Regtech FINBOA partners with MEA Financial image credit: shutterstock

Process automation regtech, FINBOA, has teamed up MEA to offer integrated dispute intake and automated compliance processing for MEA customers. MEA Financial provides mobile and online banking solutions to banks and credit unions throughout the US. It will now promote the FINBOA Payment Disputes SaaS solution to its client base. This represents an alternative to what it describes as inefficient manual compliance processes and systems currently used by financial institutions.

Specifically, automated dispute management enables account holders to seamlessly initiate payment disputes within their online or mobile banking application.

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Raj Singal, CEO, founder of FINBOA, said: “We are excited to partner with MEA Financial. This will allow any MEA client the ability to streamline and simplify the payment dispute process, while improving regulatory compliance. We look forward to a productive and mutually beneficial relationship.”

Edward Rhea, President/CEO, MEA, added: “”We too are excited to bring FINBOA into the MEA partnership program. Our UniFI Digital Banking suite is a leading-edge digital solution. It allows FIs to deliver a fresh UI/UX while providing all the requirements for a full function retail and commercial digital offering. FINBOA adds another streamlined solution to a complex issue every FI faces today.”

FINBOA’s Payment Dispute solution is deployed by more than 185 banks and credit unions to digitise and automate compliance workflows using intelligent process automation. According to FINBOA, financial institutions using its Payment Disputes solution report reducing intake processing time by up to 90%. At the same time, they reduce claim-related losses by an average of 25% and virtually eliminate re-keying.

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