Get to Know First Hawaiian Bank
Founded in 1858, First Hawaiian Bank (FHB) is Hawaii’s largest financial institution. The bank offers a comprehensive suite of banking services to consumer and commercial customers spanning deposit products, lending, payments, and advisory services. FHB brings together people, culture, and technology to deliver personalized financial solutions to meet customers’ needs; especially in an increasingly complex fraud environment.
Challenges
BURDENS OF A MANUAL PROCESS
The Bank’s established processes for investigating fraud and dispute claims created inefficiencies, friction, and risk. The disputes team would put forth incredible efforts to resolve claims by manually keying in data into a variety of systems and closing out every single case by hand. “Our dispute process was 100% manual, including a duplicate process of repeating the claim intake once in our core system and a second time for the chargeback process,” said Barbara Valona, VP & Bank Card Center Manager.
LENGTHY PATH TO RESOLUTION
FHB invested considerable time in resolving claims, impacting accountholder satisfaction and depressing the percentage of cases resolved in the Bank’s favor. The average time to close out a claim was lengthy, meaning that accountholders wouldn’t always know the final outcome of their claim in a timely manner.
Recognizing these dynamics, FHB was committed to finding a claims solution that brought streamlined workflows, frictionless API integration, and compliance support. It was imperative to partner with an organization that would support FHB as the bank navigated technology installation and process evolution.
Solutions
ALL-IN-ONE SOFTWARE
Quavo’s QFD software stood out to FHB Dispute Managers as an end-to-end solution including claim creation capabilities, a dispute processing hub, and an intuitive workflow to automate work and create staff efficiencies. A quote from one of FHB’s dispute analysts more or less sums up the experience: “Integrating (QFD) as our Dispute Management system at First Hawaiian Bank has been a game changer.”
ASCENDING WITH AUTOMATION
Resolving fraud and dispute claims involves many processes including lettering, accounting, and messaging the merchant and Association. QFD does the heavy lifting for these workflows by automating letters and emails, making monetary adjustments, and connecting to MCOM and Verifi for automated case work.
“Quavo’s automation has reduced the amount of time our agents touch a claim dramatically. This has taken so much pressure off our team, enhanced work/life balance, and improved team morale,” Barbara concluded. A Senior Dispute agent went on to say, “Quavo has given me my soul back.”
PARTNERSHIP WITH A PURPOSE
Beyond the software’s improvements, FHB sees passion for financial technology advancement in Quavo that aligns to the Bank’s goals. Quavo’s consultative approach to client support in particular helps drive process improvements around the software, further enhancing outcomes for the Bank, its customers, and staff.
From upskilling employees to assisting with automation thresholds, Quavo worked closely with FHB to minimize manual work while keeping the risk of losses down. “They have helped us navigate learning and adjusting our processes to the new system. They have mentored our leadership staff on how to manage our claim volumes and daily workloads using automation, built-in tools, and reporting,” Barbara continued.
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The value of Quavo is not just in their system; the value is in the partnership and collaborating with their team to build an empowered and highly efficient Disputes Department.
Barbara Valona
VP & Bank Card Center Manager
On the Horizon
FHB and Quavo are partnering to bring debit and commercial product claim support to QFD. ARIA, QFD’s investigation assistant, makes case decisions based on pre-defined rules and will be implemented this year.
Expanding the self-service capability to FHB’s mobile app will enhance the cardholder experience further by enabling customers to submit and manage claims all from their smartphone.
First Hawaiian Bank works diligently to innovate their processes and elevate their technology in service of improving their cardholder satisfaction.
Results
- Increased Efficiency in Fraud and Dispute Claims: Implementing Quavo’s QFD software enabled First Hawaiian Bank to significantly reduce the manual effort involved in fraud and dispute claims. Automation of key processes minimized the time agents needed to handle each claim, greatly improving operational efficiency.
- Improved Employee Morale and Work/Life Balance: The automation provided by Quavo's QFD software not only streamlined workflows but also reduced the stress on employees. Barbara Valona, VP & Bank Card Center Manager, noted that the new system dramatically alleviated pressure on the team.
- Enhanced Customer Satisfaction and Faster Resolutions: By automating and optimizing the dispute resolution process, First Hawaiian Bank improved the speed and accuracy of claim resolutions, leading to higher customer satisfaction. The integrated system also increased the percentage of cases resolved in the Bank’s favor, demonstrating the effectiveness of the new solution.
