Use case: disputes QC review in 30-seconds with automation
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The Client
Top 20 US retail bank
Challenge
Faced challenges in quality control checks in the dispute resolution function for the Bankcards line of business
Manual quality checks needed to be performed on 100% of transactions to ensure that customer disputes were accurately investigated and relevant provisional credits/ appropriate interest charges had been made as per the guidelines
Solution
Team of 18 dedicated FTEs were aligned to review 22,000 disputed cases per month leading to higher fixed cost
Calculations needed to be performed on each transaction by referring to multiple applications
The entire manual QC process was not only time consuming but also led to higher number of human errors that led to financial losses
Execution
The Copasys® solution
Retrieved relevant data fields from source systems and mapped the data fields for automated upload
Configured rules in the application as per different business scenarios to meet process testing objectives
Validated and deployed new automated QC solution for dispute resolution process into the bank’s production environment
Application provided automated results as ‘Pass’ or ‘Fail’ or ‘NA’ as along with the calculations
Immediate remediation actions further taken on failed transactions by audit agents
Value Delivered
Reduction of QC review time from 2 hours to 30 seconds The Copasys® algorithm was used to audit 20 transactions
Improved accuracy in audits
Reduced QC cost dramatically with automation 18 FTE reduced to 6 FTE
