Credit Card Dispute Processing using RPA and smart workflow

Credit Card Dispute Processing using RPA and smart workflow

Our alliance partner Appian provides a low-code automation platform that accelerates the creation of high-impact business applications. Many of KPMG's biggest clients and some of the world's largest organizations use Appian's applications to improve customer experience, to achieve operational excellence, and simplify global risk management. Using Intelligent Automation technologies, financial institutions can create a simple, consolidated process for serving customers faster and across multiple channels.

This demo case uses intelligent automation and smart workflow to automate repetitive, rule driven tasks, so human employees can spend more time working with customers. Two examples show common credit card dispute scenarios. Using IA, it is cost effective for banks to charge all disputes back to credit card vendors, even if the dollar value is low. While these scenarios show Appian with Blueprism, other leading IA technologies can also be used.

Banks can use these technologies to proactively detect anomalies in accounts and notify the customer. Our demo customer may have been double-charged for a transaction. The bank emails the customer requesting to review their account for suspicious activity. The customer logs into their web banking application, reviews their account and spots a duplicate charge. After reviewing the details, he decides to submit a formal dispute. At this point, Appian manages the process to submit the dispute. The customer may add details such as full/partial amount or previous contacts with the business about the transaction and also upload receipts or other documents. Once submitted, the customer receives a confirmation, as well as status updates throughout the dispute lifecycle.

Now Appian integrates with BluePrism which collects the customer’s dispute data to automatically process the full chargeback without human intervention. The bot logs into the major credit card service provider’s web sites to submit the chargeback data. The provider sends an automated notification to the bank to validate the chargeback was successful. For reporting, Appian provides dashboards with reports that can display processing volumes, service level agreements, average cycle times and number of exceptions.

With software robots, banks can process about 95-100% of chargebacks, including low dollar value ones, saving an estimated 75-90% costs per transaction. Financial institutions can use the same process and solution in call centers and branches to consistently service customer across all touch points.