In support of selective users within a growing customer base, FINBOA formally engaged with Jack Henry & Associates to develop a single sign-on to NetTeller and the Banno Digital Platform. The integration allows bank customers using either digital channel to complete a fraud EFT dispute in FINBOA’s Reg E Dispute Tracking software. Users connect to FINBOA using a single-sign-on process, select the transactions to dispute and complete the required questionnaires and affidavits. The integration allows users to self-serve and efficiently complete a dispute that would otherwise have required a call to the bank or an in-person branch visit.
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“We continue to innovate and integrate based on our customer’s needs. FINBOA’s solutions help banks improve operational efficiency, stay compliant with regulations using process automation and provide an excellent customer experience. The NetTeller and Banno integration greatly improves on a bank customer’s experience through the single-sign-on process,” said Raj Singal, VP and Compliance Product Manager at FINBOA. “The integration is a great addition to our suite of existing integrations with Jack Henry, FIS, FISERV and FINASTRA cores.”
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In response to the explosive growth in electronic transactions and steady rise in fraud, financial institutions need to execute faster to keep pace and stay relevant with customers. With a patch work of systems that need to be updated manually to stay compliant, banks struggle to keep up with daily tasks. As the number of claims increase, so does the cost and risk. Reg E compliance management becomes business critical for financial institutions and their customers. Compliance workflow automation is the optimal approach for saving money and protecting reputation risk. FINBOA Reg E customers have reduced chargebacks by 40% and claim process losses by 25%.
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