FINBOA Inc., a leading provider of intelligent process automation for regulatory compliance in financial institutions, was selected as the “Tech of the Future” award winner in the 2024 PayTech Awards USA program. The 2024 PayTech Awards USA shine a spotlight on groundbreaking innovations and industry leaders that are shaping the future of payments. PayTech USA Awards describes the “Tech of the Future” honor as being awarded to a technology provider that is defining the future of payments; by demonstrating genuine innovation by using emerging technologies, practicing forward-thinking ideas and reimagining processes.
The FINBOA Payment Disputes solution has enabled over 225 U.S. banks and credit unions to digitize and automate payment disputes processing. As a compliance process automation tool, FINBOA’s solution assists financial institutions in meeting banking regulatory requirements; specifically concerning payment dispute processing (i.e. Reg E, Reg Z).
“The entire FINBOA team is honored to receive the PayTech USA Award highlighting technology that is defining the future of payments and reimagining dispute processing,” said Raj Singal, CEO and Founder of FINBOA. “The Tech of the Future award recognition underscores the unique value FINBOA Payment Disputes solution provides in transforming payment dispute management using workflow automation designed specifically around banking compliance requirements.”
FINBOA’s Payment Disputes solution provides an improved account holder experience in four key areas: digitizing dispute intake which reduces errors and improves accuracy; enabling remote intake of new dispute claims; improving account holder communication by providing more accurate dispute information; and automating account holder notification to help financial institutions meet regulatory requirements for communication in a timely manner.
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