The Real Cost of Dispute 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:

  1. The creat­ion of a seamless end-to-end system that begins with cust­omer on­boarding and ext­ends all the way to charge­back pro­cess­ing (when needed).
  2. 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.
  3. 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.

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