environment. Future refinements and applications of this technology will profoundly impact financial risk management and drive further fintech development. Its successful application marks a new breakthrough in China's fintech sector, enhancing its global competitiveness and profoundly impacting the future development of China's financial industry by providing strong technological support for building a safer and more efficient financial system. The promotion and application of this technology align with national policies encouraging technological innovation and fintech development, contributing to the digital transformation and high-quality development of China's financial industry. We can expect wider applications of this technology, bringing more benefits to socio-economic development, while enhancing data security and privacy protection measures to mitigate potential risks.