21 September 2017
Visit http://response.ncr.com

Pegasystems upgrades Smart Dispute payment resolution system

22 January 2014  |  1862 views  |  0 Source: Pegasystems

Pegasystems Inc. (NASDAQ: PEGA), the leader in Business Process Management (BPM), and a leading provider of Customer Relationship Management (CRM) solutions, today announced the latest version of its industry-leading Smart Dispute for Issuers solution.

The expanded capabilities of Smart Dispute consolidate most consumer payment disputes and fraud claims under one, unified solution with added coverage for ACH, ATM and PIN transactions plus comprehensive service level agreement monitoring and automation for Regulation E. This solution enables banks to better comply not only with existing known regulations, but also facilitates easy adoption of new regulations all while enhancing the experience of valued customers. Additionally, parent-child subcase management and processing capabilities have been increased to help banks better address escalating instances of fraud and multi-transaction claims.

Smart Dispute for Issuers, powered by Pegasystems' Build for Change® platform, helps banks "future-proof" their technology investments and break down operational silos by using Pegasystems' industry leading Business Process Management (BPM) and Dynamic Case Management (DCM) engine. The solution enables increased business agility to help automate timely resolution of disputes, claims and chargebacks. By improving straight-through-processing rates for basic disputes, organizations can focus resource efforts towards priority cases.

Pega's Smart Dispute for Issuers enables organizations to:

Increase Operational Efficiency - Process automation and systems integration minimize manual work and routine tasks to enable up to 40 percent greater operational efficiencies.
Improve Regulatory Compliance - Automated Service Level Agreements, correspondences, accounting and process management helps eliminate inadvertent errors introduced by human processing to comply with Consumer Financial Protection Bureau (CFPB) Regulations E and Z.
Decrease Network Compliance Costs - Semi-annual compliance subscriptions help cut costs required to modify reason codes, forms, timeliness, and documentation requirements.
Enhance Customer Experience - Work prioritized on customer criteria along with faster resolution increases customer satitomer satisfaction.
Reduce Staff On-boarding and Training - Intent-led user interfaces guide staff through appropriate processing procedures.

Quotes & Commentary:

"Banks are already facing significant market changes and stiff competition to provide superior customer experiences. They must also simultaneously comply with new and fast-changing regulations, such as by the Consumer Financial Protection Bureau," said Scott Andrick, Industry Principal, Banking for Pegasystems. "If banks aren't able to quickly and properly resolve disputes, claims and chargebacks in this challenging climate, they not only risk losing their focus on customer service, but they can also experience losses or fines. Pega's software helps banks better engage with their customers, simplify the complexity of compliance, and rapidly adapt to change."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comvisit www.sibos.comdownload the paper now

Who is commenting?

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
11470 views comments | 24 tweets | 41 linkedin
Equifax hack: Visa and Mastercard flag 200k compromised credit cardsEquifax hack: Visa and Mastercard flag 200...
10571 views comments | 6 tweets | 17 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
9301 views comments | 6 tweets | 3 linkedin
UAE banks pool cyber security dataUAE banks pool cyber security data
7845 views comments | 5 tweets | 4 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
7677 views comments | 18 tweets | 26 linkedin

Featured job

A minimum of £200K (not a limiting factor)
London

Find your next job