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PostFinance is a diversified, innovation-driven financial service provider that offers its 2.5 million customers modern solutions for managing their finances. As a driver of innovation, PostFinance helps people and companies in Switzerland tackle the challenges of the digital world. With around 104 billion francs in customer assets and more than 1.3 billion payment transactions a year, PostFinance is one of Switzerland’s leading financial institutions.
We spoke with Daniele Angioletti and Ivana Paunovic, Chargeback analysts at Postfinance, about the current state of fraud and disputes and how Rivero helps improve customer experience.
Boost efficiency with greater customer-centricity
When the PostFinance Card combined with Debit Mastercard® was introduced, more and more customers started using their cards actively. Naturally, chargeback cases began to arise, and PostFinance had to go through quite a tedious process, capturing each transaction individually while their backlog started to pile up.
To deliver on its customer experience goals, PostFinance looked for a more efficient way to process chargebacks. It identified Rivero’s Amiko solution as the vital tool to streamline their dispute processes and effortlessly reduce fraud losses.
‘‘It was crucial for us that the new tool would allow us to process several transactions simultaneously while also providing a clear layout to work with,’’ Ivana recalled when asked about their selection process. “And Amiko exceeds our expectations.”
This is clear when Daniele lays bare his time-saving calculations. ‘‘With Amiko, I can now process disputes at five times the previous rate, achieving nearly a 500% increase in efficiency. I can now process 20-30 disputes a day—depending on the size—whereas this was only 5 or 6’’ before.
Scaling dispute process management through fast onboarding
Due to PostFinance’s previous legacy tool requiring a labour and time-intensive process, they were a bit anxious about implementing a new tool. ‘‘During our meetings, many uncertainties were clarified,’’ Daniele explained. ‘‘We appreciated the good collaboration with the Amiko experts, which made using Amiko efficient from the beginning,’’ he added.
‘‘Amiko is very user-friendly, and I had little trouble using the tool. Compared to the previous tool we used, the introduction to Amiko was much easier,’’ Ivana added. ‘‘The layout, the personalised functionalities… It all just clicked for me.’’ And it shows through the numbers. Before, it used to take about 30 minutes to record 15 transactions correctly, but with Amiko, it now only takes me 5!’’. Amiko’s ability to put all transactions related to a specific cardholder claim or fraud incident into one case is a game-changer for PostFinance.
Through constant check-ins and guidance in our partnership, we achieved the fastest time to value for PostFinance.
What’s next?
After implementing Amiko, PostFinance is convinced That It was the missing link in their dispute management process, thanks to its responsive support and modern suite of features, including bulk uploads and automated pre-dispute and fraud reporting.
Part of owning the customer relationship is giving cardholders the answers they need about their dispute claims. PostFinance is exploring the option of using the Virtual Agent as part of the Amiko solution to stay as dynamic and responsive as fraud and disputes themselves. The domain-specific chatbot uses card network rules while providing customer-requested transaction details on demand to help prevent first-party fraud claims.
Experience working with Rivero
‘‘We greatly valued our collaboration with Rivero and were always amazed to receive very professional and detailed answers,’’ Daniele mentioned.
‘‘To sum up, we would recommend Amiko because of its clear layout and the efficiency gain,’’ Ivana concluded.