ServiceNow announced a five-year strategic alliance with Visa. The initial phase includes the launch of ServiceNow Disputes Management, Built with Visa?a single, connected disputes resolution solution for issuers. Managing disputes currently involves multiple systems and teams, and many financial institutions often use siloed solutions that are not fully integrated with one another.

This disconnected approach creates complexity, delays crediting and resolving disputes, can create potential losses, and ultimately, impacts the customer experience. ServiceNow Disputes Management, Built with Visa is a streamlined solution that blends the best of ServiceNow?s AI-first platform and the company?s Financial Services Operations solution with Visa?s deep technology investments. Each year, Visa helps prevent $30 billion in fraud for consumers and small businesses using cutting edge technology, including tokenization and AI, deployed throughout the entire payments ecosystem, including disputes management.

ServiceNow Disputes Management, Built with Visa will unite the entire dispute management process ? from the first indication that a charge is questionable to early resolution, investigation, and final resolution. It includes a single experience for solving disputes so that employees can have high quality engagements with cardholders, as well as dashboards, automation, alerts, and the ability to audit all transactions.

Two standout features enhance its efficiency: a modern, user-friendly low code platform that allows financial institutions to make swift updates to their disputes management process, and generative AI-powered experiences that improve customer intake and agent investigation. The solution also incorporates ongoing changes to disputes rules and applies industry best practices for processes, workflows, and staying ahead of fraud. ServiceNow is committed to revolutionizing financial services with new products and services.

This initial integration marks the beginning of a more extensive, multi-phased relationship between Visa and ServiceNow. The companies will continue to build new solutions and will distribute Visa products and services to joint customers. Together, ServiceNow and Visa will help clients improve dispute management.