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Automated Transaction Reconciliation & Dispute Management Solution

SOLUTION MODULES

Reconciliation module

  • Ensures the proper posting of credit and debit transactions and payment card association-related transactions

Dispute Resolution Management (DRM) module

  • Processes all unmatched and disputed transactions and exception items.

Customer Relationship Management (CRM) module

  • Encompasses extensive transaction and customer information inquiry facilities for customer service representatives to monitor the status of cases in real-time.

KEY DRIVERS

  • Transactions are conducted over various digital channels
  • Duplicate/unsuccessful transaction is generally recognized and escalated by the customer
  • Exponential credit balances on multiple suspense/intermediate accounts
  • Problems of transaction tracking
  • Time consuming and labor-intensive practices
  • Unable to identify duplicate settlement files sent by other acquirers resulting in monetary errors, losses, and unnecessary write-offs

BUSINESS OUTCOMES:

  • One-stop platform: effectively manages the day to day clearing and settlements, disputes, chargebacks, exceptions, and processing errors
  • Automated reconciliation: drastically reduces all the associated operational and labor costs
  • Proactive actioning: delivers the opportunity to attend to anomalies prior to receiving customer complaints
  • Accurate financials: with complete wipe-off of suspense/intermediate accounts before closing the respective operating day
  • Case & workflow management: to track important milestones and monitor activities in a real-time manner
  • Data-powered core: with all services of the solution organized around a common data repository where a wealth of intelligence can be gained through disputes to minimize the future impact on business
Epic Lanka