Salesforce wants to help banks resolve transaction disputes faster with generative AI

In its latest generative artificial intelligence push, Salesforce Inc. said today it’s introducing new features for banks that will help them deal with transaction disputes much more rapidly.

The new generative AI capabilities announced today include Transaction Dispute Management and Einstein Copilot Banking Actions, which combine transaction data from customer’s banking platforms with insights from Salesforce’s Financial Services Cloud and customer relationship management systems. They will help automate various manual tasks, resolve issues, reduce errors and improve customer satisfaction, the company said.

Digging into today’s new offerings, Salesforce explained that the Transaction Dispute Management feature is designed to help streamline the dispute management cycle for bank service agents. Generally available starting today, it leverages generative AI to create personalized customer emails relating to disputes, such as acknowledging and notifying outcomes, while integrations with card networks help simplify coordination with third-party payment providers.

Besides speeding up dispute resolution, it will also help to ensure more transparency in customer communications, the company said.

Einstein Copilot Banking Actions is built atop Salesforce’s recently launched Einstein Copilot AI assistant. It’s designed to help bank service agents quickly obtain the information they need when dealing with each customer. Rather than switching among different systems and applications to perform tasks or find the background information they need, agents can simply ask Einstein Copilot, and it will automatically initiate actions such as a fee reversal request, or pull out a list of recent customer transactions.

Einstein Copilot Banking Actions will launch in the second half of the year, and the idea is to save time and improve the productivity of bank service agents. What’s more, it does this in a responsible way, as the tool is bound by the guardrails of Einstein Trust Layer, which is a trust and access framework that adheres to standard industry privacy and security measures.

A third new capability announced today is Service Processes Library, which leverages a list of prebuilt service process templates in the Financial Services Cloud for common banking use cases, such as card replacements, transaction disputes and fee reversals. So if a customer loses a credit card and calls to obtain a replacement, agents can use the “Reissue or Replace” process within the library to help the customer get the new card more quickly.

The company plans to expand this library with additional templates for things such as requesting tax documents and managing credit limits. The Service Processes Library is available now.

Salesforce said it’s uniquely able to help banks implement generative AI because its models are informed by the masses of data stored within its Data Cloud platform, which can be accessed quickly and securely. The company is also planning to integrate its vector database, slated to launch this summer, to aid with ingesting, managing and storing unstructured data such as PDF, HTML and policy documents. By doing this, it should be able to provide more accurate and reliable generative AI outputs.

The company thinks banks will be interested in the new offerings, because it believes that existing approaches for dispute management are extremely complicated and inefficient, resulting in customer frustration and losses for some businesses.

“The current process for managing transaction disputes is complex and cumbersome, leading to decreased productivity for bank service agents,” said Eran Agrios, senior vice president and general manager of financial services at Salesforce. “These new capabilities simplify and streamline the entire transaction dispute cycle, enabling banks to deliver exceptional customer experiences and drive innovation across their business.”

The company said the new features will be included at no added cost for all Financial Services Cloud users.

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