Over 80% Reduction in Chargeback Case Aging & Prevention of Losses for Merchants.
Overview
A prominent chargeback management company, serving a major issuing bank, faced significant challenges in handling chargeback cases efficiently. The client sought Coforge's expertise to streamline their processes, reduce case aging, and improve overall operational efficiency in managing chargebacks for their banking client.
Challenges.
The client encountered several obstacles in their chargeback management process:
Huge backlog of charge back cases
Limited manpower onshore
Average case aging was 31 days, against a desired aging of 14 days (about 2 weeks)
Potential risk of merchants losing re-presentment timeframes and incurring loss for legitimate transactions
Significant risk of client losing their merchant customers
Solution.
Coforge implemented a comprehensive solution to transform the client's chargeback management process:
Processing team split in two groups
Attack within timeframe cases
Attack closer to regulatory timeframe cases
Additional resources identified from other chargeback spaces for quick deployment and cross training
Core team as well as additional cross-trained users deployed
Overtime for extra hours rolled out for ‘closer to timeframe cases
Robust quality control and feedback mechanism implemented to ensure proper re-presentment of cases to avoid merchant loss
The Impact.
80%
reduction Chargeback case ageing
30%
increase In operational efficiency
98.89%
Accuracy achieved
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