Industry News

TMCNet:  Chargebacks911 Achieves 98% Automation Milestone for its AI Powered Robotics

[September 20, 2022]

Chargebacks911 Achieves 98% Automation Milestone for its AI Powered Robotics

Chargebacks911, the leading dispute technology specialist that powers chargeback remediation for the largest global eCommerce businesses as well as the world's financial institutions, today celebrates achieving the milestone of full automation using its artificial intelligence (AI) powered robotic emulation tool. The software dynamically adapts through learned behaviors and algorithms, dramatically improving response times and optimising data driven decisions related to chargebacks representments, pre-arbitrations and responses.

Through Chargebacks911's proprietary data connection hub, these plug and play integrations afford the same streamlined connectivity as more traditional API requirements but for a fraction of the upfront effort. Based on their most recent assessment, learned behavior over nearly a decade since first developing the proprietary connection tool, boasts technological breakthroughs resulting in 98% turn-key automation - a first in the industry and an increase by nearly 20% over the last 12 months alone.

The issue of chargebacks is rapidly increasing at an exponential rate and merchants simply cannot afford to ignore the issue. Even if the chargeback volume remains static for the next year, current data suggests that global costs to simply manage this influx will reach $117.47 billion by 2023. Due to the dynamic nature of payments and the ever-evolving datasets - traditional IT Resources are in short supply. As a prescription to support merchants tackle the growing complexities and challenges in dispute management, pioneering technology must continue to innovate. Chargebacks911 continues to raise the bar for this effort, now making it possible for virtually any stakeholder to transition with ease, from old to new.

Eric Deraspe, Chief Product Officer at Chargebacks911, says: "Our mission has always been to develop the best technological innovations to fix the chargeback process, helping merchants mitigate losses, recover chargeback costs and save time. One key to this is utilizing the power of AI robotics, which dramatically increases automation without the dreaded burden of more complex integrations. Ths in turn boosts the speed of resolution for everyone involved, improving the customer experience on all sides. We're proud to have achieved an industry first goal for our clients and it's one that we're still pushing the envelope on."


Monica Eaton-Cardone, Founder of Chargebacks911, says: "Our unified platform has become a trending concept in the market, which has served us well for inspiring continuous innovation. While some service providers offer limited options, or rely heavily on manual resources; our motto is to 'Challenge the Status Quo.' It's never about finding a better version of the old way of doing things, or conforming to an acceptable standard out of ease. For us, innovation is about creating something new, that's truly better, faster, more intelligent, multi-dimensional, and ultimately scalable."

Automation is changing the world and automation of chargeback management is at the heart of Chargebacks911's DNA. By continuing to enhance its technology suite, it has achieved the 98% milestone now - accomplishing its goal that was originally targeted for the end of 2022 and continuing to lead the industry in the process.

To learn more about Chargebacks911, visit: https://chargebacks911.com/

ENDS

About Chargebacks911

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 manage disputes and reduce loss in various industries and sectors within the payments space.

Chargebacks911 provides comprehensive SaaS solutions that are highly scalable for managing chargebacks, handling services and fraud strategy management. The company helps decrease the negative impact of chargebacks and provides real-time API connectivity and insights, thereby improving revenue retention using data-driven technology to help ensure sustainable growth for every member of the payment channel.

Chargebacks911's unparalleled category experience and patented Intelligence Source Detection (ISD™) technology identifies the true source of chargebacks, automatically remediates fraudulently filed disputes, safeguards reputations, monitors feedback 24/7 and provides insight to proactively prevent future fraud. www.chargebacks911.com

About Fi911

Fi911 supports financial institutions with innovative back-office automation technologies created specifically for banking and financial institutions. By supporting 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 resolve chargeback disputes faster and more efficiently by utilizing next-generation technology that leverages a robust rule engine and highly scalable microservices specifically designed to optimize each step in the dispute cycle. The company's unified platform also provides threat detection, reconciliation, risk management tools, and 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, and customized training and support from recognized industry leaders. https://fi911.com/


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