Chargebacks911 launches new brand Fi911 to support financial institutions with automated chargeback management
- APIs , Payments , Banking
- 16.06.2020 08:31 am
Leading chargeback remediation and dispute technology specialist, Chargebacks911, has launched its revolutionary new brand, Fi911, to provide financial institutions with a suite of next generation chargeback and merchant lifecycle management technology.
Developed by Chargebacks911’s experts, in collaboration with some of the world’s largest institutions and payments processors, Fi911 will empower financial institutions with APIs and innovative quick launch components to help deliver speed-to-market capabilities for managing chargebacks and related activities.
Fi911’s tools are built for the challenges that financial institutions face today in the midst of the global growth in card payments and double-digit year-on-year growth in chargeback volumes – such as its proprietary DisputeLab™. This solution will help make resolving chargeback disputes faster and more efficient by optimizing each step in the dispute cycle.
In addition, as part of its AI-driven platform, Fi911 will offer merchant onboarding, post-transaction monitoring, lifecycle management and reconciliation services.
Leading the technology integration and development is Sandeep Menon, Chief Technology Officer of Fi911. Sandeep has over 20 years’ experience in building information systems and financial products for the likes of First Data, Western Union, ICICI bank, PaySys, NCR Europe and several Fortune 1000 companies and banks worldwide.
“The great thing about this platform is the amount of efficiency and efficacy that can be achieved by removing legacy redundancies,” Sandeep explained. “Each component of our new technology suite is designed to complement an acquirer’s business structure, reducing the increasing pressure to grow and innovate while cutting costs. It supports institutions with cost savings, increased insight and diverse value-adds, creating a competitive edge that resolves pain-points and helps them stay ahead of the curve.”
Fi911’s product suite is entirely customizable, enabling institutions to easily cater to their customers’ needs while remaining compliant – components can be reconfigured in real-time to respond to changes in policy, extraordinary circumstances, or adapt to day-to-day business needs.
Changes to logic, rules, routing, decisions, and associated configuration can be made without the need to incorporate additional technology, saving time and money.
Chargebacks911’s Co-Founder, Monica Eaton-Cardone, added: “Working closely with some of the largest institutions and payment processors across the globe, with the goal to better understand key challenges, has empowered us to create a solution that’s not only built for our current climate, but designed for tomorrow.
“Fragmentation and evolving complexities have always inspired our roadmap. Being entirely cloud-based – with the use of artificial intelligence – combined with the deep experience of our SMEs, the once thought ‘impossible’ is within reach. With the understanding that we can’t solve today’s problem with yesteryear’s solution, Fi911 was developed for the scale and scope required to ensure sustainable growth, protect brand integrity, and safeguard the customer experience.
“With advancements of this sort, you can’t always remove the human component, but it is possible to dramatically streamline the process and drive efficiencies for all related activities – a much-needed development for every stakeholder in the value chain.”
Identifying the need for a better exchange of data that integrates the requirements of merchants and institutions, the Fi911 platform provides financial institutions with the ability to manage and engage their entire ecosystem – whether back-end processing platforms, agents, partners, merchants, or third-party intelligence feedback.
Fi911 supports traditional card payments, alternative payment methods, loyalty programs, and real-time collaboration tools, extending plug-and-play connections to hundreds of data sources through one single integration.
By enabling acquirers with more intelligent tools, more data connections, and more flexibility, Fi911 hopes to encourage stronger data-led decision-making and more proactive action to be taken for all chargeback-related activities.
For more information about Fi911, go to: https://fi911.com/.