Create a Custom Risk Score

1. Navigate to Risk Score:

2. Click + Create new risk score in top right corner of chart:

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I can't create a Custom Risk Score!

You can check if you can create a Risk formula by going to Setting -> and see if you profile has “Create Risk Score” enabled

3. A new “Create Risk Score” page will open.

Section: Risk Score

First, type in a descriptive short name for your risk score.

Section: Choose Variables

In this section, you will create your custom risk score formula using variables.

Agents must select a minimum of 1 variable.

The Custom Variables can come from two places:

• Variables sent in by your developers using our APIs when creating or updating an entity.
• Enabling the Socure third party CRS and sending in the data via our APIs.

Simply select the variables you wish to use in your formula:

For each selected variable, click Define Risk Range.

This will bring up a prompt to Add Mapping Function. Click the button:

The mapping function defines the relation between the variable's value and the risk value as "data points".

For example:

The logic for the variable and risk value is as follows with 6 data points:

• If this entity has 0 Associated Cases in the last 6 months, the risk value is 0.
• If this entity has 2 Associated Cases in the last 6 months, the risk value is 20.
• If this entity has 4 Associated Cases in the last 6 months, the risk value is 40.
• If this entity has 6 Associated Cases in the last 6 months, the risk value is 60.
• If this entity has 8 Associated Cases in the last 6 months, the risk value is 80.
• If this entity has 10 Associated Cases in the last 6 months, the risk value is 100.

You can add as many data points as you wish using the Add Point button. You can delete erroneous relations using the Clear Points button.

4. Preview the Sample entities widget:

Section: Preview Sample Entities

This table is a preview of the scores generated from the variables you selected in the previous “Choose Variables” section.

We score 100K random entities for you to review. This is a good time to check your results and update your mapping functions and variables.

5. Define the Risk Score Weight to dynamically adjust your risk formula.

In this section, agents can set the weight of each individual variable as it pertains to the final risk score.

This is the final part of the Custom Risk formula which, in turn, will calculate the CRS.

Section: Define Risk Score Weights

Agents can dynamically change the weight of each variable by dragging the sliding indicator LEFT (reducing weighting) or RIGHT (increase weighting).

The total weight should add up to 100%. For example:

Additionally, weighting of a variable can be set to zero (wherein this variable will not be used in the Custom Risk formula).

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Weighting does not need to add up to 100%.

Your score weights don't have to be exact, we will adjust them for you so they add up to 100% automatically.

6. Preview the Risk Score chart to inspect the results of your CRS:

In this section you can preview the CRS on 500K randomly selected entities to make sure you are satisfied.

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My Previous Risk Score chart isn't showing anything!

You can hit the Refresh button to update your Score chart.

The chat y-axis shows the "Number of bucketed Entities". The x-axis shows the "Risk Score".

This chart is dynamic; if the risk score formula weighing changes so will the chart (it may take a few seconds to refresh - you may use the Refresh button to update the chart).

7. To finalize the CRS agents must click the Deploy Risk Score button:

Your CRS has been activated. It may take up to 24 hours for the scores to update.

A Quick Example:

Let's take an entity with:

• a score from Socure of 40,
• 2 cases in the last 6 months,
• 11,000 transactions in the last 6 months,
• and an age record of 3 years.

The Risk Score for this entity is 12. It is very low and this is a safe and trustworthy entity.