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Simplifying payment operations for banks — scheme compliance, dispute management, fraud recovery and industry trends.
Customer trust in financial institutions has never been higher, according to a recent survey of over 32,000 bank customers in 28 countries. The 2024 Edelman Trust Barometer found trust levels highest among high-income earners and developing countries, which also support banks’ use of LLMs, AI and advanced technologies to improve security, operations and customer experience.
European countries are leveraging payment technology to drive innovation and growth in financial services. While consumer preferences vary in each country, they share common principles, which researchers Justus Meyer and Federica Teppa summarized as secure, easy to use, widely accepted, and cost-effective.
Deciding whether to build an in-house dispute management tool or to buy an established system is pivotal for any financial institution today. Join us on June 20 at 15:00 CEST for our webinar, "Dispute Management Solutions: Should Issuers Build or Buy?" and gain insights from industry experts on what’s best for your bank.
Payment card disputes and inquiries are as nuanced and various as the individual cardholders who initiate them. Card issuing banks need data, skills and advanced technologies to respond to each unique situation quickly and at scale. A recent study by Arizent found global banks are exploring AI’s potential to improve efficiencies, resolve issues and deflect fraud by automating dispute management and other manual processes.
In today’s digital age, global interest in chargebacks has surged due to the exponential growth of online commerce. Cardholders are increasingly aware of their rights and are quick to initiate chargebacks in cases of dissatisfaction or suspicion of fraud. As consumers grow savvier, banks and financial firms face complex challenges when addressing their rights.
PostFinance's roadmap to success with Kajo
Deciding between building an in-house dispute management solution or outsourcing can be a pivotal choice for financial institutions. Each option carries its unique set of benefits and challenges, which not only influences operational efficiency but also customer satisfaction and bottom-line results.
We’re thrilled to announce that Enfuce has selected Rivero as its partner to drive greater efficiency and control in scheme compliance management. By implementing Rivero’s all-in-one compliance solution, Kajo, Enfuce will empower its organization to stay fully aligned with payment scheme requirements while significantly reducing the risk of non-compliance.
Chargeback fraud has become a significant challenge in the digital age of commerce. It occurs when a cardholder makes a purchase with their credit or debit card and then requests a chargeback from the issuing bank after receiving the goods or services, claiming that the transaction was fraudulent or the product was never delivered.