Straight-through processing
The straight-through processing (STP) feature transforms how banks and financial institutions handle payment disputes by automating claim resolution processes. In the banking sector, where efficient dispute management directly impacts customer experience and operational costs, STP represents a critical advancement in claims processing.
Pega Smart Dispute™ Agentic Automation uses STP to enable banks to process disputes with minimal human intervention. Straight-through processing streamlines operations by automating the submission of chargebacks directly to appropriate card networks through multiple channels, while maintaining regulatory compliance.
How straight-through processing works
Straight-through processing in Pega Smart Dispute Agentic Automation functions through a logical decision framework that evaluates dispute eligibility against predefined criteria.
When a customer initiates a dispute claim, the application automatically evaluates the eligibility, routes appropriately, processes qualifying claims, and documents actions. The system applies logical decisioning to determine whether a dispute qualifies for automatic processing. Based on the evaluation, the system directs the claim through the optimal processing path--either automated or requiring human intervention. For eligible claims, the system automatically submits chargebacks to the appropriate payment network without requiring manual intervention. Each step in the process is documented with audit entries, maintaining a clear record for compliance and tracking purposes.
The video below shows a claim submission through STP:
The video below shows a claim submission through STP in web self-service (WSS) scenario:
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