How Well Do You Capture Dispute Resolution Opportunities?
According to McKinsey research, the dispute resolution process provides banks and credit unions with opportunities to solidify bonds with their customers, while driving down operating expense. Following industry best practices for dispute resolutions can:
- Strengthen Trust. A quick resolution can turn a negative incident into a loyalty-building experience for customers.
- Cut Operating Costs. In the US, the cost per dispute can range from $10 to $50. Implementing a more efficient process can reduce these operating expenses by 25 to 40 percent.
- Improve Quality. Pressure to resolve disputes quickly affects transaction quality, and incorrect dispute outcomes (both in favor of and against customers) can be as high as 10%.
Measure Your Performance Against Industry Best Practices
Our Dispute Management Self-Diagnostic consists of 10 simple questions that are based on industry best practices. By answering either “Yes” or “No,” your bank or credit union can identify inherent risks and opportunities in its dispute management capabilities.
There is no cost or obligation involved. Simply request our self-diagnostic tool; and then compare your internal dispute resolution performance against industry best practices. If you’d like to explore how Quinte can help to improve your performance, we’d be happy to talk to you.
Download our complimentary Dispute Management Self Diagnostic