Self Service for Dispute Management (SSDM)

The COVID-19 crisis has had a profound impact on Banks and Card Issuers to meet increased and instant access to finance. This surge of transactions adds pressure to resolve customer disputes, fraudulent claims in a timely and efficient manner. Manual processes, errors and lack of communication can lead to a loss of customers, operational efficiency, revenue and reputation, which runs the risk of incurring regulatory fines

Estimated Costs

• Annually the Top 15 US banks spend approximately $3 BN on disputes processing combined
• Annually, the US Banks resolve roughly $50 to 100 million disputes in the US
• Average cost per dispute ranges from $10 to $50

Bits in Glass Self Service for Dispute Management (SSDM) Key Features

• Interactive Claim Reports
• Pre-built Write Off Rules
• Pre-defined & Configurable STP
• Industry Standard Editable Questionnaire
• Pre-built Integration with MasterCard API
• Notifications/ Subscription Services
• Full Case Lifecycle- Reassignment/ Deduplication
• Easily Configurable Processes

How It Works

• 100% Configurable to any bank’s website/m-site/app
• Facilitates the banks dispute customer journey by using a 4 Stage process to address customer needs
• Includes industry-standard questionnaire
• Simplified workflow to raise the disputes in just a few clicks.

Benefit to End User

• Saves Time for Banking Customer
• 24x7 Access to Raise Disputes
• Ease of Use
• Real-Time Status Alerts
• Tracking
• Reporting Capabilities

Benefit to Card Issuing Bank

• Reduces Cost
• Reduces Human Errors
• Ease of Deployment
• Less Time To Market
• Increases Productivity
• Dashboard and Reports
• Low-Code Solution

The solution enhances the business output in the below areas

• Clear View of the Dispute
• Real Time Dispute Status
• Reduction in Call Volumes
• Reduce the Average Dispute Handling Time
• Reduction in Human Error
• Provides Efficient Customer Service
• Productivity Gains
• Large Cost Savings
• Increased Customer Satisfaction
• Improved Banks Performance Impact