Fi911, a Chargebacks911 brand, has enhanced DisputeLab, a solution designed to help banks, credit unions and merchant acquirers resolve chargebacks more quickly and efficiently by optimizing each step in the dispute cycle, according to Monica Eaton-Cardone, founder of Chargebacks911 and Fi911.
"Fi911 supports financial institutions with innovative back-office automation technologies created specifically for banking and financial institutions," Eaton-Cardone said. "By supporting direct communications between FIs and their ecosystems, our scalable product suite offers features that range from fast, flexible merchant onboarding to highly transparent and feature-rich client portals." Eaton-Cardone noted that Chargeback911 experts brought their experience to bear in building DisputeLab, a real-time dispute management solution. When paired with Chargebacks911's merchant portal, DisputeLab users can help acquirers automate and remediate chargebacks for all types and sizes of merchants, she added.
Commenting on rising threat levels of chargebacks and friendly fraud, Eaton-Cardone said that DisputeLab can protect acquirers and partners against fast-paced, dynamic events that give rise to chargebacks. In reviewing the product's features and benefits, she noted that DisputeLab offers:
Eaton-Cardone pointed out that DisputeLab is the first cloud-based SaaS automation solution for dispute financial processing. The platform directly connects with Visa and Mastercard APIs, she added, and supports minor scheme networks and numerous alternative payment methods while treating all cases in a fair and consistent manner. In addition to improving the end-user experience, DisputeLab offers numerous benefits to Fi911 sales channel partners and distributors, Eaton-Cardone stated, adding that partners have been pleased with the platform's easy deployments and value-added features. The DisputeLab dashboard, for example, provides real-time metrics on chargebacks by region, source and code to simplify validation scoring.
"There are nearly 50 financial institutions on the platform to date, including some of the largest acquiring institutions, including JP Morgan Chase and FIS Worldpay," Eaton-Cardone said. "DisputeLab is revolutionizing the dispute process and bringing digital modernization to every stakeholder in the value chain."
Eaton-Cardone went on to say that DisputeLab promotes industry-wide savings while helping acquirers and their merchants tackle the ever-growing chargeback problem. The platform simplifies residual pay-outs by enabling users to seamlessly manage merchant risk and reserves. Its agile, self-managed rule engine can handle complex rulesets and trigger sequencing, she noted, and built-in notification modules manage communications, templates, field tokens and response monitoring.
Additional partner benefits include automated workflows for all case types, Eaton-Cardone stated, enhanced by AI technology that quickly extracts key data attributes and a dynamic rules engine for added quality control and compliance. These capabilities enable acquirers to handle cases at all points in the dispute cycle, she added, from retrieval requests to arbitration.
The Green Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information.
Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.Prev Next