The Dispute Management module within BankWise Technology's Happy Banker platform is designed to streamline the handling of electronic transaction disputes. This robust solution ensures compliance with Regulation E (Reg E) while enhancing operational efficiency for financial institutions.
Key Features:
- Supports Multiple Dispute Types:
- Efficiently manage disputes related to Debit Card, ACH, and Zelle transactions, providing a comprehensive solution for electronic transaction dispute handling.
- Comprehensive Transaction Processing:
- Directly process transactions such as Provisional Credits and Charge Offs within the module.
- Automatic selection of appropriate General Ledger (GL) account types based on factors like account details, dispute type, and card BIN, ensuring accuracy and reducing manual effort.
- Automated Interest Calculation:
- Seamlessly retrieves the correct interest rate from the core banking system.
- Calculates precise interest amounts based on the duration since the dispute was reported, eliminating manual calculations and potential errors.
- Regulatory Compliance Support:
- Automated reminders to ensure adherence to Reg E timelines and requirements.
- Comprehensive tracking and documentation to support compliance audits and reporting.
- Correspondence Management:
- Generate documents based on customizable templates, ensuring consistency and efficiency in communications.
- Simplify the management of regulatory notices and customer correspondence by generating ready-to-send documents, reducing manual workload
Benefits:
- Operational Efficiency: By automating key aspects of dispute management, financial institutions can reduce processing times, minimize errors, and allocate resources more effectively.
- Improved Customer Experience: Efficient and accurate dispute resolution enhances customer satisfaction and trust.
- Risk Mitigation: Comprehensive tracking and automated compliance features reduce the risk of regulatory penalties and operational losses.
The Dispute Management module is a comprehensive solution designed to help financial institutions efficiently handle disputes related to electronic transactions, including ACH, Zelle, and debit card disputes. It supports Reg E compliance, dispute tracking, provisional credit processing, automated interest calculations, and correspondence management.
For more information or to schedule a demonstration, please contact us or schedule a demo today.