$1Mn recovered from charged off disputes during pandemic

The Client

A Top 20 U.S. Bank

Challenge

• Huge spike in card disputes triggered by the pandemic situation primarily due to:
• Prepaid orders for merchandise/ services not received
• Cancellation of services which were no longer available
• Write-off threshold on disputed transactions raised from $20 to $50 to manage volume spikes resulting in significant losses for the Bank
  
  

Solution & Execution

• Coforge Card Dispute CoE team aligned to the project to manage volume spikes
• The team identified a solution for helping the Bank recover losses
• To revisit all charged off cases
• To identify available chargeback rights
• Process recovery chargebacks
• Overtime rolled out to get through the additional population of such recovery cases ()
• Chargeback processed on all identified cases with a quality of 98.54%
  
  

Value Delivered

• Enabled the Bank to have additional loss avoidance of $1 million
• Processing accuracy of chargebacks on cases identified for recovery at 98.54%, thereby ensuring no regulatory/financial impact to bank