Quantum Fraud & Disputes (QFD) - quavo.com · broad. QFD’s architecture is built upon this narrow-spectrum construct, thus driving ease of use and consistency. Additionally, QFD

DATA SHEET

KEY BENEFITS

Increase Satisfaction—Leverage a unified workflow that is reusable across call centers, financial centers, online banking environments and mobile channels.

Reduce Expenses—Automated decisions and actions can reduce or even eliminate the need for specialized agent interventions.

Compliance—Strategically placed automated decision points solve the industry compliance problem by allowing issuers to set up time-sensitive rules in relation to any impacting regulation.

Reduce Losses—Move from a chargeback-centric approach to the claims problem and leverage recovery rules to make sure you always have the best chance at stopping losses.

Leverage industry Standards—Quavo provides out-of-the-box support for major card processors and recovery channels.

Diverse Financial Instruments Support—Out-of-the-box domestic and international support for diverse financial instruments lets you streamline workflows and automate fraud and dispute processes across your entire organization.

Partners—Partnerships with Pega and leading merchant collaboration providers allow QFD to automate dispute resolution workflows.

Hyper-Automation Through Universal Actions—QFD allows organizations to automate processes using universal actions so they are synchronized with established workflows and defined policies.

Value-Added Components—Quavo offers premium add-on components to further increase productivity and accelerate claims resolution.

Role-Based Portals—QFD provides flexible graphical interfaces defined by role, allowing you to maintain and implement business rules without the need for IT support.

ROI—QFD allows organizations to reduce operational expenses while minimizing fraud losses and improving productivity, and our ROI Projection Tool helps you project and quantify your ROI.

OverviewQuantum Fraud & Disputes (QFD) is a best-in-breed fraud and disputes application built on Pega technology, and it is the only fully baked fraud and disputes application in the industry that requires minimal-to no-configuration and customization by an issuer. Issuers have long believed that unique products and case types required distinct fraud and dispute workflows or even disparate applications. But Quavo’s experience tells a different story. QFD is built on a premise that the same simple workflow geared toward meaningful automation and consistent, reliable processing is reusable across all products and case types. This advanced concept allows issuers to reduce expenses and losses while increasing customer satisfaction and maintaining industry compliance.

Quantum Fraud & Disputes (QFD)The best-of-breed fraud & disputes app built on Pega Technology

DATA SHEET: QUANTUM FRAUD & DISPUTES (QFD)

Enable ComplianceEnsuring industry compliance is often the focal point of fraud and dispute operations. With QFD, managing to regulatory dates becomes a trivial matter. Strategically placed automated decision points solve the regulatory compliance problem by allowing the issuer to set up time-sensitive rules in relation to any impacting regulation. Using the QFD decision logic and taking on the bi-annual compliance packages will put any issuers mind at ease. QFD also contains an adaptive control that provides an always-visible view into upcoming regulatory dates. In addition, the “get next” command is configurable to ensure cases with the highest priority are researched and prioritized.

Reduce LossesThe QFD case workflow puts the issuer in a position to:

• Increase recovery opportunity and success rates

• Decrease representment and chargeback reversal volume

• Increase avoidance opportunitiesReduce settled fraud and dispute transactions

• Increase merchant refunds

QFD’s custom recovery rules allow issuers to be surgical about when and what types of fraud and dispute recovery to pursue. Based upon market conditions, the rules can be quickly adapted to increase success rates. QFD also offers integration with third-party partners such as Ethoca and Verifi that allow the issuer to collaborate directly with the merchant. This innovative approach to recovering potentially lost funds results in either holding the customer liable or avoiding the chargeback process altogether via merchant collaboration.

Leverage Industry StandardsAll our customers rely on major credit card processors, and preventing fraud and resolving disputes can become a major challenge for organizations that do not automate workflows. Quavo provides out-of-the-box support for major brands and industry standards, including:

Is your fraud and dispute operations business costing your company money due to an inability to effectively recover losses or a lack of meaningful automation? Maybe the processes are inadvertently creating customer dissatisfaction by not taking advantage of creating a positive experience in a moment that truly matters. With significant fraud, disputes and intelligent business process management (BPM) experience, Quavo is uniquely positioned to help.

At Quavo, our mission is to provide Pega applications faster, cheaper and with more quality than any other Pega partner on the planet. We believe in our methodology because we have seen hundreds of Pega implementations from best to worst. We know what works and why. Here’s more information on the value that QFD can deliver to your organization:

Increase SatisfactionThe beauty of QFD lies in its simplicity. Regardless of product, case type or channel, the spectrum of work and outcomes is not broad. QFD’s architecture is built upon this narrow-spectrum construct, thus driving ease of use and consistency. Additionally, QFD is a build-once and reuse everywhere solution, and a single workflow to create cases is reusable across call centers, financial centers, online banking and mobile channels. QFD also accounts for cases started in one channel and completed in another. This consistency across case types provides the same excellent level of service and treatment regardless of issue or channel preference.

Reduce ExpensesQFD reduces expenses by allowing issuers to setup automated decision points and functions throughout the entire case lifecycle. QFD—as much as the issuer desires—takes the work out of the agent’s hands. Furthermore, these automated decisions are hyper-configurable to allow issuers to quickly adapt to an ever-changing landscape. Issuers use the vast amount of data available to make intelligent decisions about the amount of automation or manual processing among any case type. Automated decisions drastically reduce the amount of work—and rework—required by both the customer and the agent to reach a successful resolution.

Leading the Pega Application Revolution

Figure 1: QFD offers powerful, customizable and automated back office processes that reduce losses. In this example, a claim can be easily tracked and monitored throughout its lifecycle.

Diverse Financial Instruments SupportOut-of-the-box domestic and international support for diverse financial instruments lets you streamline workflows and automate fraud and dispute processes. The following are some of the financial instruments currently supported by QFD, and we update this list regularly as new capabilities are developed.

• Automated Clearing House (ACH)

• Automated Teller Machine (ATM)

• Bill Pay

• Checking

• Credit Card

• Debit Card

• Payments

• Savings

• Wire

PartnersQuavo is proud to be an official partner of Pegasystems, a leading technology innovator for sales, marketing services and operations. We’ve built QFD by leveraging Pega infrastructure and the Pega ecosystems, and we also partner with merchant collaboration partners like Verifi and Ethoca so customers can automate fraud detection and dispute resolution workflows.

Hyper-Automation Through Universal ActionsCustomers can enable hyper-automation by enabling universal actions that can be implemented throughout QFD to increase productivity and flexibility. Instead of settling for processes rigidly defined by an application, you can automate processes so they are synchronized with your established workflows and defined policies. Universal actions enabled by QFD and aligned with organizational policies include:

Universal Action Description

Escalate Any case can be escalated at any time in the process to receive an urgent review.

Dispute Cancellation Any dispute can be cancelled and processing stopped at any point in the case life cycle.

Claim Withdrawal An entire claim can be withdrawn and all processing reversed.

Correspondence Generation

Ad-hoc correspondence can be automatically sent to a customer and attached to a case.

Note Creation Agents can easily add notes to any case to ensure continuity and context and help colleagues later in the process swiftly understand the dispute.

Case Details Update Details can be updated at any time to enrich the case history and ensure more accurate processing.

Create Accounting Steps Organizations can add accounting steps to guarantee cases stay in balance and disputes are prioritized according to business policies.

Value-Added ComponentsQuavo offers premium add-on components to further increase productivity and accelerate claims resolution. These value-added components currently include:

Value-Added Component

Description

Validation Ensure case legitimacy by checking for potential service abuse and/or case duplication.

Accounting Framework

Deploy a robust framework for implementing and tracking accounting adjustments.

Content Generation

Turn to easily configurable rules that can automatically send and generate correspondence in any format.

Customer Self Service

Streamline and even avoid dispute resolution by allowing customers to dispute transactions, check transaction status, and take actions and provide feedback on cases in progress.

Analytics Apply analytics to automatically implement or recommend decisions based on historical organizational patterns.

Fraud Suspects

You can capture suspect information and automate Suspicious Activity Report (SAR) reviewing and filing.

DATA SHEET: QUANTUM FRAUD & DISPUTES (QFD)

Quavo is a software development company that was formed from our love of Pega and our passion to contribute to its potential. We implement Pega strategic applications faster, cheaper and with more quality than anyone else on the planet. Quavo is focused primarily on financial services and Pega-based solutions for payment disputes, onboarding and case management. Our Fusion methodology allows customers to benefit from a Quantum Evolution in application development. That’s why we created our company name Quavo from our goal of delivering a Quantum Evolution to each customer.

Role-Based PortalsQFD provides flexible graphical interfaces defined by role, allowing you to maintain and implement business rules without the need for IT support. You can define in business terms the information that will be presented to each role and automate the display of relevant information to improve productivity and accelerate dispute resolution.

Role-Based Portal Description

User Users can create cases, manage their workloads and process back office actions.

Manager Managers control the urgency and priority of work items to users as well as workbasket access.

Administrator Administrators can manage access, security and business rules.

ROIQFD allows organizations to reduce operational expenses while minimizing fraud losses and improving productivity. Claims can be resolved faster and with less manual intervention, and claim processing will be faster and more accurate than traditional methods. To help you understand the ROI you can expect to receive by implementing QFD, visit the quavo.com/roi-calculator and complete the fields in our new ROI Projection Tool to estimate the return you can expect to receive on your investment based on your current requirements.

Figure 2: Role-Based Portals increase productivity. In this example, a customer fills out a simple online questionnaire to file a claim without the need for agent intervention.

Copyright © 2018 Quavo All rights reserved. All trademarks, trade names, service marks and logos referenced herein belong to their respective companies. This document is for your informational purposes only. Quavo assumes no responsibility for the accuracy or completeness of the information. To the extent permitted by applicable law, Quavo provides this document “as is” without warranty of any kind, including, without limitation, any implied warranties of merchantability, fitness for a particular purpose, or non-infringement.

For more information, visit quavo.com or email [email protected].