Q2's interface for Visa DPS using industry-leading CentrixDTS™ decreases costs associated with transaction dispute resolution between card processor and financial institutions
AUSTIN, Texas (July 20, 2017) — Q2 Holdings, Inc. (NYSE:QTWO), a leading provider of secure, cloud-based digital banking solutions for community-focused financial institutions (FIs), announced today the launch of its interface for Visa DPS Disputes using the Centrix Dispute Tracking System (CentrixDTS™).
CentrixDTS™ simplifies the dispute resolution process and delivers unmatched efficiency and ease of use for FIs for both fraud and non-fraud transaction disputes. The industry-leading case management and Regulation E compliance platform automates what were previously manual processes and workflows through online forms, paperless workflows, automated letters and integration into FI core processing systems. By enabling FIs to initiate a dispute inside the new interface for Visa DPS Disputes, dispute details and related forms are electronically passed to Visa DPS —the world's largest processor of Visa debit transactions —thus increasing efficiency throughout the entire resolution process. Manual data entry into Visa DPS is no longer needed.
"Far too many institutions spend too much time manually processing disputes, often performing duplicate data entry to track them, both at the FI and with their card processors," said Tim Schnell, general manager and senior vice president of Centrix Solutions. "When combined with the automated tracking capability of CentrixDTS™, the interface significantly reduces the effort required when opening cases with Visa DPS."
For Gesa Credit Union, the Visa DPS interface is necessary to maintain operational efficiency. "With the constant increase in the number of transactions being reported as fraud, having an efficient process will be key in keeping the work manageable without having to add additional staff," said Cheryl Brown, vice president of operations and program management at the $1.6 billion-asset institution, headquartered in Richland, Washington. "Using CentrixDTS™ from the beginning of a claim all the way through the processing of a chargeback will significantly improve the workflow and efficiency of our processing."
CentrixDTS™ is a product of Centrix Solutions, a Q2 company. Centrix's products are designed to empower FIs with products and services to help detect fraud, manage risk and simplify compliance. For more information on CentrixDTS™, visit www.q2ebanking.com/centrix or visit www.centrixsolutions.com.
About Q2 Holdings, Inc. Q2 Holdings, Inc. (Q2) is a leading provider of secure, cloud-based digital banking solutions headquartered in Austin, Texas. Q2 is driven by a culture of partnership and dedication to empowering community-focused banks and credit unions with digital banking solutions that help them stand apart, scale smart and grow beyond with retail and commercial account holders. Q2's solutions are designed to deliver a compelling, secure and consistent user experience on any device and enable customers to improve account holder retention and to create incremental sales opportunities. To learn more about Q2, visit www.q2ebanking.com.