Chordiant Announces New Card Dispute and Charge Back Functionality

Thursday 12 February 2004 08:54 CET | News

Chordiant Software has expanded its retail finance offerings by adding new functionality for card issuers.

The solution, designed specifically for addressing customer-related card disputes and charge backs, includes support for all critical front and back office processes, as well as specialised processes commonly associated with types of dispute, contact history, charge backs, arbitration, compliance and appeal. Additionally, the solution provides support for document or content management associated with critical dispute-related customer communications, such as affidavits. The offering includes support for Chordiants Straight Through Service Processing (STSP), which automates front-to-back office processes associated with customer interactions around card transactions. STSP, when combined with Chordiants Contact Center and Retail Channel solutions, enables significant improvements in productivity as customer facing staff are better equipped to capture dispute information, while managing more of the dispute, by guided processes delivered through a browser role based desktop. Front office staff are able to resolve more disputes on the spot, thereby reducing the need for specialised dispute trained agents. This capability, together with reduced training times and scripted processes, improves the customer experience while also increasing employee satisfaction, as disputes are managed more effectively and efficiently. Use of the Chordiant 5 Rules Designer and the Chordiant 5 Rules Server enables retail financial services customers to encode their Visa and MasterCard regulations, thereby increasing consistency in execution of a dispute or charge back and improving their ability to comply with card operating regulations. Chordiant’s business-friendly tools also make it easy for issuers to change their card dispute and charge back related processes as business or regulatory changes are issued from Visa or MasterCard. The ability of Chordiant to integrate with and leverage existing data, applications, systems and processes, enables card issuers to modernise their dispute and charge back capabilities quickly and iteratively, thereby mitigating risk during deployment. Reuse of business and system services also helps to reduce time and costs of project delivery. Chordiants existing card and retail banking customers include Bank of Ireland, Barclays, Chase, CIBC, Deutsche Bank, Lloyds TSB, and the Royal Bank of Scotland. The solution, which was developed with input from several leading card institutions, is slated for delivery to existing key Chordiant customers this quarter and will be generally available in the second quarter of 2004.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce