The Washington release includes several exciting developments to Financial Services Operations, most notably a strategic alliance with Visa that will allow financial institutions to efficiently resolve disputes, with a single workflow, directly connected to Visa guidelines.
Fast-track dispute resolution to drive customer loyalty and growth
ServiceNow Disputes Management, Built with Visa:
ServiceNow, the leader in digital workflow, has partnered with Visa, a world leader in digital payments, to drive productivity and reduce costs – from call center to new innovation, to dispute operations and compliance.
ServiceNow Disputes Management, Built with Visa, will make it possible for financial institutions to effectively handle the spike in card dispute volumes, which have risen substantially since 2019. With new, sophisticated fraud techniques, changing regulations, increases in online transactions, and the evolving behaviors of customers and employees, the pace of change in card disputes demands a single pane of glass view into all data and information. ServiceNow Disputes Management, Built with Visa makes this possible. Additional benefits financial institutions can expect from this new offering include:
- Faster and more accurate dispute resolution with one experience and work orchestration layer across teams, technologies, and data. Have one case management system versus multiple.
- Reduced contact center volumes with quick decisioning and automated resolution.
- Better time and cost efficiency with pre-configured integrations with up-to-date Visa guidelines. Integrations with Visa Resolve Online (VROL), which also includes Order Insights, Rapid Dispute Resolution (RDR) and Visa Risk Based Auto Dispute (VRAD), include intuitive questionnaires, reason code mapping, chargeback eligibility specific to Visa rules, and ongoing rules maintenance, for fast and efficient decisioning without the need to reconfigure internal legacy processes to adhere to updated rules.
- Improved operational agility and speed to value with easy deployment of additional Visa services as needed.
- Seamless adherence to compliance through automation, alerts, and audit trails. Rules and SLAs aligned to key regulations (Reg E and Reg Z) embedded into workflows.
- Transparent oversight of dispute processes with performance analytics, process analysis and insights, dashboards, and reports for disputes.
- Improved customer experiences with tools like AI-powered chatbots that can quickly answer questions, act on solutions, and route requests to the best equipped agent.
Reduce dispute-resolution cycle times
Dispute Agent Workspace:
As we continue to focus and invest in our dispute management capabilities, another enhancement in Washington is our Financial Services Operations Dispute Agent Workspace. This workspace helps reduce dispute-resolution cycle times with a purpose-built dashboard for dispute agents that provides them with the most pertinent tasks and data all in a single view. Some of the impactful benefits financial organizations can see by leveraging Dispute Agent Workspace are:
- Resolve disputes faster with end-to-end dispute history in a single view.
- Provide transparent status visibility to customers through pre-populated email templates for each step of the dispute journey.
- Prioritize the most critical tasks using process based layouts, which allows users to reduce tabs and excess activity to display only the tasks and activities related to the specific stage of the dispute journey currently being worked on.
- Obtain 360-degree views of all customer transactions.
Learn more:
In addition to these key enhancements, banking customers also benefit from additional new and impactful features including Voice Routing with Amazon Connect using AWA, Process Experiences on Portals, Service Model Foundation: Business Location 360-view, and Service Catalog Agent Experience. To learn more about these features, check out the Customer Service Management blog.
To learn more about our offering with Visa, please visit the ServiceNow Disputes Management, Built with Visa page and read the press release announcement introducing the offering.
For more information on Financial Services Operations, visit the product page.
