Card Dispute Management System

Overview

Vuram's Card Dispute Management System handles the entire dispute cycle including write-off, representments and chargebacks.  The application helps the bank representatives capture all of the required information in a dispute and attach documents to the case if any. The Dispute resolution team then analyzes each transaction in the dispute to determine the appropriate action on it.

Key Features & Functionality

• Dispute record holds any number of transactions that requires actions such as write-off, decline, charge-back or compliance. 
• Audit trail for each activity on any transaction.
• Dispute initiation via multiple means is supported - inbound phone call to an agent, via chat or direct branch walk-in. 
• Availability of an IVRS system in a customer support number, where mandatory verifications are performed. Post successful verification the customer is routed to an agent on the Appian application.
• Ability to add notes and upload documents related to the dispute that helps to resolve the dispute faster.
• At any point of time during the dispute analysis the transactions can be added to dispute record from the bank transaction system and it is resolved.
• Ability to allocate any transaction for different actions and track it via allocation history with detailed information.
• Creation of posting entries for write-off actions where the debit and credit are done across respective account numbers.
• Ability to update the posting entries to the transaction system of bank via nightly process.
• Ability for the Dispute analyst to reach out to the customer to request for any documents, bills or invoices related to the transactions at any point of time. On request an Email notification is sent to the customer.
• Assignment of any transaction to a Compliance team for special investigation to decide either to decline it based on the level of risk, fraudulent rules or proceed with write-off.
• Restart any transaction or call back the action taken on any transaction.
• Ability to run through all stages of charge back process that includes rep-resentment, pre-arbitration and arbitration.
• Generation of a settlement report to aid banks in filing the total settlement summary on write-off across different branches.
• Ability of the application to integrate with different banking systems for source data.

Benefits & Business Impact

Disputes and chargeback processing is a labor-intensive and costly process for many Financial Services institutions. With this application, a faster card dispute card resolution can be achieved which can lead to increased profitability on the card portfolio of banks. It also helps to minimize human error and mismanagement and therefore reduce the customer attrition rate.

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