Optimizing Dispute Management in Banks Through Technology and Expertise

Disputes are an inevitable part of the financial landscape for financial institutions nationwide. Managing these disputes well can significantly impact customer satisfaction, operational efficiency, and regulatory compliance. This white paper explores the importance of leveraging case management solutions and expert services to optimize the dispute management process.

Payment Scams – AI to Rescue

According to the Federal Trade Commission (FTC), in 2023, 2.6 million customers reported fraud, imposter scams being the most dominant one, with a whopping 854K reports. Nearly one in five people lost money and fell victim to malicious activities like SIM swaps, phishing, and loan scams that continue to threaten customers and financial institutions. In this whitepaper, Sriram Natarajan, President, and Paresh Ashara, VP of Data Analytics, outline the inadequacy of traditional rule-based systems, calling for an immediate shift to advanced AI and ML solutions for adaptive fraud detection. Dive deeper into various scam tactics and learn how your financial institution can mitigate risks effectively.

Strengthening Fraud Prevention

Fraud continues to be a dynamic and multifaceted challenge, with numbers only rising yearly. 2023 alone witnessed losses of $10 billion, calling for immediate action by concerned authorities and financial institutions (FI). This whitepaper is a comprehensive guide to various challenges incurred in the financial services industry and places the cursor on a myriad of fraud prevention strategies. Read more to learn how FIs can effectively mitigate and manage these crimes by leveraging outsourcing.

Leveraging Actionable Insights

The recent technological breakthroughs have set the bar high for financial institutions in delivering superior CX across all the touchpoints. While some of the financial institutions are finding it intractable, others have already shifted their gears to harnessing customer analytics and leveraging this seminal customer change. Paresh Ashara, VP of Data Analytics, outlines how banks and credit unions are channeling the latest in technology to deliver the best experiences to their customers and members. Learn how top executives use data analytics to traverse this change and are taking a leap forward to stay relevant in the era of start-ups and neo-banks.