Prevent chargebacks and accelerate resolution with the new Recovery Assist extension for FINBOA Payment Disputes
FINBOA, Inc., a leader in process automation solutions for regulatory compliance in financial institutions, announced the launch of Recovery Assist. Recovery Assist extends FINBOA Payment Disputes with automated pre-chargeback resolution capabilities, allowing dispute teams to manage intake, case management, Recovery Assist processing, and chargebacks within a single workflow through the Visa Verifi™ Cardholder Dispute Resolution Network (CDRN®).
FINBOA, Inc., a provider of intelligent process automation solutions for financial institutions, today announced the availability of Recovery Assist. Recovery Assist extends FINBOA Payment Disputes with automated pre-chargeback resolution capabilities, allowing dispute teams to manage intake, case management, Recovery Assist processing and chargebacks within a single workflow through integration with Visa Verifi™ Cardholder Dispute Resolution Network (CDRN®).
Payment dispute volumes continue to grow while financial institutions face increasing pressure to improve operational efficiency and deliver faster cardholder resolutions. Traditional chargeback processes often require days or weeks of manual coordination between issuers, merchants, and payment networks, increasing both operational costs and customer frustration. Recovery Assist helps financial institutions overcome these hurdles by providing a streamlined, automated solution that connects issuers and merchants to resolve disputes efficiently.
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Rather than immediately entering the traditional chargeback process, Recovery Assist provides participating merchants an opportunity to review qualifying disputes and issue a refund when appropriate. If the merchant resolves the dispute, the cardholder receives a faster outcome while the financial institution avoids unnecessary chargeback processing.
By leveraging the Visa Verifi™ Cardholder Dispute Resolution Network (CDRN®), Recovery Assist helps participating financial institutions identify and resolve qualifying disputes in near real time. This allows merchants to review and resolve disputes before a chargeback is initiated, effectively preventing unnecessary costs and improving the customer experience.
“Financial institutions shouldn’t have to choose between delivering an exceptional cardholder experience and operating efficiently,” said Raj Singal, CEO and Founder of FINBOA. “Recovery Assist helps our clients prevent unnecessary chargebacks, resolve disputes significantly faster, and automate work that has traditionally required multiple systems and manual effort. It’s another step toward our vision of intelligent, end-to-end dispute management.”
Integrated directly into FINBOA Payment Disputes, Recovery Assist provides a streamlined workflow that reduces manual processing, eliminates duplicate data entry, and allows dispute teams to manage the process from a single platform.
Recovery Assist helps financial institutions:
- Prevent qualifying disputes from progressing to chargebacks.
- Resolve participating disputes in an average of 17 hours instead of the traditional 24-day process.
- Improve cardholder satisfaction through faster resolution.
- Reduce manual work by eliminating duplicate entry and disconnected processes.
- Centralize dispute operations in one platform rather than multiple systems.
- Scale dispute operations without proportional staffing increases.
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