Card fraud has been on the rise over recent years and is becoming one of the biggest issues faced by financial institutions. Customers will report card fraud as an unauthorized transaction or dispute claim. There are strict timelines that must be followed in place through federal regulations, however, a quick resolution is also important to build strong customer support and positive branding.
A solution is needed that provides the automation of an unauthorized transaction or dispute claim from the front lines to the back office, workflows to define the appropriate timelines, and automatic letter generation for everything from issuing a provisional credit to the resolution letters.
Dispute Management Solution
- Aithent provides a high tech solution with the following features & benefits:
- Analytics: Leverage predictive and behavioral rules to all rate the predicted level of loss and gain full insight into your data
- Automated Dispute Forms: Forms are designed with required fields to ensure that your teller or CSR collects all the appropriate information for the dispute
- Form Queue: Dispute forms can be automatically assigned to analysts or allow for analysts to ‘grab’ the next available dispute
- Ad-hoc reporting: build and design reports specifically suited for your institutional needs
- SAR E-filing: Automatically trigger, track, and electronically submit fraud Suspicious Activity Reports (SARs)
- Letter Generation: Generate provisional credit, resolution, and more letters
- Comprehensive Case Management: fully investigate your instances of fraud, discover trends, and build reports
Aithent’s dispute management solution is built and designed around a robust case management to help manage all of your dispute claims, ensuring that regulatory timelines are met. With automated dispute forms, it has never been easier or quicker for your front line to support customers through their dispute claim. Whether you have a team of one or a team of one hundred, Aithent has a tailored solution to work for you.
With Aithent you will receive excellent support throughout the lifetime of our solutions, quick deployment, industry experts to guide you through set up with best practices and workflows.
Banks and credit unions are faced with the constant threat of fraud, a threat that knows no boundary and is prevalent across all channels and payment types. To help fight fraud, Aithent has developed a solution that is case-centric, enterprise ready and allows for the easy ingestion of alerts generated by Aithent analytics-based solutions and third party systems. Aithent provides tools to analyze data easily, build informative reports, and manage teams of analysts and investigators while maintaining a robust audit trail of all actions being taken. The solution empowers users throughout the life cycle of the investigation using workflows and helps identify new patterns that can be used to reduce the risk of known fraud from recurring. With modules to support restitution, Aithent’s solution is designed to support all functions critical to loss prevention.
Click here to learn more about Aithent’s Fraud Management solutions.
Enterprise Case Management
The ever growing products and channels for customer access to their accounts appears to be satisfying your customers’, but it is also attracting the attention of criminals and fraud rings who are trying to hurt your customers and steal your money. Criminals look to exploit any and all vulnerabilities at your financial institution; across product lines and geographic regions. Regardless of institutional size, a solution that covers both fraud and BSA AML is needed, that allows for the sharing of information as needed, while keeping cases and sensitive information separate.
Click here to learn more about Aithent’s enterprise financial crimes management solution.
BSA/AML officers face constantly evolving challenges from criminals and terrorists and from regulators. While criminals and terrorists continue to adapt and invent new ways to launder money, regulators, to counter the ever-increasing threat, are evolving compliance requirements and heightening their focus on enforcement of the Bank Secrecy Act (BSA) and anti-money laundering laws. Aithent’s AML solution delivers a comprehensive platform that leverages state-of-the-art analytics to generate alerts and a comprehensive integrated alert and case management platform to facilitate compliance with all key regulations including BSA, Patriot Act and Office of Foreign Assets Control (OFAC) requirements.
Click here to learn more about Aithent’s BSA/AML Solution.