Global, Thursday, 30 January 2025.ServiceNow and Visa have expanded their alliance to enhance financial dispute resolution services using AI, improving compliance, efficiency, and customer experience globally.
Strategic Partnership Details
The expanded alliance, announced on January 28, 2025, will see Visa implementing ServiceNow’s Dispute Management solution, leveraging advanced AI capabilities to power both the Visa Dispute Management Service (VDMS) and Visa DPS Dispute Analysis and Support (DAS) [1][2]. This collaboration builds upon a five-year strategic agreement established in 2024, marking a significant advancement in payment services transformation [1][3].
AI-Powered Innovation
The integration focuses on streamlining traditionally costly and lengthy payment card dispute resolutions through AI-powered automation [4][5]. According to Vidya Balakrishnan, VP and GM of Financial Services Industry at ServiceNow, ‘Banks worldwide are using ServiceNow to deliver frictionless, AI-powered customer experiences, ranging from onboarding and daily servicing to resolving disputes’ [1][2].
Enhanced Security Measures
A crucial aspect of this partnership involves collaboration with Skyflow to ensure robust PCI compliance and cardholder data protection during the dispute resolution process [1][6]. This three-way collaboration demonstrates a comprehensive approach to securing sensitive financial information while improving operational efficiency [2][5].
Future Implications
Neil Mumm, SVP & GM at Visa DPS, emphasizes that ‘Harnessing the advanced capabilities of ServiceNow’s platform will improve how we manage disputes for issuers’ [1][2]. While specific implementation timelines are yet to be announced [alert! ‘future product delivery dates not specified’], this partnership represents a significant step forward in modernizing financial dispute resolution systems [3][5].
