Federal Circuit Invalidates Claim To Generating "Financial Risk" Reports

In the recent decision of Clarilogic v. Formfree Holdings, the Federal Circuit invalidated the patentee's (Formfree) claim to a "computer-implemented method for providing certified financial data indicating financial risk about an individual." In sum, Claim 1 of Formfree's patent recited (1) "electronically collecting financial account data" (e.g., historical transaction data) for an individual, (2) validating the data by "applying an algorithm engine" to identify exceptions that "indicate incorrect data or financial risk," (3) confirming the exceptions by "collecting additional data and applying the algorithm engine to the additional data," and (4) "generating, using a computer, a report from the financial account data and the valid exceptions."