The biggest misconception about artificial intelligence is that it is too advanced, expensive and difficult for teams to successfully integrate and manage. People tend to think of AI in terms of large machines or robots like the C-3PO, but AI technology mostly exists behind the scenes on cloud or software platforms, which can make it fairly easy to deploy. Over the past decade, advances in cloud computing and data availability have made AI technology available to more organizations than ever before.
Quavo was the first Fintech to discover AI capabilities for fraud and dispute resolution processes. Quavo experts not only discovered these capabilities, but also turned them into the first product that allows complex automated decisions in disputes for issuing banks and processors. A Quavo team of regulatory, financial and IT experts developed ARIATM, our artificial intelligence fraud management to investigate how people to make virtually instant decisions. The great thing about ARIATM is that it combines all the information into one good for verification and digestible place to comply with rules E and rules Z. Before ARIATM, most issuers set automatic payment thresholds and have not researched anything below the thresholds. With ARIATMissuers can investigate all cases, regardless of the amount in dollars, to ensure that no case remains intact.
Quavo’s AI fraud management…
- Integration with any existing dispute management software
ARIATM integrates with any fraud detection software, fraud alerts, refund management or merchant collaboration software. It works with the cloud and is technology-independent, allowing issuers to use it without having to change their current dispute management platforms.
- Does not require IT resources or ongoing maintenance
ARIATM requires virtually no integration and is supported by our team of financial and technical experts at no extra cost. Our team of experts consistently analyzes the ARIA model, developing algorithms using factors such as geovariation, reduced speed, test vendors, and IP addresses to make better, more consistent decisions.
- Serves multiple teams
The best approach to successfully implementing AI technology is to implement a balanced solution that benefits more than one team. We built ARIATM to help multiple departments, whether they focus on risk, compliance, fraud, customer service or accounting.
- Customized according to your business rules
We have developed artificial fraud management intelligence that can be customized not only to your team’s requirements but also to your company’s standards. ARIATM provides consistent decision making to provide better customer service for the owners of your accounts. ARIATM has an appetite for fraud, a risk assessment chart to ensure it supports your company’s policies when it comes to investigating and resolving fraud and disputes.
- Has no minimum requirements
There are no expensive or protracted implementation fees for adding ARIATM to your dispute resolution process. With ARIA there are no minimum transaction costs, user restrictions or transactions, and it can perform as many tasks as you need by making decisions in seconds.
ARIATM you can use as much or as little as your team needs. Financial institutions wishing to offer a self-service portal for fraud and litigation may use artificial fraud management intelligence to manage the inflow of claims from the self-service portal or supplement the back office investigation team, while other areas of business require more time and resources.
Visit us online to learn more about Disputes as a Quavo serviceTM offer
https://bankautomationnews.com/allposts/business-banking/5-ways-this-fraud-management-ai-is-revolutionizing-fraud-disputes/ 5 Ways This Artificial Fraud Management Intelligence Revolutionizes Fraud and Dispute