Chargeback Abandonment: How GenAI Can Optimize Customer Transactions

Transform your approach to customer transactions in just a 6-week PoC

Paweł Scheffler

Head of Marketing

Marcin Dobosz

Director of Technology

INTRODUCTION

In the highly competitive and regulated banking markets, chargeback cases are a growing concern.

These cases not only strain the resources of the bank but also lead to customer dissatisfaction. The challenge is twofold: ensuring compliance with stringent regulations and maintaining a high level of customer service. This is where Neontri’s GenAI comes into play, offering a robust solution to minimize erroneous Chargeback reports.

THE CHALLENGE

Chargeback cases are more than just a financial burden; they are a reputational risk.

In markets with high customer expectations and regulatory scrutiny, erroneous Chargeback reports can lead to a loss of customer trust and potential regulatory penalties. Slow decision-making processes and integration issues with legacy systems further exacerbate the problem.

Neontri’s GenAI solutions offer a groundbreaking approach to tackle this issue. Through data enrichment, GenAI adds layers of information to each card transaction. This includes store names, product categories, prices, and dates, providing a comprehensive view of each transaction.

A 6-Week PoC

The Proof of Concept can be executed in just six weeks and involved three key steps:

Data Enrichment: GenAI enriched customer transaction data with additional details.
Data Presentation: The enriched data was presented to customers via web portals and mobile apps.
Chargeback Abandonment: Access to enriched data led customers to abandon erroneous Chargeback operations.

RESULTS

The implementation of GenAI will lead to a significant reduction in Chargeback cases. Customers, now equipped with detailed transaction data, will less likely to file erroneous Chargebacks. This will not only improve customer satisfaction but also streamline internal workflows.

GenAI will be an invaluable asset in tackling the challenge of Chargeback cases. If you’re facing similar challenges and are looking for a reliable, efficient solution, it’s time to consider GenAI. Book a demo today to explore how GenAI can revolutionize your approach to customer transactions!