RISK ASSESSMENT SYSTEM AND METHOD FOR EVALUATING AND SCORING SMALL BUSINESSES ENGAGED IN CROSSBORDER TRADE

The risk assessment system for evaluating and scoring small businesses engaged in cross-border trade, includes a computer system connected to one or more buyer devices, one or more seller devices, an Internet of Things (IoT) module and a blockchain framework. The computer system functions to receive...

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Bibliographic Details
Main Authors Pasha, Azam, Majhi, Rohit
Format Patent
LanguageEnglish
Published 08.08.2024
Subjects
CALCULATING
COMPUTING
COUNTING
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES
PHYSICS
SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Summary:The risk assessment system for evaluating and scoring small businesses engaged in cross-border trade, includes a computer system connected to one or more buyer devices, one or more seller devices, an Internet of Things (IoT) module and a blockchain framework. The computer system functions to receive various data inputs, including user-uploaded, third-party, and platform data and employs an optical character recognition (OCR) data extractor to process these inputs and utilizes artificial intelligence (AI) models to generate processed data. The computer system further calculates a transaction history score by analyzing payment discrepancies and integrates IoT data for comprehensive risk assessment. Utilizing a proprietary risk scoring model, the computer system generates a buyer risk score or a seller performance score, ranging from 1 to 1000, providing a dynamic and data-driven solution for risk evaluation in international trade. The respective scores may then be displayed on the buyer and seller devices.
Bibliography:Application Number: US202418430261