Credit Card Dispute Processing Platform
Finscend’s Banking Dispute Platform (BDP), which was introduced in 2018, is the most technologically advanced solution of its kind.
BDP was conceived and designed for banks, other financial institutions and credit card issuers by financial industry veterans who have a first-hand professional understanding of the challenges of dispute resolution.
The core of this unique solution is an AI-driven engine that streamlines the entire dispute process by offering real-time reporting, batch processing, fraud monitoring, and an an enterprise user account area. BDP employs proprietary tools to ensure that it integrates seamlessly within the banking ecosystem, and it works in tandem with Visa® and Mastercard® schemes.
By deploying BDP, banks can reduce the costs of chargebacks by an estimated 25 percent and significantly increase cardholder satisfaction.
The Finscend Bank Dispute Platform (BDP)
Integrate all the data that is needed to handle a credit card dispute from transactions to chargeback
Real Time Analytics
With intuitive Dashboards that include drill down KPI, you can finally understand what is really going on
AI DoN Scoring
Finscend unique proprietary AI DoN (Dispute or Not) determines the best approach for each dispute
Focused Dispute Processing
Finscend’s Bank Dispute Platform helps focus dispute processing on what is needed, when it is needed. No more spending hours on disputes that end up costing your bank more money in processing than the value of the dispute.
Lower Cost & Happy Customers
Focused processing lowers costs and improves customer satisfaction. With Finscend’s BDP, dispute processing converts from regulated processing to customer satisfaction processing.
The Real Cost of Dispute Processing
Dispute processing is big business. According to McKinsey Consulting the top 15 banks in the U.S. spend $3 billion annually to handle their own dispute processing.
Finscend is revolutionizing the way disputes are processed by creating a solution that will streamline and simplify the entire process.
The Finscend Bank Dispute Platform (BDP) will reduce a bank’s dispute processing expenses by up to 40 percent. This will be accomplished by:
- The creation of a seamless end-to-end system that begins with customer onboarding and extends all the way to chargeback processing (when needed).
- Placing all relevant information onto one clear dashboard that allows bank personnel to quickly process disputes and their managers to monitor workloads and analyze data.
- Providing an AI-generated score that indicates what the best outcome would be for any dispute.
Apart from slashing operating costs, the combination of these three critical tools in one single platform will dramatically expedite dispute processing, ensure compliance and increase customer satisfaction.