Name: Automation in fraud prevention and dispute resolution
Uploaded: 2023-09-20T12:23:45.941Z
Duration: 241.8
Description: Devon Anderson, Account Executive, Mid-Market, Quavo, joins us to talk about the innovative ways fraud and disputes can be dealt with and their positive impact on end-users.

Fall.SPINT.014.mp4

Quavo

Back

Or filter by your interest

Browse all our content

Finovate

Unlock all the content with only {{price}}

FinovateFall 2023

Fall.SPINT.014 Devon Anderson.vtt

English

{{00:00:05}}
Julie Muhn: Hello.

{{00:00:05}}
Thank you for joining us.

{{00:00:07}}
My name is Julie Muhn.

{{00:00:08}}
I'm Senior Research Analyst with
Finovate and we are here today live

{{00:00:12}}
at FinovateFall 2023 in New York.

{{00:00:16}}
Today, I'm joined by Devon Anderson,
account executive, mid -market at Quavo.

{{00:00:21}}
Thank you so much for joining us, Devon.

{{00:00:23}}
Yeah, thanks for having me.

{{00:00:24}}
So to kick us off, tell us about
why Quavo is a thought leader.

{{00:00:29}}
What position do you have as a thought
leader within the fintech industry?

{{00:00:32}}
Devon Anderson: Yeah, so Quavo
approaches the problem that we're

{{00:00:35}}
trying to solve, which is fraud and
disputes, much differently than the

{{00:00:38}}
rest of the industry historically has.

{{00:00:40}}
And the big piece of that really
starts and ends with automation.

{{00:00:45}}
Automation drives our chargeback
engine, and as a result of that, we

{{00:00:49}}
look at work management much differently
than everyone else has in the past.

{{00:00:53}}
We let the product own and automate
as much of each claim as possible, and

{{00:00:57}}
then as a result, we only show human
exceptions in the automation process.

{{00:01:02}}
What this allows us to do is it allows
us to speed up recovery, recover more,

{{00:01:06}}
and have a better end user experience.

{{00:01:08}}
Julie Muhn: Very cool.

{{00:01:09}}
Yeah, so it's that
automation piece that's key.

{{00:01:12}}
And how do you as a company
remain innovative as this fraud

{{00:01:16}}
that we're seeing increases?

{{00:01:18}}
Devon Anderson: Yeah,
that's a great question.

{{00:01:19}}
So a lot of that is getting our data
in the hands of our clients, right?

{{00:01:24}}
Data is fantastic, but we need to be able
to access it and manipulate it in order

{{00:01:28}}
to tweak things like fraud prevention
strategies or alerts and detection, right?

{{00:01:32}}
So that's what we've really made a
big push for is getting that data into

{{00:01:36}}
the hands of our clients so that they
feel empowered to make those changes.

{{00:01:40}}
Additionally, we're always
looking out at the industry and

{{00:01:43}}
getting ready for changes, right?

{{00:01:45}}
The next thing on the, that's coming
down, the pipe is going to be fed now.

{{00:01:49}}
RTP, right?

{{00:01:50}}
That's all the buzz.

{{00:01:50}}
So we're constantly making sure that
we're ahead of that curve, right?

{{00:01:54}}
Julie Muhn: And so tell us about some of
the benefits that your clients are seeing

{{00:01:57}}
with the adoption of Quavo as a partner.

{{00:02:00}}
Devon Anderson: Yeah, so the biggest
benefit is that as much as I'm sure

{{00:02:04}}
you have great ideas and I have great
ideas and our clients all have fantastic

{{00:02:08}}
ideas, we're really not pigeonholed
to just one person shouting from the

{{00:02:13}}
rooftops, having those ideas, and then
driving the product or that growth.

{{00:02:17}}
We actually bring all of our product
enhancements from our client community.

{{00:02:21}}
Enterprise banks are collaborating
with credit unions who are

{{00:02:24}}
collaborating with processors who are
collaborating with regional banks.

{{00:02:27}}
And as a result, we get all of these
wonderful ideas and the greatest ones.

{{00:02:31}}
They rise to the top, become
a part of our product roadmap.

{{00:02:35}}
And they end up in the solution free to
use for all our entire client community.

{{00:02:39}}
Julie Muhn: Very cool.

{{00:02:39}}
Yeah.

{{00:02:40}}
So it benefits everyone then.

{{00:02:41}}
Devon Anderson: Absolutely.

{{00:02:42}}
And we also do quarterly business reviews
where we can really stack rank and show,

{{00:02:45}}
Hey, here's where client a might be having
a little more success than client B.

{{00:02:50}}
And we have some consultative strategies
that we can tweak and use to really

{{00:02:54}}
mitigate that risk to the business.

{{00:02:56}}
Or maybe it's, Hey, client B is
doing a little worse than client A.

{{00:03:00}}
What, or what can we do to really get
there and, lift that automation level?

{{00:03:05}}
So we see the highest level
of success with the product.

{{00:03:08}}
Julie Muhn: Very cool.

{{00:03:09}}
Alright, we have time for
one more question here.

{{00:03:11}}
So tell us a little bit about those
benefits that you described extend

{{00:03:14}}
outside of the Quavo issuer relationship.

{{00:03:18}}
Devon Anderson: Like I briefly
mentioned at the beginning, it all

{{00:03:21}}
comes down to that end user experience.

{{00:03:23}}
Fraud is a moment that
matters for cardholders.

{{00:03:26}}
We know that not many Americans have
500 to spare in case of an emergency.

{{00:03:31}}
So if you were to look at Quavo's website,
we actually have a running total of about

{{00:03:36}}
the half a billion dollars that we've
gotten back into the hands of consumers.

{{00:03:40}}
And that's really what is the
biggest win is that member experience

{{00:03:43}}
making sure that the consumers are
protected at the end of the day.

{{00:03:47}}
Julie Muhn: Yeah, bringing it
all about the end customer.

{{00:03:49}}
That's great.

{{00:03:50}}
Thank you so much, Devon,
and thank you for joining us.

{{00:03:52}}
This has been Devon Anderson, account
executive mid -market at Quavo.

I'm Senior Research Analyst with
Finovate and we are here today live

Today, I'm joined by Devon Anderson,
account executive, mid -market at Quavo.

So to kick us off, tell us about
why Quavo is a thought leader.

What position do you have as a thought
leader within the fintech industry?

Devon Anderson: Yeah, so Quavo
approaches the problem that we're

trying to solve, which is fraud and
disputes, much differently than the

And the big piece of that really
starts and ends with automation.

Automation drives our chargeback
engine, and as a result of that, we

look at work management much differently
than everyone else has in the past.

We let the product own and automate
as much of each claim as possible, and

then as a result, we only show human
exceptions in the automation process.

What this allows us to do is it allows
us to speed up recovery, recover more,

Yeah, so it's that
automation piece that's key.

And how do you as a company
remain innovative as this fraud

Devon Anderson: Yeah,
that's a great question.

So a lot of that is getting our data
in the hands of our clients, right?

Data is fantastic, but we need to be able
to access it and manipulate it in order

to tweak things like fraud prevention
strategies or alerts and detection, right?

So that's what we've really made a
big push for is getting that data into

the hands of our clients so that they
feel empowered to make those changes.

Additionally, we're always
looking out at the industry and

The next thing on the, that's coming
down, the pipe is going to be fed now.

So we're constantly making sure that
we're ahead of that curve, right?

Julie Muhn: And so tell us about some of
the benefits that your clients are seeing

Devon Anderson: Yeah, so the biggest
benefit is that as much as I'm sure

you have great ideas and I have great
ideas and our clients all have fantastic

ideas, we're really not pigeonholed
to just one person shouting from the

rooftops, having those ideas, and then
driving the product or that growth.

We actually bring all of our product
enhancements from our client community.

Enterprise banks are collaborating
with credit unions who are

collaborating with processors who are
collaborating with regional banks.

And as a result, we get all of these
wonderful ideas and the greatest ones.

They rise to the top, become
a part of our product roadmap.

And they end up in the solution free to
use for all our entire client community.

And we also do quarterly business reviews
where we can really stack rank and show,

Hey, here's where client a might be having
a little more success than client B.

And we have some consultative strategies
that we can tweak and use to really

Or maybe it's, Hey, client B is
doing a little worse than client A.

What, or what can we do to really get
there and, lift that automation level?

So we see the highest level
of success with the product.

Alright, we have time for
one more question here.

So tell us a little bit about those
benefits that you described extend

outside of the Quavo issuer relationship.

Devon Anderson: Like I briefly
mentioned at the beginning, it all

Fraud is a moment that
matters for cardholders.

We know that not many Americans have
500 to spare in case of an emergency.

So if you were to look at Quavo's website,
we actually have a running total of about

the half a billion dollars that we've
gotten back into the hands of consumers.

And that's really what is the
biggest win is that member experience

making sure that the consumers are
protected at the end of the day.

Julie Muhn: Yeah, bringing it
all about the end customer.

Thank you so much, Devon,
and thank you for joining us.

This has been Devon Anderson, account
executive mid -market at Quavo.

FinovateFall

Explainer

Devon Anderson, Account Executive, Mid-Market, Quavo, joins us to talk about the innovative ways fraud and disputes can be dealt with and their positive impact on end-users.