Payment dispute resolution receives a $25M Series A investment due to AI implementation, aiming to annihilate first-party fraud losses.
Revolutionizing Dispute and Fraud Operations: Casap's AI-Powered Platform
Casap, an innovative AI-powered intelligent automation platform, is making waves in the financial industry by revolutionizing dispute and fraud operations, particularly focusing on the problematic area of first-party fraud and payment disputes.
Designed specifically for the financial sector, Casap's platform automates the entire dispute resolution process, from intake to evidence analysis, outcome prediction, automatic chargeback filing, and customer communication. This transformation eliminates the need for manual, fragmented workflows, operating at scale with speed and precision.
The platform's AI-native infrastructure provides consumers with DoorDash-style visibility into the dispute process, while equipping financial institutions with faster and smarter tools to manage risk and compliance requirements like Reg E. Casap's proprietary fraud scoring identifies suspicious consumers and merchants early, proactively reducing fraud and disputes.
Casap's impact has been significant. It has resulted in up to a 51% reduction in first-party fraud losses, over 50% faster processing times for dispute cases, the ability to handle 4-5 times more fraud volume without increasing staffing, and improved member satisfaction through greater transparency and self-service features.
The platform is gaining traction among credit unions, banks, and fintechs aiming to modernize their dispute processes and cut fraud-related losses. Casap recently secured $25 million in Series A funding led by Emergence Capital to enhance its AI decisioning and expand further across payment lifecycle workflows.
Emergence Capital, a leading investor, views Casap as a transformational infrastructure play. The funding will accelerate the development of Casap's first-party fraud scoring and AI decisioning. Casap aims to redefine how financial institutions operate payments, turning fraud and inefficiency into rare exceptions.
Casap's AI agents handle the full dispute lifecycle from intake to chargeback filing and member communication in one system. The funding signifies a surge in demand from financial institutions for Casap's services to streamline dispute resolution and reduce fraud losses.
Financial institutions benefit from real-time decisions, predictive win scores, and self-service experiences that build trust. Institutions like Chartway FCU and MidSouth Community FCU have seen real impact from Casap's platform, with over 51% reduction in fraud losses, positive ROI in weeks, and scaled case volume without additional headcount.
Shanthi Shanmugam, Co-founder and CEO of Casap, states that Casap delivers stronger consumer retention, fewer losses, and no regulatory missteps for financial institutions. Casap's AI-powered platform is already in use by a fast-growing base of credit unions, banks, and fintechs.
Looking ahead, Casap plans to expand its services beyond first-party fraud management. The platform's intelligent analysis, outcome prediction, and automation capabilities make it a valuable tool for managing other post-transaction workflows. As Carlotta Siniscalco, Partner at Emergence Capital, puts it, Casap turns disputes into an opportunity to earn trust.
- Leveraging artificial-intelligence, Casap's AI-powered platform seeks to extend its services beyond first-party fraud management, aiming to revolutionize other post-transaction workflows in the finance business.
- Financial institutions investing in Casap's services gain a competitive edge by streamlining dispute resolution processes, reducing fraud losses, and offering enhanced self-service features that foster trust.
- By automating the entire financial dispute resolution process, Casap positions itself as a transformational infrastructure player in the finance sector, ensuring compliance with regulatory requirements like Reg E.
