EAST LANSING, Mich. and CLEVELAND, July 28, 2022 /PRNewswire/ — Today’s fintech provider Quavo Fraud and Disputes announced its partnership with KeyBank as part of its latest initiative to improve account holders’ experience with credit card chargebacks. KeyBank deploys Quavo QFD™ Automated Dispute Management Platform to streamline the entire fraud and litigation process, from claim intake and investigation to claim resolution and collection.
Quavo’s QFD Dispute Resolution Platform is the only cloud-based software capable of automating the manual tasks required by bank employees once a credit transaction is disputed or fraud is identified. QFD integrates with KeyBank’s credit card platform TSYS® and merchant collaboration software, Ethoca™to automatically collect and evaluate transaction data with information provided by the cardholder, significantly reducing back-office processing time, human capital and operational resources.
“QFD has a robust, easy-to-use workflow with automation that streamlines unnecessary complexity. The app seamlessly supports the digital activation we want to continue to deliver to customers,” the manager said. KeyBank Corporate Fraud Services, John Martin. “We are in the midst of a multi-year, multi-product implementation that will fundamentally transform the dispute management experience for our customers and teammates while improving our back-office processing and chargeback recoveries. “
The commissioning of KeyBank’s QFD follows Quavo’s completion of its Series A funding round with FINTOP Capitalmarking a significant milestone in the company’s growth on its journey to increase the efficiency of fraud and litigation management for issuing banks and fintech organizations.
“During our initial discussions regarding partnership goals and project goals, it was clear that KeyBank had bigger initiatives beyond simply reinvigorating its chargeback and dispute management process. They were looking for a partner who would create opportunities for automation, digital channel expansion and improved customer engagement,” said Quavo SVP, Revenue Executive Bailiff of Brittany“The partnership between KeyBank and Quavo demonstrates a shift in the industry where innovative leaders combine with strategic experts and cutting-edge products to accelerate projects, achieve goals and increase user adoption.”
The QFD platform was developed and is continually supported by experts with decades of experience managing and streamlining the enterprise level fraud and litigation process. This expertise is crucial to Quavo’s relationship with KeyBank. “Quavo has been a strong partner from the first kickoff meeting, through launch and through support,” KeyBank said. John Martin“We selected them because of their deep litigation expertise and the modern design of the solution (cloud-based, decision tree and process automation).”
Martin’s sentiment was echoed by Quavo COO and co-founder David Chmielewski“Working with an innovative bank that puts compliance and its account holders first has been a real pleasure. We are delighted to welcome KeyBank to the Quavo cloud.”
About Quavo, Inc.
Quavo, Inc. is a fintech provider of industry-leading automated dispute management solutions for issuing financial institutions. Quavo’s Disputes as a Service™ offering includes automated software, artificial intelligence technology and human intelligence services for financial organizations of all sizes. Our goal is to set and advance the industry standard in fraud and dispute management by instituting best principles, providing unparalleled technology, and advocating for change in our community.
We offer comprehensive end-to-end fraud and dispute management automation software, supported with comprehensive Reg E, Reg Z, Nacha and network compliance mandates. Quavo’s offering includes QFDMC automated dispute management software, ARIA™ fraud management AI, and Dispute Resolution Experts™ human intelligence services. Quavo believes in providing a supportive and collaborative environment where the best minds in finance and technology work together to drive client success, delivering breakthrough dispute management software and solutions. Learn more online at https://www.quavo.com/.
KeyCorp’s roots go back nearly 200 years Albany, New York. Based at Cleveland, OhioKey is one of the nation’s largest banking financial services companies, with assets of approximately $187.0 billion at June 30, 2022. Key provides deposit, lending, cash management and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,300 ATMs. Key also offers a wide range of sophisticated corporate and investment banking products, such as M&A advisory, public and private debt and equity, syndications and derivatives to middle market companies in selected sectors around the world. United States under the trading name KeyBanc Capital Markets. For more information, visit https://www.key.com/. KeyBank is an FDIC member.
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