FINBOA
FINBOA equips banks of the future with intelligent process automation software to simplify payment dispute processing and improve regulatory compliance by eliminating manual systems.
FINBOA has transformed payment dispute processing for hundreds of financial institutions by automating and digitizing the manual processes commonly used in back-office operations. The traditional, highly manual dispute processing approaches increase the risk of data entry and transaction errors, communication problems, long delays, missed compliance timelines and more.
About FINBOA
Financial institutions have faced increased non-compliance risk with Reg E and other dispute-related regulations due to the limitations of manual dispute processing. In the worst scenarios, financial institutions can face reputational risk and/or be fined for non-compliance resulting from these manual, disparate dispute tracking methods.
FINBOA Payment Disputes is unique in workflow automation because the system is built with a focus on banking regulations and compliance requirements. Other providers are adapting workflow automation created for other purposes and attempting to make it work in a banking back-office.
Over 200 financial institutions have adopted FINBOA’s Payment Disputes solution to digitize and automate the payment dispute process. FINBOA Payment Disputes solution is unique in workflow automation because the system is built with a focus on banking regulations and compliance requirements. Other providers are adapting workflow automation created for other purposes and attempting to make it work in a banking back-office.
Best Tech of the Future
“We are honored that FINBOA Payment Disputes is named as the Best Tech of the Future by PayTech Awards, as it recognizes the transformational impact that automation and digitization can have in reducing compliance risk and increasing operational efficiency for financial institutions. We are proud to receive recognition as a fintech innovator, as we design automation solutions with banking first in mind,” said Raj Singal, founder and CEO of FINBOA.
FINBOA Payment Disputes is a compliance-based, cloud-hosted SaaS solution accessible on mobile or desktop devices. It is designed for scalability to address increases and surges in payment dispute workflows; while keeping processes within compliance-mandated timelines and requirements.
The solution provides pre-built workflows for Reg E transaction types including Debit Card, ACH, ATM, ZelleTM and Bill Pay using EFT. FINBOA Payment Disputes process automation can also address Credit Card, Check Fraud, Wire Fraud, Mobile Deposits and Stop Payments transactions.
There are 4 primary ways in which FINBOA Payment Disputes transforms the payment dispute process:
Digitizes Dispute Intake
Using FINBOA, financial institutions can digitize the intake process anywhere banks or credit unions exchange information with account holders.
Automates Compliance Processes
By applying intelligent automation to inefficient, highly repetitive manual tasks/processes, FINBOA customers keep up with compliance requirements, minimizing risk.
Facilities Loss Reduction
FINBOA Payment Disputes enables financial institutions to reduce claim-related write-offs/losses.
Streamlines Reporting and Data Access
Centralized data and document management enables timely decision-making with enterprise-wide access to information and reporting.
Contact FINBOA
FINBOA is headquartered in Houston. Learn more at www.finboa.com or follow us on LinkedIn, Facebook and Twitter.