Cognizant and ServiceNow Launch AI-Powered Dispute Management Solution for Mid-Market Banks
Cognizant (CTSH) has partnered with ServiceNow (NOW) to launch an AI-powered dispute management solution specifically designed for mid-market banks in North America. The Business Process as a Service (BPaaS) offering aims to streamline dispute resolution processes and enhance customer satisfaction.
The solution addresses key challenges faced by mid-market banks, including fragmented systems, operational inefficiencies, customer dissatisfaction, chargeback losses, and regulatory compliance. It features:
- Multi-channel dispute intake (mobile, web, CRM systems)
- Customer sentiment analysis
- Automated workflows and Straight-Through Processing
- Workflow data fabric for Business Intelligence
- Workload prediction analytics
- Automated communication frameworks
TDECU's CIO Ashish Chopra endorsed the solution, highlighting its potential impact on the financial services industry.
Cognizant (CTSH) ha stretto una partnership con ServiceNow (NOW) per lanciare una soluzione di gestione delle controversie alimentata dall'IA, specificamente progettata per le banche di medie dimensioni in Nord America. L'offerta di Business Process as a Service (BPaaS) mira a semplificare i processi di risoluzione delle controversie e migliorare la soddisfazione del cliente.
La soluzione affronta le principali sfide che le banche di medie dimensioni devono affrontare, tra cui sistemi frammentati, inefficienze operative, insoddisfazione dei clienti, perdite da chargeback e conformità alle normative. Include:
- Acquisizione delle controversie su più canali (mobile, web, sistemi CRM)
- Analisi del sentiment dei clienti
- Flussi di lavoro automatizzati e Straight-Through Processing
- Tessuto di dati dei flussi di lavoro per l'intelligence aziendale
- Analisi della previsione del carico di lavoro
- Framework di comunicazione automatizzati
Il CIO di TDECU, Ashish Chopra, ha sostenuto la soluzione, evidenziando il suo potenziale impatto sull'industria dei servizi finanziari.
Cognizant (CTSH) se ha asociado con ServiceNow (NOW) para lanzar una solución de gestión de disputas impulsada por IA, diseñada específicamente para bancos de mediana escala en América del Norte. La oferta de Business Process as a Service (BPaaS) tiene como objetivo agilizar los procesos de resolución de disputas y mejorar la satisfacción del cliente.
La solución aborda los principales desafíos que enfrentan los bancos de mediana escala, incluyendo sistemas fragmentados, ineficiencias operativas, insatisfacción del cliente, pérdidas por chargeback y cumplimiento normativo. Incluye:
- Recepción de disputas multicanal (móvil, web, sistemas CRM)
- Análisis del sentimiento del cliente
- Flujos de trabajo automatizados y procesamiento directo (Straight-Through Processing)
- Fabric de datos de flujo de trabajo para inteligencia empresarial
- Analítica de predicción de carga de trabajo
- Marcos de comunicación automatizados
El CIO de TDECU, Ashish Chopra, respaldó la solución, destacando su potencial impacto en la industria de servicios financieros.
코그니전트 (CTSH)는 서비스나우 (NOW)와 협력하여 북미 중형 은행을 위해 특별히 설계된 AI 기반 분쟁 관리 솔루션을 출시했습니다. 이 비즈니스 프로세스 서비스(BPaaS) 제공은 분쟁 해결 프로세스를 간소화하고 고객 만족도를 향상시키는 것을 목표로 합니다.
이 솔루션은 중형 은행이 직면한 주요 문제를 해결합니다. 여기에는 단편화된 시스템, 운영 비효율성, 고객 불만족, 차지백 손실 및 규제 준수가 포함됩니다. 다음과 같은 기능이 포함됩니다:
- 다채널 분쟁 수집 (모바일, 웹, CRM 시스템)
- 고객 감정 분석
- 자동화된 워크플로우 및 스트레이트 스루 프로세싱
- 비즈니스 인텔리전스를 위한 워크플로우 데이터 패브릭
- 작업량 예측 분석
- 자동화된 커뮤니케이션 프레임워크
TDECU의 CIO인 Ashish Chopra는 이 솔루션을 지지하며 금융 서비스 산업에 미칠 잠재적 영향을 강조했습니다.
Cognizant (CTSH) s'est associé à ServiceNow (NOW) pour lancer une solution de gestion des litiges alimentée par l'IA, spécifiquement conçue pour les banques de taille intermédiaire en Amérique du Nord. L'offre Business Process as a Service (BPaaS) vise à rationaliser les processus de résolution des litiges et à améliorer la satisfaction des clients.
La solution répond aux principaux défis auxquels sont confrontées les banques de taille intermédiaire, notamment des systèmes fragmentés, des inefficacités opérationnelles, une insatisfaction des clients, des pertes de rétrofacturation et la conformité réglementaire. Elle comprend :
- Réception des litiges sur plusieurs canaux (mobile, web, systèmes CRM)
- Analyse du sentiment des clients
- Flux de travail automatisés et traitement direct (Straight-Through Processing)
- Tissu de données de flux de travail pour l'intelligence d'affaires
- Analyse prédictive de la charge de travail
- Cadres de communication automatisés
Le CIO de TDECU, Ashish Chopra, a soutenu la solution, soulignant son impact potentiel sur l'industrie des services financiers.
Cognizant (CTSH) hat sich mit ServiceNow (NOW) zusammengeschlossen, um eine KI-gestützte Lösung für das Beschwerdemanagement zu lancieren, die speziell für mittelständische Banken in Nordamerika entwickelt wurde. Das Angebot Business Process as a Service (BPaaS) zielt darauf ab, die Prozesse zur Lösung von Streitigkeiten zu optimieren und die Kundenzufriedenheit zu steigern.
Die Lösung adressiert zentrale Herausforderungen, mit denen mittelständische Banken konfrontiert sind, darunter fragmentierte Systeme, betriebliche Ineffizienzen, Unzufriedenheit der Kunden, Chargeback-Verluste und die Einhaltung von Vorschriften. Sie bietet:
- Multikanal-Beschwerdeaufnahme (mobil, web, CRM-Systeme)
- Kundenstimmungsanalyse
- Automatisierte Workflows und Straight-Through Processing
- Workflow-Datenstruktur für Business Intelligence
- Analytik zur Vorhersage von Arbeitslasten
- Automatisierte Kommunikationsrahmen
Der CIO von TDECU, Ashish Chopra, unterstützte die Lösung und hob deren potenziellen Einfluss auf die Finanzdienstleistungsbranche hervor.
- Strategic partnership with ServiceNow expands Cognizant's financial services offerings
- Solution addresses specific market need in mid-market banking sector
- Potential for reduced operational costs through automation and AI integration
- Early positive feedback from existing client (TDECU)
- to mid-market banks in North America only
- Success metrics and ROI data not yet available
Insights
Cognizant's new AI-powered dispute management BPaaS solution represents a strategic product expansion targeting the underserved mid-market banking segment. This partnership with ServiceNow addresses specific pain points in dispute management where mid-market financial institutions struggle with operational inefficiencies and customer dissatisfaction.
The solution integrates several advanced technologies: generative AI, automated workflows, multi-channel intake systems, and sentiment analysis - creating a comprehensive offering that should reduce manual intervention and potentially lower operational costs for clients. By focusing on Straight-Through Processing (STP), the solution aims to streamline operations while maintaining regulatory compliance.
What's particularly noteworthy is how this offering aligns with Cognizant's services-plus-technology strategy. Rather than merely implementing ServiceNow's platform, Cognizant is combining it with their domain expertise in dispute management, creating a more complete solution. This approach typically generates higher margins than pure implementation services.
The endorsement from Texas Dow Employees Credit Union (TDECU) provides validation from an existing customer, suggesting the partnership has already demonstrated value in real-world financial services environments. While the announcement lacks specific financial projections, this solution expands Cognizant's footprint in the financial services vertical and strengthens their partnership with ServiceNow, potentially opening additional cross-selling opportunities in this sector.
The BPaaS solution is designed to streamline the dispute resolution process and enhance customer satisfaction
Mid-market banks struggle with managing customer disputes due to fragmented systems, operational inefficiencies, customer dissatisfaction, chargeback losses, and regulatory compliance. By combining ServiceNow's advanced dispute management technology with Cognizant's expertise in end-to-end dispute management, the new BPaaS solution aims to improve mid-market banks' ability to manage disputes effectively, reduce chargeback losses, and maintain customer trust. The solution leverages generative AI, highly automated workflows, and multi-channel intake to streamline dispute resolution with minimal manual intervention.
Some key features of the dispute management solution include:
- Multiple channels to intake customer disputes (mobile, web, and CRM systems)
- Customer sentiment analysis using voice and text
- Automation and Straight-Through Processing (STP) for operational efficiency
- Workflow data fabric for Business Intelligence (BI) and analytical reporting
- Workload and recovery prediction analytics
- Automated communication frameworks for letter and email generation
"We are pleased to strengthen our partnership with ServiceNow and empower mid-market banks with AI-powered technology and operations," said Nageswar Cherukupalli, Senior Vice President and Business Unit Head of Banking, Capital Markets, Insurance and Strategic Initiatives, of Cognizant. "With our expertise in end-to-end dispute management, we look forward to helping banks operate more efficiently and increase customer satisfaction. We are proud to be at the forefront of innovative, technology-driven solutions that have the potential to transform dispute management in the banking industry."
"For nearly a year, Cognizant has been instrumental in helping TDECU provide secure, scalable, redundant, and infrastructure support for our Members and employees. As we look to the future, the collaboration between Cognizant and ServiceNow holds the potential to make a significant impact on the financial services industry," said Ashish Chopra, Chief Information Officer of TDECU (Texas Dow Employees Credit Union). "Customers would benefit greatly from a streamlined and simplified dispute resolution process powered by AI. We look forward to seeing the positive changes this solution will bring to the industry."
"Cognizant's domain expertise in financial services and deep ServiceNow technical experience are essential to expanding the ServiceNow Disputes Management product offering to new market segments," said Binoy Gosalia, VP, Global Partner Acceleration, of ServiceNow. "We are thrilled to partner with Cognizant to bring flexible and highly compliant AI-driven CX capabilities to banking customers who have long been constrained by outdated and architecturally rigid solutions."
About Cognizant
Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant.
ServiceNow, the ServiceNow logo, Now, Now Platform, and other ServiceNow marks are trademarks and/or registered trademarks of ServiceNow, Inc. in
For more information, contact:
Katrina Cheung
Katrina.Cheung@Cognizant.com
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SOURCE Cognizant Technology Solutions Corporation
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