BankWise Technology is excited to announce significant enhancements to the Dispute Management module within our flagship product, Happy Banker. These updates are designed to streamline operations and enhance efficiency for financial institutions handling debit card disputes.
Key Enhancements to the Dispute Management Module:
- Transaction Processing Capabilities:
Happy Banker now allows banks to process transactions directly through the module, including actions like Provisional Credit and Charge Off. The system's flexible configuration automatically selects the appropriate General Ledger (GL) account type based on multiple factors, such as the account, dispute type, and card BIN. This automation ensures accurate transaction handling, saving time and reducing human error. - Automated Interest Calculation:
Eliminating the need for manual calculations or complex spreadsheets, Happy Banker can now automatically pull the correct interest rate from the core banking system. It calculates the accurate interest amount based on the number of days since the dispute was reported, ensuring compliance and precision in financial adjustments.
Benefits for Banks and Compliance Departments:
- Streamlined Dispute Management: The enhancements simplify the entire process of managing debit card disputes, from transaction processing to regulatory compliance.
- Enhanced Regulatory Compliance: With an automated system, banks can ensure adherence to Regulation E requirements more effectively, reducing the risk of compliance issues.
- Improved Operational Efficiency: Automated reminders and correspondence management ensure that important deadlines are never missed, and disputes are handled promptly and accurately.
The updated Dispute Management module is now available to all Happy Banker clients. New customers are invited to reach out via our website at www.bankwisetech.com for more information.
About BankWise Technology:
BankWise Technology is a premier provider of technology solutions to financial institutions. Originating from an internal development team at a bank in Upstate NY, BankWise is now leveraging its experience to provide tailored technology solutions for automations, data warehousing, and system integrations. BankWise solutions are used in a variety of areas like operations, compliance, retail and commercial banking, lending, digital banking, wealth management, and insurance. BankWise Technology is headquartered in Saratoga Springs, NY. To learn more, please visit bankwisetech.com or follow on LinkedIn or X.