Digital Bank reduces processing time by 75% by automating Disputed Debit Card Chargeback Processing

Automates a repetitive, time-consuming, and error-prone manual process

INDUSTRY

FinTech

REVENUE

Privately Held

Our client is a digital-only bank built at the cusp of technological advancement and banking expertise. Their web and mobile applications serve customers with premium banking services. As a bank with no physical branches, our client’s aim is to ensure their customers always have a positive digital experience through consistent and high-quality technical upgrades.

Challenges

The bank’s customers utilize debit and credit cards to make payments, and card issuers then process these payments in tandem with their banking system. In the case of fraud or transactional error, debit card-related disputes are raised. While these disputes are received and processed using an enterprise application, the intensely manual process made managing the sheer volume of disputes (thousands) quite time-consuming and prone to clerical errors. Additional challenges faced include:

Disputes received from numerous methods including calls and emails

Agents needed to manually check customer accounts to verify listed transactions and determine the next action for each dispute

The process involved a heavy amount of manual comparison work which led to potential inaccuracy in work queues

Reminders and other tools were required to ensure alignment across the dispute team

Solution

To resolve the above challenges, the Intelligent Automation experts at Emtec Digital leveraged Robotic Process Automation i.e. RPA to eliminate manual effort in the dispute chargeback process. The automated solution significantly reduces the number of steps required to navigate between systems and accelerates dispute resolution times – providing a better employee experience for the dispute team and improving the overall customer experience.

Customer experience – Dispute resolution time is drastically improved and the current chargeback backlog of 20-30 days is eliminated

Improved quality – Reduced risk of human error during data entry in internal enterprise applications by using APIs and consistent notes

Faster processing – Reduced time to resolution per chargeback by ~75% i.e. from 7 minutes to 1.5 minutes

Increased productivity – Analysts are now able to spend more time on higher value-add activities vs. administrative items

Reduced operational cost – Ability to redeploy existing resources / avoid hiring additional resources & improved chargeback rates (<120)

Value Generated

Digital-Bank-CS-Dispute-chargeback-infographic-2

Technology Stack

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