Priya PatelTL;DR
– Quavo, Inc. has announced new automated ACH capabilities for its dispute management platform, QFD (Quavo Fraud & Disputes).
– The enhancements include additional claim reasons and verbal attestation functionality for compliance.
– Quavo’s first client to use the ACH functionality has completed 12,436 returns and recovered $7.69 million in funds without human intervention.
Quavo, Inc. has released new automated capabilities for its cloud-based dispute management platform, QFD (Quavo Fraud & Disputes). The enhancements include additional claim reasons in the intake questionnaire and innovative verbal attestation functionality for compliance with WSUD regulations. With these new features, account holders can complete ACH disputes without physical or digital signature requirements. According to David Chmielewski, Quavo’s CTO and Co-Founder, the goal is to reduce account holder friction and reimagine ACH requirements for automated back-office operations.
The first client to go live with the enhanced ACH functionality has completed over 12,000 returns, recovering $7.69 million in funds without any human intervention. The new features also streamline back-office operations with automated return capability, enabling straight-through processing on ACH disputes. Additionally, QFD includes a new signer disclosure that allows verbal attestation during claim intake, meeting the WSUD requirement without requiring a signature.
This release follows Quavo’s recent product updates for RTP, Zelle, and Bill Pay dispute investigations. The platform now supports automated dispute resolution for real-time payments, Zelle, and Bill Pay transactions. It includes enhanced intake questionnaires and additional claim reasons to support back-office ACH investigations. Quavo’s automation features aim to facilitate automatic provisional credit, accounting adjustments, and account holder communications throughout the dispute lifecycle.
With these new capabilities, Quavo is positioning itself as a leader in automated dispute management for the fintech industry. The company continues to innovate and improve its platform to reduce friction and enhance the customer experience. The success of its first client in using the enhanced ACH functionality demonstrates the effectiveness and efficiency of Quavo’s solution in recovering funds without the need for human intervention. Quavo plans to build on this success and expand its offerings to support more financial institutions and their customers.
