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KeyBank expects to cut back-office duties for credit card chargebacks in half through automation.

Dealing with credit card disputes can be a time-consuming and expensive process for banks (especially as chargeback fraud is on the rise), but automation software promises to increase operational efficiency and reduce losses.  

$187 billion asset KeyBank has tapped fintech Quavo to unify and add automation to its fraud and dispute process, with the software replacing many of the manual tasks bank employees previously had to complete, from claim intake and investigation through resolution. 

“We anticipate our back-office hand-offs and processes will reduce in half while improving chargeback effectiveness,” a KeyBank spokesperson told Insights Distilled, adding that Quavo’s platform “takes out errors and manual processes, giving us capacity to provide more support to our clients and dispute investigations.”