Financial institutions suffer billions in losses, expenses, and fines every year due to fraud, and the resultant impact on customer trust and loyalty presents an even bigger problem. 77% of customers say they would leave their bank if they do not receive a refund for fraud, yet conversely, 80% say they would leave their bank for blocking a legitimate transaction. Is there any way to win this battle? Absolutely! But financial institutions must be willing to move away from antiquated systems and outdated processes that can no longer keep up with ever-evolving fraud and account holder expectations.

After nearly 20 years of working disputes at a top two bank and dealing first-hand with the challenges of outdated systems, Joseph McLean, Founder & CEO of Quavo Fraud & Disputes stepped out on his own to develop a better solution to significantly:

• Reduce losses
• Enhance the account holder experience
• Improve operational efficiencies
• Ensure regulatory and network compliance

How did he do it? What were the results? What are financial institutions saying about the AI-driven automation technology that has transformed fraud and dispute management? 

*Data sourced by Feedzai