Cognizant has partnered with ServiceNow to introduce an AI-powered dispute management solution tailored for mid-market banks in North America. This Business Process as a Service (BPaaS) offering streamlines the dispute resolution process to enhance efficiency, minimise chargeback losses, and improve customer experience.
“We are pleased to strengthen our partnership with ServiceNow and empower mid-market banks with AI-powered technology and operations,” said Nageswar Cherukupalli, senior vice president and business unit head of banking, capital markets, insurance and strategic initiatives, of Cognizant. “With our expertise in end-to-end dispute management, we look forward to helping banks operate more efficiently and increase customer satisfaction. We are proud to be at the forefront of innovative, technology-driven solutions that have the potential to transform dispute management in the banking industry.”
Key challenges in dispute resolution  Â
For many mid-market banks, handling customer disputes remains complex and inefficient. Disjointed systems, manual workflows, and compliance challenges often lead to delays, increased operational costs, and customer dissatisfaction. Additionally, chargeback losses are a major concern, impacting financial stability and customer trust.
Integrating ServiceNow’s dispute management technology with Cognizant’s knowledge in end-to-end dispute resolution delivers a seamless, AI-driven approach that reduces manual intervention while ensuring accuracy and compliance.
“Cognizant’s domain expertise in financial services and deep ServiceNow technical experience are essential to expanding the ServiceNow Disputes Management product offering to new market segments,” said Binoy Gosalia, VP of Global Partner Acceleration of ServiceNow.
Key features
Customers can submit disputes through multiple platforms, including mobile apps, web portals, and CRM systems, ensuring accessibility and convenience.
In addition, AI-driven voice and text analysis helps banks gauge customer emotions, allowing for more empathetic and personalised responses. High levels of automation also allow for faster dispute resolution, reducing human intervention and operational inefficiencies.
Furthermore, a workflow data fabric supports real-time BI reporting, giving banks insights into dispute patterns, operational bottlenecks, and customer behaviour.
Enhancing efficiency and customer trust  Â
This next-generation dispute management system aims to revolutionise how mid-market banks handle customer grievances, making the process more transparent, efficient, and customer-friendly.
Banks can significantly enhance customer satisfaction while maintaining compliance with regulatory standards by reducing operational strain and accelerating resolution times.