A new automated solution from global payments and loss prevention leader Chargeback911 offers banks, other institutions an easily implemented, highly adaptable approach to chargeback management.
(Tampa Bay, FL) June 29, 2020—Chargebacks911, a global leader in the field of chargeback control and mitigation, has introduced Fi911, a new tool suite for banks and other financial institutions. Developed by Chargeback911’s experts, in collaboration with some of the world’s largest financial institutions and payments processors,
Fi911 is designed to enable financial institutions to automate their procedures and deal efficiently with chargebacks. Monica Eaton-Cardone, co-founder and chief operating officer of Chargebacks911, says, “An increasing amount of transaction inquiries are directed to financial institutions, rather than the online merchant. By optimizing each step in the process, Fi911 will help institutions scale without sacrificing quality.”
Leading the technology integration and development is Sandeep Menon, Chief Technology Officer of Fi911. “When it comes to efficiently managing the growth of chargebacks and disputes, says Menon, there are multiple sides to the equation. Our passion to create a better solution in this space has been a catalyst for expansion.” 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 suite of solutions for merchants will remain under the brand Chargebacks911, with Fi911 geared to serve financial institutions, Menon added. The unified platform allows acquirers to remove redundancies and leverage additional features that drive efficiencies¾dramatically streamlining the process¾from merchant onboarding to reconciliation.
The Fi911 suite, notes Eaton-Cardone, provides institutions access to more data, filling the gap between acquirers and their customers – a functional challenge with legacy systems, and growing pain point. With next generation technology, users have the ability to manage and engage their entire ecosystem: back-end processing platforms, agents, partners, merchants, or third-party intelligence feedback. The system supports traditional card payments, alternative payment methods, loyalty programs, and real-time collaboration tools. Through a single integration, plug-and-play connections offer a streamlined approach to hundreds of merchant data sources, providing a more intelligent solution that can scale.
“Tackling one of the industry’s fastest growing pain points has been challenging,” says Eaton-Cardone. “One of our key goals—facilitated by AI and cloud-based architecture —was and is to provide solutions that work well and ensure sustainable growth while safeguarding the customer experience. Ultimately the consumers should benefit—and are just as important as driving costs down and providing speed-to-market integrations. Leveling the e-commerce playing field for all to prosper has always been our purpose.”
Fi911 supports financial institutions with innovative and automated back-office management technologies created specifically for the banking and payments industries. By offering direct communications between FIs and their ecosystems, the company’s scalable payment product suite offers features that range from fast, flexible merchant onboarding to highly transparent and feature rich client portals. Fi911’s proprietary DisputeLab™ helps make resolving chargeback disputes faster and more efficient by optimizing each step in the dispute cycle. The company’s unified platform also provides threat detection, reconciliation, and risk management tools, as well as the ability to generate commissions and ISO pay-outs directly through the system. Established by the dispute experts at Chargebacks911®, Fi911 offers global reach and expertise, as well as customized training and support from recognized industry leaders. For more information, visit www.Fi911.com.
Founded in 2011, Chargebacks911 is the first global company fully dedicated to mitigating chargeback risk and eliminating chargeback fraud. As industry-leading innovators, Chargebacks911 is credited with developing the most effective strategies for helping businesses maximize revenue and reduce loss in a variety of industries and sectors within the payments space. Chargebacks911 provides comprehensive and highly scalable solutions for chargeback compliance, handling services and fraud strategy management. The company helps decrease the negative impact of chargebacks, thereby increasing revenue retention to help ensure sustainable growth for every member of the payment channel. Chargebacks911’s unparalleled category experience and Intelligence Source Detection (ISD™) technology help identify the true source of chargebacks, optimizing revenue recovery opportunities, mediating disputes, safeguarding reputations, and proactively preventing future fraud. For more information, visit www.chargebacks911.com.
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Karla Jo Helms