Nationwide Building Society Improves Member Experiences with Pega Smart Dispute

Rhea-AI Summary

Pegasystems Inc. announced that Nationwide Building Society has deployed Pega Smart Dispute for Issuers, enhancing its Visa card disputes process. This deployment reduced the number of systems from 15 to 2, improving agent performance and customer satisfaction by cutting dispute processing time by approximately 15%. The implementation was driven by a significant increase in Visa disputes, which surged 251% due to the COVID-19 pandemic. Nationwide aims to further improve member experience and operational efficiency using Pega's technology.

Positive

• Reduced dispute processing time by approximately 15%.
• Streamlined dispute handling from 15 systems to 2.
• Enabled online initiation and tracking of disputes for members.
• Improved agent performance with guided recommendations.
• Faster roll-out of compliance updates, reducing business risk.

Negative

• None.

New deployment helps streamline processes, reduce manual tasks for employees, and digitise member experience

READING, United Kingdom, April 20, 2022 /PRNewswire/ -- Pegasystems Inc. (NASDAQ: PEGA), the software company that crushes business complexity, today announced Nationwide Building Society deployed Pega Smart Dispute for Issuers to transform its Visa card disputes process. This enabled Nationwide to improve agent performance and customer satisfaction by streamlining the systems required to handle a dispute from 15 down to two and reducing dispute processing time by approximately 15%.

Nationwide Building Society is a mutual financial institution, the seventh largest cooperative financial institution and the largest building society in the world, that is run for the benefit of its 16 million+ members. The COVID-19 pandemic caused an unprecedented 251% surge in Visa card disputes, putting extreme pressure on branch staff and contact centers, resulting in challenges managing servicing queues. In response, Nationwide selected Pega Smart Dispute to modernise and consolidate its systems to improve the member experience and reduce operating costs. The new deployment also allows members to now initiate and track disputes online, making them more efficient and accessible. 

Nationwide has realised several other improvements to the member and employee experience with Pega, including:

• Faster servicing times: Reduction of wait times for members with the introduction of a self-service function.
• Streamlined systems: By condensing the number of systems, one call handler can now deal with the member facing dispute process without handing off.
• Faster dispute processing: The straight-through processing capabilities of Pega allowed Nationwide to combat surges in demand, resulting in faster resolution of claims for members.
• Optimised interactions: With Pega's guided recommendations, the message from all call handlers is consistent, dramatically improving the member experience.
• Faster roll-out of compliance releases: With Pega's regular Visa compliance releases, the development team can quickly implement necessary changes, with all analysis conducted by Pega. This creates a repeatable cycle that reduces business risk.

For the implementation, Nationwide turned to its long-standing strategic partner, Tata Consultancy Services (TCS). Leveraging its deep contextual knowledge of Nationwide's payments business, and its technology expertise, TCS, a Global Elite Pega Partner, helped customise and deploy the Smart Dispute solution.

Nationwide plans to continue using Pega, and collaborating with TCS to improve member experience and roll out the payment disputes capability to other business units in the coming months.

Quotes & Commentary:

'We have now successfully completed thousands of consumer Visa dispute claims and have finally been able to retire our legacy forms system," said Martin Watkin, product owner, payment CIO, Nationwide Building Society. "With this digital transformation, our member facing colleagues are able to consistently deliver an excellent experience in a simple and straight forward manner that is also hassle free for colleagues in operational areas."

"In today's environment, it is crucial to streamline resolution of critical customer issues such as payment disputes and reduce the effort of servicing and operations staff," said Steve Morgan, banking industry market lead, Pegasystems. "Nationwide Building Society has demonstrated success with Pega by intelligently automating processes, retiring legacy systems, and saving both members and staff time. Nationwide will reap the rewards of their technology modernisation efforts, with the ability to more rapidly respond to future regulatory changes and evolving payment trends."

Supporting Resources:

• Product background: Pega Smart Dispute™

About Pegasystems
Pega delivers innovative software that crushes business complexity so our clients can make better decisions and get work done. We help the world's leading brands solve their biggest business challenges: maximizing customer lifetime value, streamlining customer service, and boosting operational efficiency. Pega technology is powered by real-time AI and intelligent automation, while our scalable architecture and low-code platform help enterprises adapt to rapid change and transform for tomorrow. For more information, please visit www.pega.com. 

Press Contact:
Jon Brigden
Pegasystems Ltd.
Jon.brigden@pega.com
+44 (0) 118 9398 584
Twitter: @pega 

All trademarks are the property of their respective owners.

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SOURCE Pegasystems Inc.

FAQ

What is the significance of Pega Smart Dispute for Issuers for Nationwide?

Pega Smart Dispute for Issuers streamlines the Visa card dispute process, improving efficiency and customer satisfaction.

How much did dispute processing time decrease with the new Pega system?

Dispute processing time decreased by approximately 15%.

What challenges did Nationwide face before deploying Pega Smart Dispute?

Nationwide experienced a 251% surge in Visa card disputes due to the COVID-19 pandemic, impacting branch staff and contact center operations.

What changes were made to the dispute handling system at Nationwide?

The number of systems for handling disputes was reduced from 15 to 2, allowing for more efficient processing.

What future plans does Nationwide have regarding Pega's technology?

Nationwide plans to continue improving member experience and expand the payment disputes capability to other business units.