Card Dispute Management System

Overview

WNS-Vuram’s card dispute management system helps financial institutions to handle the entire card dispute cycle and workflow. It helps to manage issuing side chargebacks integrating both front and back office starting from dispute request intake to chargeback workflow for the issuing side and processing the incoming chargebacks requests on the acquiring side as well.

• Increasing chargeback requests with increasing digital transaction
• Handling chargeback requests is a very labor-intensive process
• Non-availability of tools in front and back office to take a right decision to avoid invalid/fraudulent requests
• Multiple disjointed systems leading to non-transparency and non-compliance
• Increasing chargeback TATs and costs

Key Features & Functionality

• Dispute intake: Customers can request disputes using multiple channels like phone, email, chat, and self-serve portals, which are handled by agents from a single platform.
• Identification of reason code: Helps agent to identify the right reason code for a dispute to evaluate timelines and set the right priority using a proprietary algorithm.
• Validate/Assess dispute requests: Back officers can evaluate transaction logs and eliminate ineligible dispute requests declining the false cases.
• Fraudulent Verification: Back officer can escalate/assign the dispute request to the fraud investigation/compliance team for investigation, risk assessment, and regulatory compliance if required. The ability to connect to credit agencies for customer credit scores and dispute history helps to understand the fraud signals.
• Automatic email acknowledgment: Right communication at the right time to cardholders, merchants & chargeback officers.
• Chargeback Workflow: Track chargeback requests both on issuing and acquiring at various stages like resentment, pre-arbitration, arbitration write-off, etc.
• Log payment entries: Posting accounting entries for the settled disputes and sending them to core banking systems via the nightly process.
• Integrations: With low-code pre-built connectors and data fabric CDMS can integrate with card schemes & other existing systems.
• Analytics: Merchant and customer data helps to understand their dispute request patterns for easy decision making.
• Reports: With pre-built connectors CDMS helps in seamless integration with card schemes & other existing systems for improving the efficiencies.

Benefits & Business Impact

• Reduce the dispute handling costs and time.
• Increase productivity of the agents and chargeback team handling the requests.
• Improved auditability and compliance with automated workflows.
• Reduce fraud and financial losses.
• Quick to adapt to the regulatory changes.
• 360-degree view of the request and related data for better decision making.
• Improved customer satisfaction.

Vuram's Card Dispute Management System is a 2019 AppMarket Award Winner