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.
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.