Resolves Transaction Disputes More Quickly with AI-powered Salesforce CRM Capabilities

The banking industry is about to be revolutionized, all thanks to the latest update by the CRM giant Salesforce, which has introduced new AI-powered capabilities that enable banks to resolve transaction disputes quickly and efficiently.

Built on the Einstein 1 Platform, the new CRM features are all set to bring both convenience and a new set of opportunities for the banking industry.

Let’s move ahead and discuss the details of these newly added features that will transform financial institutions forever.


Customer Chargebacks and Transaction Disputes – The Challenges for Banking Sector

According to a recent study, Americans alone disputed a staggering $83 billion in charges last year, with the cost of handling these disputes rising by a significant 16% compared to 2022. These doubling figures are a serious concern for the banks as they cost a double resource and double timing, resulting in unsatisfactory customers and substantial losses of finance.

Amidst the challenges, AI comes as a beacon of hope. It elevates the capabilities of Einstein Copilot and Transaction Dispute Management accelerates manual tasks, mitigates errors, facilitates quick issue resolution, and improves customer communication.


How AI-Powered CRM Capabilities Will Help Banks Overcome Transaction Disputes Issues?

Before we explore how Salesforce is leveraging the power of AI to streamline transaction dispute management for banks, it is important to understand that to leverage the CRM solution you need to hire a Salesforce consulting partner.

We will tell you the reason why later in this post.

First, let’s delve into the innovative features of Salesforce Financial Services Cloud, specifically dedicated to Transaction Dispute Management and Einstein Copilot Banking Actions.

The new AI-powered CRM solution will help in boosting the efficiency and productivity of a service agent. It leverages:


AI-Powered Transaction Dispute Management

  • This feature will take care of the entire dispute management lifecycle starting from when the dispute is registered till it gets resolved. It also helps you establish complete transparency in the process and uninterrupted communication with stakeholders such as merchants, issuer banks, card networks, customers, etc.
  • Integrations with card networks enable seamless coordination with merchants. Agents can initiate communications within the platform, eliminating the need for manual outreach and streamlining the entire dispute-resolution process.
  • The platform offers pre-built email templates and the ability to draft personalized customer emails directly within the workflow. This ensures the bank agents’ timely communication with customers while maintaining a consistent brand voice.

Einstein Copilot Banking Actions

  • This feature takes customer service to a whole new level by introducing a powerful conversational AI assistant directly into the workflow. A bank service agent can seamlessly interact with a virtual teammate while initiating actions and personalizing customer services – all within a single platform.
  • Agents can ask questions and receive instant, trustworthy responses grounded in customer data. No more sifting through multiple systems – Einstein Copilot provides the information needed at their fingertips.
  • Need to initiate a fee reversal, issue a provisional credit, or pull up a customer’s transaction history? Simply ask Einstein Copilot! This automates time-consuming tasks, freeing up valuable agent time for personalized interactions.
  • All actions are taken within the secure confines of the Einstein Trust Layer. This ensures data governance and adherence to privacy and security standards, giving both banks and customers peace of mind.


Service Processes Library

  • It is a treasure trove of prebuilt service process templates designed to simplify common banking use cases, including transaction disputes, fee reversals, and, as in the case of lost credit cards, card replacements. These pre-built templates provide a clear roadmap for agents to follow, ensuring consistent and efficient service delivery.
  • By eliminating the need to build processes from scratch, banking agents can initiate actions and resolve issues quickly resulting in overall service satisfaction.
  • The Service Processes Library goes beyond just streamlining tasks; it empowers banks to build a culture of operational excellence. By providing a foundation for consistent, efficient service delivery, this innovative solution empowers banks to elevate customer satisfaction

How Data Cloud Allows Banks To Unlock And Unify Large-Scale Transaction Records?

Now, that we have understood the way the new capabilities empower Salesforce Financial Cloud, there’s one more thing that you need to understand, and it is about the role that Data Cloud plays in unlocking and unifying large-scale transactions and records and providing users with more accurate output.

There are some other unstructured data like policy documents, PDFs, or any other HTML docs that all require to be properly managed in a consolidated manner.  Here comes the Vector Database feature in Salesforce that enables business users to collect & manage data and offer a centralized view. It ultimately accelerates the transaction dispute resolution process.


Transaction Dispute Management System and Some Quick Facts

  • The new feature is powered by AI and is generally available for businesses.
  • The Einstein Copilot Banking Actions will come by the fall of 2024.
  • Services Processes Library is available with 19 processes for business users.
  • The Vector Database feature will come with Summer Release 24.
  • Data Cloud is also generally available.



The financial sector is poised for a transformation with Salesforce’s AI-powered CRM features.

These innovations, including Transaction Dispute Management and Einstein Copilot Banking Actions, empower banks to resolve disputes faster and enhance customer service.

However, to fully leverage these solutions, expert guidance is crucial. Salesforce Financial Cloud Implementation services can help you navigate the platform, optimize workflows, and ensure successful implementation.

By partnering with a FEXLE, Salesforce Gold Consulting Partner, you can unlock the true potential of AI-powered CRM and revolutionize your bank’s dispute resolution process, leading to happier customers and a more efficient operation.

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