Overview
Bendigo Bank, a community-focused bank based in the central Victorian city of Bendigo is the only regionally based Australian bank. The bank is publicly-listed on the Australian Stock Exchange and is owned by more than 48,000 primarily small shareholders.
A retailer of banking and wealth management services to households and small to medium businesses, it is growing its networks throughout Australia as it responds to new marketing opportunities and develops business alliances. Bendigo Bank continues its tradition of adding value for customers through quality personal service but also provides customers with a wide range of self-help banking options such as 24-hour telephone and e-banking facilities.
Challenge
MasterCard and Visa International have recently re-engineered dispute regulations to ensure cardholder disputes are resolved in the most favorable manner suitable for all parties involved in the transaction process. These regulations are designed to protect both cardholders and merchants when errors occur with the processing of transactions.
Like all card issuers, Bendigo Bank follows the rules and regulations set forth that include strict guidelines and service level commitments for cardholders. For cardholders, this ensures that all enquiries are dealt with in a timely and effective manner.
The Bank had traditionally relied on a predominantly manual process to manage and process Dispute Enquiries, which involved interfacing with various systems, excessive paper storage and retrieval issues. However, due to the new regulations, the Bank needed a system that would allow new staff to learn the process quickly, interact with existing systems, help people manage the priority of tasks and meet the Card Scheme defined deadlines effectively.
More importantly, the Bank’s card management team needed visibility of the disputes being managed, with the ability to escalate accordingly, should its customers face undue delays in resolution.
Solution
Bendigo Bank contacted one of their trusted suppliers, The Montfort Group (TMG) to seek and provide an automated business process which could provide the following functionality:
- The ability to capture and validate dispute related information and associated transaction data
- Embeds a diverse range of business rules mandated by the card schemes
- Provides an interface to the UNICARD Dispute system
- Captures processing guidelines, time frames and hints for Chargeback Codes
- Provides a range of monthly, quarterly, yearly compliance reports
- Provides a complete audit trail, ad hoc query and range of Management Reports at either a dispute and/or a transaction level
- Manages the creation and validation of postings to the bank’s Financial Systems
Metastorm’s Business Process Management technology met the company’s key requirements and was immediately selected to launch an automated Dispute Resolution Management system.
Results
Using Metastorm BPM™, Bendigo Bank is extremely pleased with the state of the project and has reached its goal of developing timely, efficient and robust Dispute Resolution processes. The Dispute Management system has now been operational for almost a year and the Bank has realized a number of positive results with one of the greatest benefits being an 80% reduction in its Dispute Resolution procedural errors.
Additional benefits include minimal training for new staff, the ability to customize processes with no impact on operational efficiency, faster resolution of customer queries, increased turnaround on cardholder reimbursements, and the ability to create and tailor a selection of statistical, management and fraud reporting.
Having achieved success with its Dispute Resolution process, the Bank has plans to continue growing its use of Metastorm BPM beginning with its ATM Services area which will create an ATM Management System and also include ATM related card disputes.
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