In this section, you can read featured success stories from banks that have leveraged our products.

Success Stories

One of the UK's leading independent omnichannel payments providers, DNA Payments is built on innovation. But as they grew, managing scheme compliance manually was causing issues and they looked for a more efficient process that encourages cross-collaboration.

“We were managing card scheme compliance bulletins manually — excel sheets, emails, meetings — everything was fragmented,” 

recalls Janannee Harroo, Director of Risk & Compliance at DNA Payments. 

“Tracking updates was a challenge, and staying compliant felt like a constant uphill battle.”

Having spent nearly a decade in the payments industry, Janannee knew firsthand the complexities of scheme compliance, and how resource-intensive it can be. When she joined DNA Payments, the organisation was at an early stage of its acquiring journey, having just received its scheme license. Bulletins needed to be reviewed, assigned and actioned across teams, but without a structured process, the team was getting pulled in too many directions.

Hire more people to track compliance manually or find a smarter solution? For Janannee, the choice was obvious.

"As a fintech, technology is in our DNA. It was a no-brainer to seek a solution that could simplify our processes, provide an audit trail, and free up valuable resources."

Enters Kajo, Rivero's scheme compliance and payment network updates management solution. At the time, both DNA Payments and Kajo were in early growth phases, making it a natural partnership.

 "Kajo evolved alongside us, continuously improving based on real-world usage and feedback."

With Kajo, tracking scheme updates stopped being a manual hassle. Kajo provided a structured, centralised system for accessing and managing scheme bulletins, eliminating the need to rely on spreadsheets and scattered email threads. Teams can filter updates, assign tasks and track progress, all in the same place.

The transition was smooth, thanks to Kajo's user-friendly interface, and was quickly adopted across teams.

Automation, audit trails, and a single source of truth

The impact of Kajo was immediate. No more lost emails, complicated spreadsheets or missed updates. Decision-making became faster, tracking became easier and efforts became more transparent. And with a clear audit trail, demonstrating scheme compliance to regulators became effortless.

"The solution isn’t just about tracking scheme compliance, it provides visibility and structure," says Janannee. "Instead of chasing updates, we have a centralised view of everything in one place."

While Kajo solved the major pain points, adoption and engagement across teams became the next challenge. DNA Payments appointed a dedicated team member to lead engagement, ensuring that employees across departments utilised the platform effectively.  

By acting as a centralised knowledge hub, Kajo also played a key role in spreading payment knowledge across the organisation, helping teams beyond compliance 

 stay informed about key regulatory updates and scheme requirements. This cross-functional visibility ensures that all departments across the organisation can proactively adapt to changes, avoiding last-minute adjustments, and foestering a culture of awareness and preparedness across the organisation.

"Scheme compliance affects more than just risk teams. It impacts product, fraud, operations, everyone," Janannee explains. "We’re working to integrate Kajo further into our workflows to drive even greater efficiency."

With continued collaboration between DNA Payments and Rivero, new enhancements are on the horizon, including improved data analytics and dashboard functionalities.

More than just the technology itself, Janannee highlights Rivero's exceptional support as a key factor in DNA Payments' ongoing commitment to Kajo.

"The responsiveness of the Rivero team is incredible," 

"Anytime we have a request, we get a prompt and serious response. That level of service is why we continue to invest in this solution."

For other financial institutions struggling with scheme compliance, Janannee’s advice is clear:

"If your challenge is tracking bulletins and ensuring compliance in a structured way, Kajo is the right solution. It has simplified our processes, increased efficiency, and reduced all hassle. The time saved, the clarity gained… it’s a game changer."

As DNA Payments continues to grow, Kajo remains an essential part of its compliance strategy, proving that the right technology can transform even the most complex processes into an easy operation.

DNA Payments Success Story

From admin to strategy: DNA Payments’ journey to a knowledge-first approach

We are frequently invited as guest speakers on topics related to payments. Here you will find our latest appearances.

Podcasts

We’ve been busy sharing fresh ideas and insights on the future of banking and payments in some amazing podcasts this year. If you missed them, don’t worry, here’s a quick recap!

, we focused on the back-office operations of banks — a vital, often under-appreciated aspect of the financial ecosystem. The conversation emphasised how adopting emerging technologies like AI, automation, and cloud systems can revolutionise this space, improving not just efficiency but also compliance, cost management, and operational agility. 

The takeaway? Back-office operations are no longer just support functions. They are integral to a bank's success and growth. As banks face mounting pressure to stay competitive, embracing digital transformation is no longer optional. It's a strategic necessity.

This episode serves as a powerful reminder that improving internal operations is just as important as enhancing customer-facing services. With the right tools and strategies, banks can drastically increase their agility, adapt to market changes faster, and create a more seamless customer experience. 

 where our CEO Thomas Müller reflected on the evolution of payment solutions. As the payments industry continues to transform with innovations like embedded finance and cross-border payment solutions, Rivero is leading the charge in creating seamless, scalable solutions that benefit both businesses and consumers. 

The future of payments goes beyond just transferring money. It’s about enhancing the customer experience through faster, more secure transactions and creating an ecosystem where payments are embedded seamlessly into everyday experiences. His insights underscored the importance of adaptability and innovation, especially as the payment space becomes more fragmented and complex. 

Both episodes offer a valuable glimpse into the direction of financial services in 2025. If you're keeping up to date, these conversations are packed with actionable insights and thought leadership on how technology is reshaping both banking operations and payments.

Podcasts Q1 2025

From back-office to payments: Key insights from our latest podcasts

PostFinance is a diversified, innovation-driven financial service provider that offers its 2.5 million customers modern solutions for managing their finances. As a driver of innovation, PostFinance helps people and companies in Switzerland tackle the challenges of the digital world. With around 104 billion francs in customer assets and more than 1.3 billion payment transactions a year, PostFinance is one of Switzerland’s leading financial institutions. 

We spoke with Daniele Angioletti and Ivana Paunovic, Chargeback analysts at PostFinance, about the current state of fraud and disputes and how Rivero helps improve customer experience.

Boost efficiency with greater customer-centricity

When the PostFinance Card combined with Debit Mastercard® was introduced, more and more customers started using their cards actively. Naturally, chargeback cases began to arise, and PostFinance had to go through quite a tedious process, capturing each transaction individually while their backlog started to pile up.

To deliver on its customer experience goals, PostFinance looked for a more efficient way to process chargebacks. It identified Rivero’s Amiko solution as the vital tool to streamline their dispute processes and effortlessly reduce fraud losses. 

"It was crucial for us that the new tool would allow us to process several transactions simultaneously while also providing a clear layout to work with,"

 Ivana recalled when asked about their selection process. 

This is clear when Daniele lays bare his time-saving calculations. "With Amiko, I can now process disputes at five times the previous rate, achieving nearly a 500% increase in efficiency. I can now process 20-30 disputes a day—depending on the size—whereas this was only 5 or 6 before." 

Scaling dispute process management through fast onboarding

Due to PostFinance’s previous legacy tool requiring a labour and time-intensive process, they were a bit anxious about implementing a new tool. 

"During our meetings, many uncertainties were clarified,"

"We appreciated the good collaboration with the Amiko experts, which made using Amiko efficient from the beginning,"

"Amiko is very user-friendly, and I had little trouble using the tool. Compared to the previous tool we used, the introduction to Amiko was much easier,"

"The layout, the personalised functionalities… It all just clicked for me. And it shows through the numbers. Before, it used to take about 30 minutes to record 15 transactions correctly, but with Amiko, it now only takes me 5!" 

Amiko’s ability to put all transactions related to a specific cardholder claim or fraud incident into one case is a game-changer for PostFinance.

Through constant check-ins and guidance in our partnership, we achieved the fastest time to value for PostFinance. 

After implementing Amiko, PostFinance is convinced that it was the missing link in their dispute management process, thanks to its responsive support and modern suite of features, including bulk uploads and automated pre-dispute and fraud reporting. 

Part of owning the customer relationship is giving cardholders the answers they need about their dispute claims. PostFinance is exploring the option of using the Virtual Agent as part of the Amiko solution to stay as dynamic and responsive as fraud and disputes themselves. The domain-specific chatbot uses card network rules while providing customer-requested transaction details on demand to help prevent first-party fraud claims.

"We greatly valued our collaboration with Rivero and were always amazed to receive very professional and detailed answers," Daniele mentioned.

"To sum up, we would recommend Amiko because of its clear layout and the efficiency gain," Ivana concluded.

If you'd like to learn more about Amiko, join our monthly 

How PostFinance boosted efficiency by 500% with digital dispute management SaaS solution

PostFinance Amiko Success Story

PostFinance on the efficiency gain to their fraud and dispute management

News

German version available further down below.

Rivero, the SaaS software provider for dispute management and compliance in payment transactions, is collaborating with SIX, a leading provider of financial market infrastructure in Europe, to provide the SaaS solution Amiko for fraud recovery and dispute management.

 – SaaS provider Rivero today announced that it will provide its fraud recovery and dispute management platform, Amiko, to SIX and its partner banks. This collaboration will enable SIX to optimize its chargeback process by introducing a range of self-service features for its partners and their cardholders.

With Amiko, SIX will be able to increase operational efficiency in chargeback resolution and provide a better customer experience for its partner banks. Rivero's Amiko technology will be used for fraud and dispute cases for debit cards (for more than 100 Swiss banks) issued and/or processed by SIX from 2026. This collaboration will significantly expand Rivero's reach.

As one of the leading debit card processing organizations in Switzerland, SIX is responsible for handling incoming fraud and dispute cases for partner banks. Rivero's Amiko software solution will help SIX manage all incoming disputes. By streamlining the different parts of the fraud and dispute process, media disruptions will be reduced and chargeback agents and analysts will be able to work on cases more efficiently.

Thomas Müller, CEO of Rivero, comments: “By working with a payment service provider as significant as SIX, Rivero can become the leading solution provider for securing the majority of debit cards in Switzerland. Our solution, Amiko, will support SIX in automating the chargeback process.”

He adds: “This cooperation is not only strategic, but also based on the common understanding that we need to work together to get the best out of our card and payment services. By using Amiko, SIX will benefit from one of the most modern, efficient and self-sufficient all-in-one SaaS payment solutions”.

Stefan Giger, Head Products & Services, Banking Services at SIX, comments on the collaboration: "The integration of Amiko will help us to support our clients in fraud investigation and dispute resolution. We know how stressful these situations can be for the cardholders of our partner banks. A quick and easy approach helps to resolve claims in an orderly and timely manner".

For more information about Rivero and their products Kajo and Amiko, please visit their website: 

Established in 2019 and headquartered in Switzerland, Rivero is a fast-growing European company and a Visa Fintech Partner specialising in streamlining payment operations within the highly regulated payments industry. It focuses on offering unique SaaS solutions for dispute management, and payment scheme compliance. Rivero’s flagship products, Kajo and Amiko, set it apart in the industry. Kajo is a solution for payment scheme compliance, minimising risks, and efforts for payment network licensees. Amiko revolutionises fraud recovery and dispute management processes by digitalising them, thus aiding issuing banks in efficient management and enhancing consumer protection.

Schweizer Fintech Rivero kooperiert mit führender Anbieterin von Finanzmarktinfrastruktur SIX

Rivero, der SaaS-Softwareanbieter für Dispute Management und Compliance im Zahlungsverkehr, kooperiert mit SIX, einer führenden Anbieterin von Finanzmarktinfrastruktur in Europa, um die SaaS-Lösung Amiko für Fraud Recovery und Dispute Management bereitzustellen.

 – Der SaaS-Anbieter Rivero gab heute bekannt, dass er seine Fraud Recovery- und Dispute Management-Plattform Amiko SIX und ihren Partnerbanken zur Verfügung stellen wird. Diese Zusammenarbeit wird es SIX ermöglichen, ihren Chargeback-Prozess durch die Einführung einer Reihe von Self-Service-Funktionen für ihre Partner und deren Karteninhaber zu optimieren.

Mit Amiko wird SIX in der Lage sein, ihre operative Effizienz bei der Lösung von Chargebacks zu steigern und ihren Partnerbanken hierzu ein besseres Kundenerlebnis zu bieten. Die Rivero-Technologie von Amiko wird ab 2026 bei Betrugs- und Streitfällen für Debitkarten (für mehr als 100 Schweizer Banken) zum Einsatz kommen, die von SIX ausgegeben und/oder verarbeitet werden. Diese Zusammenarbeit wird die Abdeckung von Rivero erheblich erweitern.

Als eines der führenden Debitkarten-Processing-Unternehmen in der Schweiz ist SIX für die Bearbeitung von eingehenden Betrugs- und Streitfällen für Partnerbanken verantwortlich. Die Softwarelösung Amiko von Rivero wird SIX dabei unterstützen, alle eingehenden Streitfälle zu verwalten. Durch die Straffung der verschiedenen Teile des Betrugs- und Streitfall-Prozesses werden Medienbrüche reduziert und die Chargeback-Agenten und Analysten können effizienter an den Fällen arbeiten.

Thomas Müller, CEO von Rivero, kommentiert: „Durch die Zusammenarbeit mit einer so bedeutenden Zahlungsdienstleisterin wie SIX kann Rivero zum führenden Lösungsanbieter für die Sicherung der Mehrheit der Debitkarten in der Schweiz werden. Unsere Lösung, Amiko, wird SIX dabei unterstützen, den Chargeback-Prozess zu automatisieren.“

Er fügt hinzu: „Diese Zusammenarbeit ist nicht nur strategischer Natur, sondern basiert auch auf dem gemeinsamen Verständnis, dass wir zusammenarbeiten müssen, um das Beste aus unseren Karten- und Zahlungsdienstleistungen herauszuholen. Durch den Einsatz von Amiko wird SIX von der Leistungsfähigkeit einer der modernsten, effizientesten und autarksten All-in-One-SaaS-Zahlungslösungen profitieren.“

Stefan Giger, Head Products & Services, Banking Services bei SIX, kommentiert die Zusammenarbeit wie folgt: „Die Integration von Amiko wird uns dabei unterstützen, unseren Kunden bei der Betrugsaufklärung und der Beilegung von Streitfällen behilflich zu sein. Wir wissen, wie belastend diese Situationen für die Karteninhaberinnen und -inhaber unserer Partnerbanken sein können. Ein schneller und einfacher Ansatz trägt dazu bei, Ansprüche geordnet und frühzeitig zu klären.“

Weitere Informationen zu Rivero und ihren Produkte Kajo und Amiko finden Sie auf der Website: 

Rivero, 2019 gegründet und mit Sitz in der Schweiz, ist ein schnell wachsendes europäisches Unternehmen und ein Visa-Fintech-Partner, das sich auf die Optimierung von Zahlungs-Betriebsprozessen innerhalb der stark regulierten Zahlungsbranche spezialisiert hat. Das Unternehmen bietet einzigartige SaaS-Lösungen für Dispute Management und Compliance im Zahlungsverkehr. Die Flaggschiff-Produkte von Rivero, Kajo und Amiko, heben das Unternehmen in der Branche hervor. Kajo ist eine Lösung für die Compliance von Zahlungssystemen, die Risiken und Aufwände für Lizenznehmer von Zahlungsnetzwerken minimiert. Amiko revolutioniert die Prozesse der Fraud Recovery und Dispute Management, indem sie diese digitalisiert und so den ausgebenden Banken bei der effizienten Verwaltung hilft und gleichzeitig den Verbraucherschutz stärkt.

Rivero x Six

Swiss Fintech Rivero collaborates with leading financial market infrastructure provider SIX

, a leading player in the payments industry, faced a massive challenge: managing compliance across multiple schemes such as Visa, MasterCard, JCB, Discover/Diners Bancontact and UnionPay, with over 150 publications each month. Each publication resulted in a cascade of tasks that had to be manually assigned and managed. This manual process was neither sustainable nor efficient and often led to missed opportunities.

“We were manually downloading publications, storing them on drives, and then sharing them in Excel,”

“It was time-consuming. We’d pass information around, but we didn’t always know if the tasks were being actioned. It was a reactive system that left us exposed to risks.”

As Worldline grew, the complexity of managing compliance across multiple schemes became increasingly difficult. With the potential for penalties, fines, or missed opportunities, the company needed a solution that could handle the volume of publications while giving them control over the compliance process.

“We were managing a huge volume of publications and tasks, and it was becoming more difficult to stay ahead of the game,”

, Head of Scheme Management at Worldline. 

“The old system wasn’t just inefficient, it was risky. We couldn’t afford to continue like that, so we decided it was time for a change.”

ca594fd5-4080-46a1-be89-859602103525_4000x3000.webp

Miranda Rodigas and Martin Barendregt during a Rivero event

From manual, disjointed processes to proactive risk management

Worldline’s old approach relied heavily on manual processes. With hundreds of publications each month, managing compliance was not only labour intensive but also reactive. The team didn’t have clear visibility into statuses, and there was no way to track progress in real time. This created the potential for non-compliance and missed deadlines, which could lead to costly fines or service disruptions.

What Worldline needed was a solution that could simplify this process, automate task assignments, and provide clear visibility into the status of every compliance mandate. This led them to Kajo, our scheme compliance management solution that centralises publications, automates assignments, and provides full visibility into the scheme compliance process. With Kajo, Worldline made a seamless transition from a fragmented, manual process to a fully integrated, digital platform.

The centralised aspect played a crucial role in the transformation: Worldline no longer needed to manually manage or store documents.

“For many people in the organisation, this was a game-changer. We don’t need to connect directly to the schemes to access the information ourselves. Kajo makes everything available and up-to-date, without the need for manual intervention,” says Miranda.

Kajo’s automated assignment feature was another key benefit. Instead of manually distributing bulletins via email, the relevant owners are now automatically notified of relevant updates that impact their domain. This has made the entire process much faster and more reliable.

“Before, we spent hours trying to track down the right information and distributing it manually. Now, everything is automated and updated daily,” says Martin. “We’ve cut out the manual work and can focus on the tasks that truly matter.”

Proactive compliance and significant risk reduction

With Kajo in place, Worldline shifted from a reactive to a proactive compliance management model. Instead of waiting for issues to arise, the team could now stay ahead of potential risks. The ability to track updates in real time and get instant feedback has made it possible to address compliance issues before they escalate into bigger problems.

“We now have full insight into the status of all mandates and related tasks, which allows us to proactively steer compliance,” says Miranda. “Instead of waiting for issues to arise, we can act early to avoid penalties or fines. We can even track and report on status, which was something we couldn’t do before.”

This digital approach has also led to cost savings. By staying ahead of compliance requirements, Worldline has been able to avoid penalties and fines that could have resulted from missed deadlines or overlooked publications.

“The best part is that we’re in full control now,”

“We’ve reduced the risk of compliance issues and saved on costs that we would have otherwise incurred due to non-compliance. Plus, we can now invest our time in more strategic activities that bring real value to the company.”

Maybe the most rewarding outcome of this transformation has been the ability to free up the team to focus on higher-level, strategic work. By automating the tedious, time-consuming aspects of compliance management, Worldline has given their team the time and resources to dive deeper into the issues that require their expertise.

“The automation of schemes updates distribution has allowed us to spend more time on high-value work,” says Martin. “We’re no longer bogged down by repetitive and manual tasks. We can focus on strategic decisions and proactive compliance management, which ultimately improves our productivity.”

5ade4656-65cd-4923-b9ac-e2cdc5d7a700_4000x3000.webp

Martin Barendregt showcasing Worldline’s implementation of Kajo

Worldline’s journey with Kajo is a great example of how adopting the right technology can transform a complex compliance process. By automating key tasks, centralising publications, and providing real-time visibility, Worldline has improved operational efficiency, reduced costs, and gained greater control over its compliance efforts.

“The transformation has been incredible,” says Miranda Rodigas, Head of Scheme Management at Worldline. “With Kajo, everything is in one place, publications are automatically made available, and tasks are assigned based on our specific configuration. It has eliminated the need for manual downloads and updates, and we can track progress every day.”

“We’ve gone from managing compliance reactively to proactively steering it with full insights,” says Martin. “This shift has not only improved our compliance but also allowed us to focus on what really matters: delivering value to our clients.”

Worldline, a leading player in the payments industry, faced a massive challenge: managing compliance across multiple schemes such as Visa, MasterCard, JCB, Discover/Diners Bancontact and UnionPay, with over 150 publications each month. Each publication resulted in a cascade of tasks that had to be manually assigned and managed. This manual process was neither sustainable nor efficient and often led to missed opportunities.

Rivero x Worldline

From manual processes to automated risk management: how Worldline transformed scheme compliance with Kajo

Learn about the operational challenges and risks associated with compliance with payment networks like Visa and Mastercard and find out how to simplify this process and make it more manageable and efficient.

Scheme Compliance

 recent investigation into payment network fees charged by card schemes has brought much-needed attention to the complexity and challenges financial institutions face with these costs. With shifting structures, automatic enrollments, and opt-out deadlines that often slip under the radar, scheme fees have long gone unnoticed due to a lack of visibility in finance departments. Managing them can be tough, but it’s more critical than ever for finance teams to stay on top of these charges to avoid unexpected hits to their budgets.

In light of this, we see a powerful use case for 

: supporting financial institutions in managing and minimising scheme fees by tracking opt-out deadlines and offering clear, up-to-date guidance on when and how to avoid unneeded costs.

The payment networks fee dilemma: automatic enrollments and missed opt-outs

Scheme fees cover a wide range of services from payment networks, from risk management to transaction support. These fees are integral to the payment ecosystem, but how they are introduced can cause headaches. Some payment networks start new services which often come with automatic enrollments and limited-time trial periods, leaving finance teams at banks scrambling to keep track of deadlines. If the bank fails to opt out before a trial period ends, it could result in charges for services it doesn’t need.

These fees can easily slip through the cracks, especially when finance departments overlook scheme bulletins that notify licensees of new services and associated costs. And if a bank relies on its processor for scheme compliance processing, these bulletins might not even make it to the right people. As a result, they might end up paying for a service that they neither use nor that fits their needs.

The impact of overlooked fees on the bottom line

Missed opt-out deadlines and unused services can lead to needless charges; charges that go unnoticed and unchallenged. Over time, these costs add up, eating into profits. For example, some organisations inadvertently pay for advanced fraud detection tools offered by card schemes even though they already have in-house internal systems that cover the same risks. Without visibility into these fees, finance teams may be paying for redundant services that chip away at profitability.

How Kajo helps finance teams at banks, cut hidden costs and regain control

Here’s how Kajo can be an effective tool for finance teams looking to gain visibility and control over these often-overlooked costs:

Tapping into Kajo’s power for finance teams

For finance teams at banks, managing payment scheme fees isn’t just about saving money. It’s about having control and visibility. With Kajo as an organised, centralised solution, finance teams can take a proactive approach and stay ahead by tracking deadlines, making informed decisions and improving the bottom line. 

Kajo equips teams with everything they need to regain control over scheme fee changes and updates, keeping costs in check and ensuring banks pay for products and services they use.

Don’t let hidden fees eat into your revenue. Get in touch with us for a 

The European Commission’s recent investigation into payment network fees charged by card schemes has brought much-needed attention to the complexity and challenges financial institutions face with these costs. With shifting structures, automatic enrollments, and opt-out deadlines that often slip under the radar, scheme fees have long gone unnoticed due to a lack of visibility in finance departments.

Taming the multitude of scheme fees

Taming the multitude of scheme fees: how finance teams can take back control

Gain exclusive insights into the evolving world of payments that are reshaping the banking sector and enhancing customer experiences.

Thought Leadership

Thor Arve Vartdal, scheme compliance expert at Rivero, observed that digital operational resilience is a driving force in modern dispute management, as it continues to evolve from basic efforts to shorten dispute cycles into complex, data-driven interactions. 

“I’ve been working with compliance, fraud, and disputes for quite a few years, on both the issuing and acquiring side,”

“Optimising disputes is not new; 20 years ago, Visa had a project called Red, which stands for re-engineering disputes, with the objective of shortening debates between issuers and acquirers about which party is liable for a dispute. But dispute management is so much more than that.” 

In our “Mastering Dispute Management” webinar (hosted on September 2024), Vartdal explored industry trends with Ben Beer, senior consultant, dispute optimisation at Visa. Beer noted that disputes had leveled off following the pandemic but have begun to rise again and 

75% of current dispute traffic is fraudulent

“We’re paying a high price for disputes across the European region,” Beer said. “The Visa network processed around 

 worth, roughly $928 million in 2023, and European volumes may cross a billion relatively soon, because we had an increase of 8% between 2021 and 2023.”

Beer went on to say that organizations are beginning to evaluate the operational costs of dispute management, citing the following six pillars of effective dispute processing:  

Beer stated that he has seen some issuers’ team members use up to five or six applications to manage a single dispute. It may begin with a customer emailing a form, which requires Outlook. Then the form needs to be scanned, which requires document imaging, and subsequently uploaded to a CRM, such as Salesforce. After raising the incident as a dispute through Visa Resolve Online (VROL), the transaction may also require research in a different application, such as a fraud prevention tool or solution. In this example, the organisation used six different applications to process a single dispute.  

Vartdal noted that Amiko could replace all such side applications and enable issuers to manage the entire dispute from initial inquiry and case management to resolution in Amiko. 

“We have received feedback from issuers who have doubled their capacity to handle disputes by using Amiko,”

“Others have saved costs by automating dispute management functions, which enabled them to resolve small-ticket disputes that had previously been too expensive to process.” 

Rivero x Visa webinar

 due to incomplete forms or missing information, 

 optimises dispute management by presenting required information on demand. As a customer’s first touchpoint, the Virtual Agent can also use this data to deflect first-party misuse by providing customers with details that jog their memories and demystify questioned transactions. In fact, an issuer recently told Rivero that only one-third of conversations initiated by the Amiko Virtual Agent resulted in actual dispute cases.

How resilient is your dispute management?

Events in July 2024 could be likened to a stress test of the global financial ecosystem. Escalating fraud and service outages involving Microsoft operating systems and UK’s CHAPS interbank payment system tested the resilience of banks, enterprises and service providers worldwide.  

Alex Reddish, responsible for international expansion at 

, compared payment flows to water, electricity, and other public utilities, which tend to be taken for granted until something breaks. 

“The CHAPS outage illustrates how much we depend on these systems and the smooth flow of payments, no matter which system they pass through.”

Recent service interruptions had been caused by third-party service providers, Reddish noted. Microsoft Windows operating systems went dark on 19 July 2024, after security provider CrowdStrike distributed a faulty update to its Falcon Sensor software. CHAPS went down the following day, due to operational difficulties at third-party provider Swift. These events raise questions about legacy systems, he said, and their capacity to manage modern-day commerce. 

Thomas Müller, co-founder and CEO of Rivero, observed that recent outages brought down computer systems around the world, impacting banks and payment gateways and causing airlines to ground flights in many countries. 

“It may still be a while before the financial cost of the outage is totalled,”

“However, this incident is a reminder of the need for resilient systems that can withstand faults without causing widespread disruption.”

Building resilient systems may seem daunting at first, but Müller has seen financial institutions update systems without ripping out or replacing existing infrastructure. Each system, built to unique specifications, shares these four essential attributes: 

Modern SaaS solutions provide these capabilities without requiring heavy upfront investments and lengthy implementations, Müller noted. Participating banks can be up and running in weeks rather than months by using APIs to extend capabilities and improve efficiencies, he added. 

Achieving and sustaining resilience: the case of fraud and disputes

 (MRC) members warned of a recent uptick in refund abuse, first-party misuse, and chargeback volumes throughout the merchant community.  

The MRC advised merchants and solution providers to review current KPIs and velocity checks to identify any changes to transaction flows and to consider adding additional KPIs and velocity metrics to detect repeat refund requests. They also recommended evaluating the percentage of refunds and replacements in total sales, the amount of time that elapses between purchases and refunds, and prevailing reasons for chargebacks. 

“We haven’t identified a specific profile, meaning that the abuse appears to be across all card types, low and high-net-worth customers, card present and card not present, different merchandise categories, etc.”

Müller noted that the collective impacts of these fraudulent activities flow upstream to card issuers, but digital technologies can improve resilience and protect stakeholders from harm. He added, 

“For example, with our dispute management product, Amiko, we offer card issuers a rule-based virtual agent, which can be integrated into the bank’s app and is directly linked to Mastercard’s 

The virtual agent can then help cardholders remember the transactions in question by providing additional transaction details, alternative merchant names, logos, and contact information, as well as the device used at checkout. 

 has helped our clients and partners deflect 

 of friendly fraud, simply by sharing transaction data and digital receipts with cardholders.

In addition, advanced, SaaS-based solutions like Amiko enable financial institutions to automate manual dispute case management procedures and incorporate multilingual chatbots into cardholder communications. In the digital-first world, customers appreciate having self-service options for obtaining information instantly, on-demand, and in their native languages. 

 defines operational resilience as the ability to deliver critical operations through all types of disruptions. Achieving and sustaining resilience requires an appropriate framework, internal governance, and coordinated efforts of service providers and policymakers. With these pillars in place, banks are well-positioned to identify and react to threats, protect critical infrastructure and find teachable moments in disruptive, chaotic events. 

) reflects further efforts to legislate and standardise approaches to resilience in the financial sector. Enacted by the European Union in January 2023, and set to become effective in January 2025, the ruling aims at protecting information and communication technology (ICT) across banks, insurance companies, and investment firms, which the EU noted are susceptible to cyber-attacks and other disruptions. 

Noting that ICT supports complex systems used daily and high-level economic activities, regulators stated that these technologies must be safeguarded from threats and disruptions. 

 emphasised the need to harden security and improve preparedness across increasingly digitalised and interconnected workplace environments. 

“While the ubiquitous use of ICT systems and high digitalisation and connectivity are today core features of the activities of Union financial entities, their digital resilience has yet to be better addressed and integrated into their broader operational frameworks.” 

Events in July 2024 could be likened to a stress test of the global financial ecosystem. Escalating fraud and service outages involving Microsoft operating systems and UK’s CHAPS interbank payment system tested the resilience of banks, enterprises and service providers worldwide.  



Maintain continuity with resilient payment operations

Learn about the operational challenges and risks associated with the fraud & dispute process for banks and explore strategies and best practices benefitting both banks and their cardholders.

Fraud & Disputes

According to new studies by Ethoca, Verifi and Datos Insights, chargebacks continue to roil the global financial ecosystem. Charting an uptick in fraud and first-party misuse (FPM), the reports examine trends in dispute management and consumer behaviour.

, cited refund/policy abuse and first-party misuse (FPM) as top fraud trends in 2023, noting that both involve post-purchase efforts by customers or fraudsters to obtain free goods or services. Researchers found merchants use multiple tools throughout the transaction lifecycle to mitigate these disputes. For example, 67% of the 1,166 merchants surveyed routinely review and analyse non-fraud chargebacks to counter FPM, and 65% look for unusual patterns in customer order histories.

Effectiveness of tactics used to combat first-party-misuse

Fight First-Party Misuse

Source: Verifi 2024 Global Fraud & Payments Report

Consistent with Ethoca’s findings, the 

, produced by the Merchant Risk Council, Verifi, and Visa Acceptance Solutions, named refund/policy abuse and first-party misuse as the top two threats in 2022 and 2023, with FPM rapidly rising. Based on a survey of over 1,100 merchants in North America, Europe, Latin America, and Asia-Pacific regions, the report indicated that merchants reject approximately 6% of e-commerce orders due to fraud concerns, leading to false positive rates of between 2% and 10% and win rates of below 20% on fraud-related cardholder disputes.  

“For the second consecutive year, more than 60% of merchants in the survey say they experienced an increase in FPM over the past 12 months,”

 researchers wrote, noting that 31% of survey respondents had seen 

 in the past year alone. These findings provide further evidence of FPM’s meteoric rise 

Change in first-party misuse over the past year

Change in first-party misuse over the past year (2024)

will contact a bank first to resolve a transaction issue. 

“Half of consumers who didn’t recognise a purchase transaction contacted their bank while 

According to new studies by Ethoca, Verifi and Datos Insights, Chargebacks continue to roil the global financial ecosystem. Charting an uptick in fraud and first-party misuse (FPM), the reports examine trends in dispute management and consumer behaviour.

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