In today’s fast-paced financial environment, financial institutions are under increasing pressure to handle fraud and dispute claims quickly, accurately, and in a way that minimizes losses to their organization. While regulatory compliance is essential, operational efficiency and customer experience are just as critical. Tracking the right Key Performance Indicators (KPIs) can provide actionable insights into your claims management process.
Below are three impactful KPIs financial institutions should monitor:
Recapture Rate
Recapture rate measures the percentage of funds recovered after a transaction is disputed, whether through merchant collaboration, chargebacks, merchant credits, or claim denials.
- Why it matters: A higher recapture rate directly reduces your institution’s losses, positively affecting the bottom line.
- How to improve it: Ensure your team has the tools and processes to pursue recoveries effectively and efficiently, from streamlined submission to merchant collaboration networks to automated chargeback processing.
Reopen Rate
Reopen rate represents the percentage of claims that were initially denied but later reopened by the customer or institution for an additional review.
- Why it matters: A low reopen rate signals that your claims are being resolved correctly the first time. High reopen rates may point to incomplete investigations, inconsistent decisions, or unclear customer communication.
- How to improve it: Use decisioning tools and clear documentation to support accurate initial resolutions, and communicate outcomes transparently to customers to reduce reopen requests.
Speed to Resolution
Speed to resolution tracks how long it takes to fully resolve a claim — from intake to final resolution (paid or denied).
- Why it matters: Faster resolutions improve customer satisfaction and reduce operational costs.
- How to improve it: Streamline intake, automate routine tasks, and leverage case management workflows.
What Matters Most
Monitoring these KPIs gives your financial institution a clear picture of your fraud and dispute management performance. By increasing your recapture rate, reducing your reopen rate, and shortening your speed to resolution, you can lower losses, improve regulatory compliance, and deliver a better customer experience. QFD® is designed specifically to help financial institutions increase recapture rates, lower reopen rates, and resolve claims faster, all while staying compliant and improving the customer experience.
