Press Release Summary:
Featuring image-based, workflow-enabled design, Adjustments Express(TM) software automates back-office case management processes. Adjustments Express(TM) Cards processes check and ACH adjustments, and will allow banks to do same for credit and debit disputes. Providing centralized database that stores card-related transactions, All Transactions File(TM) integrates with Adjustments Express to enable rapid, online access to transaction data and images, eliminating manual research processes.
Original Press Release:
Fiserv Introduces New Case Management and Resolution Solutions for Debit and Credit Transactions
Brookfield, Wis., - NACHA Payments Booth #400 - Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, today unveiled a solution to extend the automation of disputes management for debit and credit card transactions with Adjustments Express(TM) Cards and All Transactions File(TM) Cards from Fiserv.
Adjustments Express from Fiserv is an image-based, workflow-enabled system that automates back-office case management processes. Adjustments Express Cards, in addition to processing check and ACH adjustments faster and easier, will allow banks to do the same for their credit and debit disputes. The Adjustments Express solution will integrate with either Fiserv or another third-party card transaction processor solution to perform dispute resolution and case management for card members.
Using the new Adjustments Express module, financial institutions will be able to send case information to and from the third party card transaction processor solution - allowing the institution to quickly and easily resolve card related disputes while eliminating redundant activities, improving compliance and increasing operator productivity. Operators working to resolve the card cases will use Adjustments Express' workflow rules, timers and edits to drive resolution based upon card network mandated dispute resolution guidelines.
All Transactions File from Fiserv is a versatile, centralized database that stores multiple data types including check transactions (paper, image and returns), ACH transactions and card transaction data. All Transactions File will store card-related transactions and integrate with Adjustments Express to enable rapid, online access to transaction data and images, eliminating manual research processes and empowering operators to resolve cases more quickly.
"Many banks are using a home-grown solution to track disputes internally, often re-entering case data into a separate card disputes tracking system. This results in time-consuming inefficiencies, errors and a poor customer service experience," said Beverly Nichols, product manager, Case Management and Resolution Solutions from Fiserv. "Adjustments Express and All Transactions File give clients the ability to keep all case information in one database, regardless of payment type, and uses an automated research process to streamline back-office case resolution processes, yielding greater results for organizations."
Additionally, Adjustments Express helps financial institutions manage risk through application tools for work prioritization control, management monitoring through online reports and graphs, and operator and case monitoring through a robust case inquiry feature. Customer service has been enhanced through point-of-first contact case entry as well as inquiry, customer-specific special instructions, and management tools to enable the achievement of desired service levels.
An example of the Fiserv core competency in payments, Adjustments Express and All Transactions File (ATF) are part of Case Management and Resolution solutions from Fiserv. Together, these products are designed to increase productivity and speed resolution. Features of these solutions include automated research; rules-based decisioning; point-of-first-contact case input to minimize or eliminate manual data entry; electronic document storage; case- and customer-specific correspondence creation; passive and active special instructions; and an interface with FedWeb, the SVPCO Image Payments Network, Viewpointe(R) and PEP+(R) from Fiserv for upload and download of case data.
Fiserv, Inc. (NASDAQ: FISV) is the leading global provider of information management and electronic commerce systems for the financial services industry, driving innovation that transforms experiences for financial institutions and their customers. Ranked No. 1 on the FinTech 100 survey of top technology partners to the financial services industry, Fiserv celebrated its 25th year in 2009. For more information, visit www.fiserv.com.