A comprehensive Dispute Management Solution titled Epic DMS which can facilitate banks and financial institutions to efficiently and effectively handle the backend operations of payment card transactions was launched in Malaysia recently. The event was held at the Sheraton Hotel in Kuala Lumpur and a large number of bankers attended. It was jointly organised by Paysis (M) Sdn Bhd and Epic Malaysia.
Addressing the participants, Epic Malaysia Director/Chief Technology Officer Viraj Mudalige said that once again a burning issue in the region was identified and a comprehensive solution has now been developed by Epic living up to its reputation as a world class solutions provider and a technology leader in the region.
It is estimated that over two billion cards are in use globally and card payments are still preferred as a fastest and most convenient mode of payments. Despite the exponential growth in card transactions, frauds, disputes and a large number of unsuccessful transactions too are reported quite often.
The necessity of a common platform to effectively and efficiently manage the backend operations to reconcile, charge back management and dispute management of payment card transactions has been there for some time and it was further justified as banks found it difficult to work with multiple vendors providing POS, internet, mobile phone and ATM switching solutions, said Mudalige.
Epic DMS can facilitate banks in reconciliation of different electronic channels including intermediate and suspense accounts on a regular basis. It also eliminates erroneous repetitions of payments.
Epic DMS can also handle charge backs while assisting the banks to pro-actively manage customer relations and to monitor profitability of card centre operations. Identifying disputes and resolving disputes using an automated mechanism are also major advantages of this solution. The event was a great opportunity to the participants as it had live demonstrations and an effective question and answer session.
A company with MSC status, Epic Malaysia Sdn Bhd is a fully-owned subsidiary of Epic Lanka, the renowned software solutions provider with an impeccable track record of 15 years.