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.