Infosys Alert Solutions — Dispute Prediction

Overview

As the volume of banking transactions grows exponentially, disputes in this area are also growing at a comparative rate. Disputes in the US market in 2023 are expected to be in the range of tens of millions. Handling disputes is complicated and expensive.

The Infosys Alert Solutions uses a set of cutting-edge approaches to provide early warnings on disputes.

The Infosys Alert Solutions has a powerful machine learning-based predictive and correlation engine which analyses the past data of customers and builds context-specific prediction models to identify the customers most likely to raise disputes.

Furthermore, the Infosys Alert Solutions brings in state-of-the-art GenAI capabilities to understand customer sentiment, summarize and provide deeper insights on the core issues of the dispute.

Identifying dissatisfied customers most likely to file disputes and enabling the bank to take proactive action (~90% accuracy).

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One of the foundational elements of this offering is the predictive and correlation engine with a set of curated machine learning algorithms. These algorithms are trained on the past customer data records using statistical and data mining approaches to create specific models which can identify the factors most suitable to predict disputes. The identified factors or parameters are then applied to the current set of transactions data to forecast the probability of future disputes.

Based on the past learning, the model is able to predict the list of customers most likely to dispute. The UI displays the list of these customers along with all required elements for deeper analysis, for e.g., documents, system records, agent records amongst others. The solution has been enhanced with GenAI features to present a summarized view of the problem faced by the customer and further provide additional insights. This explainability feature can aid the users to understand the key drivers behind the model's predictions and initiate appropriate remedial actions.

Infosys Alert Solutions can integrate with the bank’s standard operating procedures and systems to track the issues to closure, thus creating an effective remedial framework. The offering leverages Infosys’ experience of several decades in different banking process domains along with strong implementation credentials. This is coupled with Infosys’ expertise in AI/ML built over the past two decades and is built on the foundation of Infosys Topaz.

Challenges & Solutions

Exponential growth in disputes along with rapid growth in transaction volumes – leading to challenges in effective handling of disputes.

Automated early warning of disputes to the bank along with aggregation of all key data / information elements and summarized view with insights can help in quick and appropriate remedial measures.

Data for analysis resides in multiple sources and is of highly varied form and types.

The solution uses different AI techniques such as DocAI, NLP etc. in addition to GenAI to ingest and transform data from multiple data sources including documents, structured and unstructured data.

The workforce of the bank is getting younger; along with challenges to retain talent and experienced employees - leading to lowering of experience levels in the bank.

The Infosys Alert Solutions bring an automated approach to preventing and managing disputes, integrating with the banks’ SOP and seamlessly fitting into the bank’s existing dispute management framework, thus reducing human dependency.