Any payment instrument processing can result in a disagreement or a complaint being generated from either the sender or the recipient for reasons of operational, technical or compliance in nature. All disagreements or complaints must be handled securely, swiftly and efficiently to ensure accuracy and the success of resolutions.
ProgressSoft Dispute Management System (PS-DMS) is a system that provides the capability for banks to create and exchange dispute cases over financial items processed in the central bank payment channels. Reasons for disputes can vary from wrongful processing of items to technical and integration issues. PS-DMS provides case management processing for multiple payment channels via an automated workflow, task automation and rules management system that provide a controlled environment for processing issues and reaching transaction resolution. Dispute resolution is standardized across all available payment channels offered by ProgressSoft Corporation.
The system enables the central bank to review, conduct oversight and at times interfere in the final decision-making process and verdict. Additionally, the system provides the tools for the central bank users to configure and manage system settings that govern the rules for managing dispute cases between banks.
- Easily integrates with the central bank’s payment systems.
- Easily integrates with the central bank’s RTGS system to settle resolved disputes.
- Monitor the current counts and statuses of the dispute cases using the system reports and dashboards.
- Secure, prompt, and efficient resolution of disputes between financial institutions.
- Automated workflow allowing the central bank to process multiple payment channels disputes.
PS-DMS is a web-based system that is hosted at the central bank and can be accessed by the authorized users. PS-DMS can seamlessly integrate with the central bank’s payment systems to add a reference to payment items that are disputed. In addition, PS-DMS integrates with the central bank’s RTGS system for settlement of approved disputes.
In addition to the day-to-day processes of dispute initiation, approval, rejection, cancelation and re-presentment, the system allows the initiating bank to escalate the disputing to the central bank to reach a final closing judgment on the dispute.
Banks can only access disputes and related reports that they are part of (either as initiating or receiving banks). On the other hand, the central bank can access all exchanged disputes from all banks, in addition to setting the rules for operating the system, and defining charges and penalties for processing dispute cases.
All dispute-processing views are subject to dual-control (maker/checker). The users of the PS-DMS system will only be able to view records that require action from their side.