BBM25: How Credit Unions Can Leverage Automation to Rebuild Trust in Fraud Disputes...

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Shanthi Shanmugam, CEO & Co-Founder at Casap, and Kelsey Coonce, Sr. Member Experience Manager at Credit Union 1, stopped by the Studio Lounge to share highlights and insights from their conference session on "Faster, Fairer, and More Human: How Automation is Rebuilding Trust in Fraud Disputes."

In particular, Kelsey and Shanthi talked about how the integration of automation and human empathy is crucial in the dispute resolution process within credit unions. Building trust with members is essential, and automation improves efficiency.

They also addressed collaborative efforts among credit unions aiming to enhance service delivery -- as well as emphasizing empathy in customer interactions, showcasing the positive impact of technology on operations.

In addition, Shanthi and Kelsey proposed a call to action for credit unions to encourage embracing AI and collaboration to improve member experiences.

Q&A summary
What is the main focus of the discussion regarding automation in disputes?
The discussion emphasizes how automation can rebuild trust and improve the handling of fraud disputes, combining efficiency with human empathy.
Can you explain what KOP stands for and its purpose?
KOP stands for 'You at your case study ASAP' and it aims to automate disputes, providing financial peace of mind by quickly resolving issues for honest members.
How has the dispute resolution process changed with the introduction of automation?
The average time to resolve a dispute has drastically reduced from 90 days to just 12 days, with some cases being resolved on the same day.
What role does empathy play in the automation of dispute resolution?
Empathy is essential as it allows team members to focus on understanding and assisting members rather than getting bogged down by administrative tasks.
What is the significance of provisional credit in the dispute process?
Provisional credit is crucial as it provides immediate financial relief to members while disputes are being resolved, helping them manage their expenses.
What is the call to action that Kelsey and Shanthi want to convey to their audience?
They encourage embracing the coexistence of AI and human interaction in the industry to enhance collaboration and improve member experiences.

Check it out and let us know your thoughts. And be sure to watch all our Studio Lounge episodes from Filene's big.bright.minds on our episode archive page -- as well as visiting our sponsors who support our conference coverage: Filene, Origence, Abacus, Backbone, and "Despite Impossible" podcast.