General
You do not need QFD™ in order to use ARIA®. ARIA® fraud management AI works with virtually any fraud and dispute management software.
After installing QFD™ our clients have: a robust, end-to-end platform that manages all claim types from intake to recovery and resolution enhanced customer experience across all channels reduced operational expenses assured regulatory compliance higher, more consistent recovery rates increased speed to resolution for their cardholders one call resolution and reduced average handle time Read First Tech’s QFD™ Success Story to learn more. Clients that use ARIA® reduce losses to fraud claims and remove the possibility of human error. Read the ARIA® whitepaper to learn more.
Quavo software integrates with virtually all core banking platforms.
Yes. Quavo’s fraud and dispute experts analyze pages of bi-annual association mandates and then work with our developers to automatically update Quavo’s software accordingly. Updates are provided to clients every April and October in accordance with any changes to network rules, significantly streamlining the fraud management process.
QFD™ automates dispute processing workflows for financial institutions and integrates with their core systems and channels, allowing account holders to report a dispute through a self-service portal, call center, or branch on a seamless and user-friendly platform. ARIA® is our AI solution that automates the reasonable investigation process and presents AutoPay, AutoDeny, and AutoRefer decisions in real-time to your account holders and agents on every channel. ARIA® is the industry’s only AI who performs the investigation, like a human would, and collects the data required by law to complete the investigation.
Call center, branch, online banking, mobile, email, and print letters are all supported for both intake and status updates.
Credit card, debit card, ATM, ACH, checks, wires, and P2P.
Visa, Mastercard, American Express, Plus, STAR, alternate networks, and additional networks are continuously being developed.
Features & Functions
Yes, notes can be added to a case at any point in time.
All system and user actions are recorded for audit purposes at both the transaction and case level.
There are 2 distinct types of Automation in QFD™. The first type, automated decisions, are available for the following decision points: automatic pay, provisional credits, authorization to posted transaction matching, sales draft requests, fraud reporting, fee identification, Chargeback reason code determination, general ledger determination, automatic representment acceptance. The second type, automated functions, are available for the following actions: block and reissue card, fraud reporting, accounting, letter sending (mail, email, and secure messaging), chargebacks, and representments.
For full automation, the following integration points are required: ARN, account number, auth code, card ID, acquiring network, customer information, account information, transaction details, network integration, block and reissue, accounting, email, mail, and document storage. View some examples of our integrations.
Account-holders can both create a new case and check the status of a case through online and mobile banking. QFD™ significantly improves customer experience.
QFD™ requires account holder demographics (name, address, email), account details (number and type), transaction details (transaction amount, transaction date, ARN, Merchant Description, Auth-Code, Entry Mode, POS, acquiring network) as well as integration to process block/reissue and process accounting adjustments. This info provides the highest chance of automated processing of disputes for both authorizations and posted transactions. In addition to this data and services QFD™ also integrates into Visa RTSI and Mastercom to process recovery. When all that data is passed and those services are available QFD™ can easily automate up to 70%+ of the work.
Onboarding
If we have already integrated with your core processor, onboarding will be very quick. Depending on the scope of automation and availability of integration services required onboarding can take from 12 weeks up to several months.
Quavo recommends a phased approach to ensure training and successful user adoption before adding additional features and functionality. The initial QFD™ phase consists of establishing the front and back-office processes including integration, business rules, correspondence, and regulatory automation points. Subsequent phases include add-ons based on clients’ core business goals. We onboard our clients using industry and compliance best practices and allow for extensive configurations and custom development of interfaces with supporting platforms to ensure QFD™ embodies your brand and account holder treatment while enhancing your customer experience.
Additional features like self-service through online and mobile banking, our fraud management AI ARIA®, software localization packages, and more can be added throughout the lifetime of our partnership. To learn more please contact your client experience specialist to identify areas of opportunity and additional product features.
While there are dozens of benefits of implementing Quavo’s solutions and services the most notable will be the outstanding reduction to your operating costs and assured compliance. Our clients on average see a 50% reduction in operating costs over their current fraud and disputes process. Our team keeps you up to date with regulatory requirements and the latest card association mandates.
