New product innovation and engineering help resolve fraud claims expediently
A global provider of technology-collaboration solutions and real-time payments system that helps merchants and card issuers collaborate In real-time to tackle real-time fraud detection, real-time fraud monitoring and real-time transaction monitoring in digital commerce, wanted to address disputed small dollar amount digital transaction claims and digital claims processing which were traditionally written off contributing to increased costs.
Ness Developed a Customer Dispute Portal (CDP), showcasing its product innovation and engineering, which integrates merchant and issuer transaction details in a single interface to help resolve transaction fraud claims expediently. The CDP enabled the issuer to remediate issues via email communication and persist all audit information and documentation for fraud resolution.
This reduced chargebacks by 50% in the first phase of CDP, improving customer experience and fraud claim resolution, thereby decreasing costs.