This episode was recorded at the Money 20/20 event in 2019. On this episode, PaymentsJournal’s editor-in-chief, Ryan McEndarfer, sat down with Aaron Lazor, co-founder and CEO of Finscend, and Moshe Teren, co-founder and CTO of Finscend. PaymentsJournalThe Pain Points of Credit Card Disputes: A Conversation with FinscendPaymentsJournal The Pain Points of Credit Card Disputes: A Conversation with FinscendPaymentsJournaljQuery(document).ready(function ($){var settings_ap41222800 = { design_skin: "skin-wave" ,autoplay: "off",disable_volume:"default" ,loop:"off" ,cue: "on" ,embedded: "off" ,preload_method:"metadata" ,design_animateplaypause:"off" ,skinwave_dynamicwaves:"off" ,skinwave_enableSpectrum:"off" ,skinwave_enableReflect:"on",settings_backup_type:"full",playfrom:"default",soundcloud_apikey:"" ,skinwave_comments_enable:"off",settings_php_handler:window.ajaxurl,skinwave_wave_mode:"canvas",pcm_data_try_to_generate: "on","pcm_notice": "off","notice_no_media": "on",design_color_bg: "111111",design_color_highlight: "ef6b13",skinwave_wave_mode_canvas_waves_number: "3",skinwave_wave_mode_canvas_waves_padding: "1",skinwave_wave_mode_canvas_reflection_size: "0.25",skinwave_comments_playerid:"41222800",php_retriever:"https://www.paymentsjournal.com/wp-content/plugins/dzs-zoomsounds/soundcloudretriever.php" }; try{ dzsap_init(".ap_idx_84369_2",settings_ap41222800); }catch(err){ console.warn("cannot init player", err); } }); Ryan Mac: Welcome to the PaymentsJournal podcast. I’m your host Ryan Mac and in today’s episode, we’re going to be taking a look at credit card disputes during a conversation that I had with Aaron Lazor who is the co-founder and CEO of Finscend and Moshe Teren, co-founder and CTO of Finscend, during Money 2020. Now there’s certainly a lot to unpack during this episode, so without any further delay, let’s start the show. Aaron and Moshe thank you so much for joining me on today’s episode. So to start off, what is Finscend’s key to technology? Lazor: Thanks, Ryan. Good to be here as well, Finscend’s technology, in a nutshell, is taking the arduous task that banks and credit card issuers have today of onboarding the information from a client for a credit card holder, just like any of us, and taking a process today, that could take banks up to three hours— these are industry statistics that we’ve seen—and condenses that down to just a few minutes. And on the consumer side, as a digital age that we’re in today, I expect to be able to make a digital payment by tap on pay within just a few seconds. I shouldn’t have to go through a whole, you know, long process with my credit card issuer to get resolution on any type of dispute that I would have. So we use sophisticated technologies, we’re using NLP, natural language processing, to understand the specifics of the case and whether or not it’s authentic. And then we couple that with artificial intelligence to explore the merits of the case based on the guidelines of the card networks. The cardholder enters this information into a very straightforward mobile based or laptop based onboarding tool, just very simple information, questions and answers, uploading some documents that tell the application, our software, what is the merits of the case. The technology behind the scenes is using, as I said, NLP and artificial intelligence to look at the merits of the case and determine whether or not there is cause for a chargeback. And if so, it also produces a score—a score from one to 100—that gives the banks the information that they need to process this dispute.