Fiserv, a US-based provider of financial services technology solutions, has unveiled a solution to extend the automation of disputes management for debit and credit card transactions with Adjustments Express Cards and All Transactions File Cards.
Fiserv Adjustments Express is an image-based, workflow-enabled system that automates back-office case management processes. Fiserv claimed that the Adjustments Express Cards, in addition to processing check and ACH adjustments faster and easier, will allow banks to do the same for their credit and debit disputes.
The Adjustments Express solution will integrate with either Fiserv or another third-party card transaction processor solution to perform dispute resolution and case management for card members.
Using the new Adjustments Express module, financial institutions will be able to send case information to and from the third party card transaction processor solution, allowing the institution to quickly and easily resolve card related disputes while eliminating redundant activities, improving compliance and increasing operator productivity.
Operators working to resolve the card cases will use Adjustments Express’ workflow rules, timers and edits to drive resolution based upon card network mandated dispute resolution guidelines.
All Transactions File from Fiserv is a centralized database that stores multiple data types including check transactions (paper, image and returns), ACH transactions and card transaction data. All Transactions File will store card-related transactions and integrate with Adjustments Express to enable online access to transaction data and images, eliminating manual research processes and empowering operators to resolve cases more quickly.
Beverly Nichols, product manager for case management and resolution solutions at Fiserv, said: “Many banks are using a home-grown solution to track disputes internally, often re-entering case data into a separate card disputes tracking system. This results in time-consuming inefficiencies, errors and a poor customer service experience.
“Adjustments Express and All Transactions File give clients the ability to keep all case information in one database, regardless of payment type, and uses an automated research process to streamline back-office case resolution processes, yielding greater results for organizations.”