Creating a Velocity Rule Containing Dependent Criteria

With velocity rules you can monitor if pending alerts exceed a number of defined events within a given period.

Create a velocity rule for declined transactions in a given period with a set amount.

The velocity rule GE3 Tran GE$5 in 24H analyzes pending alerts for more than three declined transactions in a 24-hour period for a transaction amount over USD5.

Create a rule as explained in Creating rules with history criteria with "GE3 Tran GE$5 in 24H" as the rule name, and with the following criteria:

Declined Transaction

1. Click Add in the Create Rule step of the Create Rule and Action Wizard.

2. From the Criteria list menu, select NOT and RESPONSE_CODE and =; enter 00 in the input field for that list menu.

Transaction amount over USD5

1. Click Add to obtain another set of criteria list menus.

2. From this Criteria list menu, select IS and AMT_CH_BILL and >=; enter 5 in the input field for that list menu.

3. Click Save & Next in the Create Rule and Action Wizard.

More than 3 events in a 24-hour period

1. In the Create History Criteria step, set the analysis level in the Aggregate By list menu to Relationship Level.

2. From the Value to Sum list menu select AMT_CH_BILL.

3. In the Sum Threshold list menus, set the volume to >= (Volume Greater Than or Equal) and enter 0.

4. In the Frequency Threshold list menus, set the velocity to >= (Velocity Greater Than or Equal) and enter 3.

5. Ensure that the selection for the distinct count function (Difference; Same) rule is set to None.

6. Set the value for the Days field to 1, and ensure that the values for Hours and Mins are set to 0.

   Alternatively, you could set the value for Days to 0, and that for Hours to 24.

The defined criteria are now all displayed in the Summary accordion of the Create Rule and Action Wizard dashboard, and the procedure is completed. Complete the Create Rule and Action Wizard, navigate to the rule you have just created, and activate it by clicking Toggle Rule.