For financial institutions, the ability to quickly and accurately resolve transaction disputes is crucial. Speedy resolutions are vital for maintaining high customer satisfaction, which is essential for building a positive reputation and fostering long-term customer retention.
At the same time, ensuring accurate and secure resolutions is just as critical for maintaining the integrity of financial transactions. Accurate data handling not only enhances operational efficiency but also deepens customer trust by managing transaction disputes reliably and securely.
As the customer experience becomes more seamless across all industries, customers have come to expect a consistent experience in their interactions with financial institutions. Anything less leads to customer dissatisfaction.
MuleSoft, in conjunction with Agentforce, offers a powerful solution that ensures connectivity, scalability, and reliability in transaction dispute management.
3 principles of trust-building with Agentforce
Incorporating digital agents into processes is a big step for most financial institutions. Considering the emphasis on security, it’s important to recognize the importance of building trust in AI with the following three principles:
- Connectivity ensures seamless access to third-party systems and internal databases, providing a complete view of customer information.
- Scalability allows the system to handle high volumes of requests efficiently, even during peak times like natural disasters, without compromising performance.
- Reliability is ensured through robust data integration and advanced security features, such as encryption and secure data transfer protocols, which protect sensitive information and meet regulatory requirements.
By adhering to these principles, Agentforce enhances the efficiency and accuracy of the claims process, fostering trust and confidence among agents.
1. Connectivity: Integrating across systems
One of the primary challenges in managing transaction disputes is the need to access data from multiple systems to better understand a particular case. A customer might need to verify their identity, review account history, and provide details about the disputed transaction, and these can all exist in separate systems, making it more challenging for all parties to get a clear picture of a particular situation.
With MuleSoft, Agentforce can seamlessly connect to a variety of third-party systems and internal databases across the organization. This comprehensive view of the data is made possible through integration that enables connectivity across all of the systems in an organization’s IT estate. Whether it’s a human worker or an AI agent, they will have all the necessary information to efficiently understand and resolve the dispute.
Consider a scenario where a bank’s customer support agent receives a call about fraudulent activity on a checking account. Rather than waiting on hold for an extended period of time, the customer can simply access a customer service chatbot via the convenient mobile app to type out a message regarding the concern.
The AI agent, which is powered by MuleSoft, immediately pulls user information from the bank’s backend systems to verify the customer’s identity and account details, based on the information provided. This seamless access to data allows the AI agent to open a case and gather the necessary information without delay, helping to speed up the eventual resolution of the case.
2. Scalability: Handling a high volume of requests
Like many customer service agents, transaction dispute managers can be overwhelmed, at times, by the quantity of cases. Luckily, managing a peak period with a high volume of cases can be mitigated by MuleSoft’s scalable architecture. This scalability ensures that Agentforce can handle these requests efficiently, even during periods of time where the number of cases tends to be higher than normal.
The platform is purpose-built to dynamically scale, ensuring that every customer receives the support they need, when they need it.
During the holiday season, where retail transactions tend to increase, for example, a bank might see a surge in transaction disputes. MuleSoft’s scalable infrastructure allows Agentforce to handle this increased load without compromising on performance.
The AI agent has the capacity to process multiple cases simultaneously, increasing the number of cases being worked at any given time. Because the AI agent has access across multiple systems, it can pull data from various systems while providing real-time updates to both the customer and the bank’s internal teams. This enables a consistent customer experience with transaction disputes, regardless of the volume of disputes in the queue.
3. Reliability: Ensuring accurate, secure resolutions
For the financial services industry, accuracy and security are paramount. MuleSoft’s robust integration capabilities ensure that data is securely transmitted and accurately processed. This enables Agentforce to pull transaction data from any system, including third-party software, to provide a comprehensive view of the dispute. This detailed information empowers the AI agent to make informed decisions and provide accurate resolutions.
For example, when a customer reports a fraudulent transaction, the AI agent can quickly check the user’s account history, identify the specific transaction, and pull additional details such as the time of day and payment type. This enriched data helps the agent to verify the claim and take appropriate action, such as blocking the merchant or issuing a provisional credit. The agent can also suggest potential next steps, such as canceling the original card and issuing a new one, all while ensuring that the customer’s information remains secure.
Customers demand seamless, connected experiences across touchpoints, and transaction disputes with their financial institutions are no exception. Thus, rapid and precise resolution of transaction disputes is essential. Any delay in resolving disputes can lead to significant customer dissatisfaction and erode trust.
Full integration with security in mind
MuleSoft with Agentforce gives financial institutions the power to fully integrate their systems, enabling connectivity and secure access to their customer data for AI agents to tap into. With connectivity, scalability, and reliability, organizations can trust agents to drive increased efficiency and overall productivity, leading to faster, more accurate dispute resolution.
