September 1, 2020 – HOUSTON, TX – In response to the widespread increase in digital payments, coupled with an increase in fraudulent activity, FINBOA has successfully partnered with Community Banks across the country to reduce Reg E claim process losses by an average of 25%.
A financial institution’s bottom line reflects the effectiveness of executing on dispute tracking and resolution. Ineffective or non-compliant management of claims will increase write-offs. By implementing digital process automation, banks can cut wasteful Reg E spend while optimizing operational efficiency.
Webinar presenters include Kimberly Mantuano, eBanking Card and Fraud Manager at Centennial Bank and John Griffin, Customer Success Manager at FINBOA. Bank leaders in compliance, risk, IT, debit card Ops, digital banking, deposits or fraud/loss prevention should plan to attend.
Banks strategically deploying FINBOA Reg E have achieved the following business outcomes:
- Chargebacks reduced by 40%
- Claim processing times reduced by 90%
- Audit preparation time shortened by 80%
To quote Kimberly Mantuano, “Centennial Bank operated at 1/2 staff during Covid-19, but with FINBOA, were able to handle more volume, serve more customers and remain compliant.”