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NewProduct

Shorten dispute time with cloud-based

chargeback management

Shorten dispute lifecycles
Quavo's premier SaaS platform QFD can fully automate the
dispute lifecycle, from intake through investigation, charge-
back recovery and resolution, the company stated, adding
that users can combine QFD with other Quavo assets such
as the back-office investigation team, Dispute Resolution
Experts (DRE), for a partial or fully outsourced fraud and
uavo, a provider of automated dispute man- dispute processing solution. For issuers experiencing high-
agement solutions for issuing banks and finan- volume fraud claims, Quavo's automated intelligence tool
cial organizations, added new capabilities to Automated Reasonable Investigation Agent (ARIA) per-
Q its cloud-based dispute management platform, forms entire fraud investigations within seconds to deliver
Quavo Fraud & Disputes (QFD). Enhancements to the plat- auto decisioning as a human would, without risk of human
form include Zelle and Bill Pay product updates, additional error, Quavo pointed out.
claim reasons in the intake questionnaire and verbal attes-
tation functionality for WSUD compliance, stated David The platform's advanced capabilities, when paired with the
Chmielewski, chief technology officer and co-founder of human intelligence of Quavo's back-office team, is perfect
Quavo. "We want to reduce account holder friction as much for issuers looking to outsource fraud investigation, the
as possible. For ACH, the process is cumbersome for con- company stated, adding that companies can add ARIA
sumers, with banks requiring physical or digital signage fraud and dispute software to create a complete disputes-
signatures," he said. "We poured over Nacha regulations as-a-service solution that automates dispute resolution.
and developed a verbal attestation solution where account New features the company mentioned include merchant
holders aren't bothered by manual signature requirements." collaboration to save chargeback fees; front- and back-end
CRM integration; self-service dispute transactions; real-
These recent changes are only the beginning of new prod- time status checks with ability to take action on cases in
uct rollouts planned for 2024, Chmielewski added, stating progress; enhanced reporting and analytics review; im-
that reimagining ACH requirements for automated back- proved workflows with customizable framework and pri-
office operations need to support account holders today oritization and connectivity that automates most actions
and in the future. As it stands, he noted, the platform re- through web services and robotic integration.
quires minimal to no configuration or customization from
an issuer and offers a consistent, reliable experience across Improve customer experience
numerous products and use cases.
QFD is ideal for banking institutions and fintech organiza-
Satisfaction, compliance, profitability tions of all sizes, Quavo stated, adding that the cloud-based
dispute management software offers build-as-you-grow
Chmielewski went on to say that since QFD is built on a features such as self-service, human intelligence investi-
premise of consistent, reliable processing supported by gative services, Spanish intake, and automated features
simple workflows, issuers are empowered to reduce ex- powered by advanced machine learning and artificial in-
penses and losses while increasing customer satisfaction telligence technology. QFD offers online filing, status and
and maintaining industry compliance. Back-office opera- communication, all of which can help financial institutions
tions are completely streamlined with automated return and service providers provide information to manage cus-
capability, enabling straight-through processing on ACH tomer expectations and build trust, the company stated.
disputes, Chmielewski noted. Additionally, QFD now fea- The platform gives organizations the power to reduce op-
tures a new signer disclosure allowing verbal attestation erational expenses while minimizing fraud losses and im-
during claim intake. When enabled, QFD prompts agents proving workflows, and best of all, claims can be resolved
to read a disclosure to the cardholder, thus satisfying the more quickly and with less manual intervention, to signifi-
WSUD requirement by Nacha without requiring a signa- cantly speed processing and reduce potential errors, Quavo
ture, he added. added.

The company's first client to go live with the newly en- Company: Quavo Inc.
hanced ACH functionality completed its first automated
return on Aug. 12, 2023, followed by the top 25 banks com- Product: Quavo Fraud & Disputes
pleting 12,436 returns and recovering $7.69 million in funds Website: https://quavo.com
without human intervention, Chmielewski stated.
Contact: www.quavo.com/contact-an-expert

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