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Questions and Answers
What is the primary purpose of this Standard Operating Procedure (SOP) for transaction research?
What is the primary purpose of this Standard Operating Procedure (SOP) for transaction research?
The primary purpose is to provide consistent and effective customer service solutions for handling consumer disputes and inquiries.
What is included in the SIPOC section of the document?
What is included in the SIPOC section of the document?
The SIPOC section includes Suppliers, Inputs, Process, Outputs, and Customers relevant to the transaction research.
Why is an escalation matrix important in the context of dispute resolution?
Why is an escalation matrix important in the context of dispute resolution?
An escalation matrix is important as it outlines the steps to escalate issues that require higher management intervention.
What is meant by 'Transaction Research – Dispute/Queries/Assistance'?
What is meant by 'Transaction Research – Dispute/Queries/Assistance'?
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What information does the Document Change History section provide?
What information does the Document Change History section provide?
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What is the primary goal of transaction research in business operations?
What is the primary goal of transaction research in business operations?
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Who is the Process Owner/Approver for the Customer Service Solutions process?
Who is the Process Owner/Approver for the Customer Service Solutions process?
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What type of data is typically examined in transaction research?
What type of data is typically examined in transaction research?
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What is the purpose of the Document Change History in the provided process documentation?
What is the purpose of the Document Change History in the provided process documentation?
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In what ways can transaction research assist in handling disputes?
In what ways can transaction research assist in handling disputes?
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Study Notes
Dispute - Transaction Research (Consumer) Standard Operating Procedure (SOP)
- Effective date: September 2024
- Service Catalog #: XXXXXX
- Purpose/Objective: Provide consistent and effective customer service for Consumer requests & inquiries related to Disputes and Litigations, handled efficiently.
- Scope: Applies to all customer service representatives and support staff.
- Responsibilities:
- Front Office: Executes procedures, provides prompt service, resolves customer issues.
- Risk & Compliance Team: Verifies documentation, prevents fraud.
- Engineering Team: Ensures system functionality, assists with technical research.
- MA (Mobile Application): Addresses system changes/technical research.
- SIPOC (Supplier, Inputs, Process, Output & Customers): (Detailed description not provided)
- High-Level Process Map: (Detailed description not provided)
- Service Types/Descriptions:
- Transaction Research: Systematic study and analysis of business transactions (e.g., purchases, sales, contracts) to improve efficiency, accuracy and effectiveness.
- Business Process & Business Owners: (Detailed information regarding Business Owners not provided)
- Document Change History & Version Control: (Table of Version Numbers and Dates not provided)
- System Involved & Main Source of Inputs: (List of systems, URLs, and file format description not provided)
- Escalation Matrix: (Table outlining escalation procedures not provided).
- Associated Procedures: (Detailed procedure description not provided)
- Acronyms & Definitions: (List of acronyms with definitions provided)
- Appendix: (List of items/ attachments/ links are listed but details are not provided).
- Transactional Research – Dispute/Queries/Assistance: Detailed procedures to handle disputes.
- Receive and Understand: Methods of receiving requests.
- Direct personal support
- Live Chat/ Virtual BOT
- Interactive Voice Response (IVR)
- Diagnostics: Information collection to resolve consumer questions/disputes.
- Reviewing Account Status, documentation, and related details.
- Engage the customer for information required.
- Collect Required Information: Details of dispute, transaction date, amount, consumer details, and reason for dispute. Support documentation required (receipts, statement, or screenshots).
- Verify Documentation: Checking completeness and accuracy of submitted information.
- Contact Consumer: If necessary.
- Notify: Ticket assignment for further processing; Assign tickets and update status.
- Assessment of Request: Review of request details, ensure completeness, and verify if information meets all criteria.
- Approval by Compliance (RM): Ensures proper documentation and approval process.
- Recommendations: Risk management and determination of actions.
- Notify: Assigning tickets to engineering team and updating statuses for further processing. -Changing ticket statuses.
- Resolve: Immediate solution for disputes, steps for dispute resolution.
- Final Review: Analyzing root causes of disputes.
- Record Keeping & Feedback Review: Maintaining records of disputes.
- Receive and Understand: Methods of receiving requests.
- Escalation Matrix (partial): Table outlines escalation procedures.
- Associated Procedures: (Procedural details not shown)
- Acronyms & Definitions: List of acronyms and their meaning.
- Appendix: (Content concerning links/attachments/etc is provided).
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Description
This quiz covers the Standard Operating Procedure (SOP) for handling consumer dispute transactions effectively. It outlines the roles of different teams, including Front Office, Risk & Compliance, and Engineering, in providing consistent customer service. Test your knowledge on the responsibilities and processes involved in transaction research related to disputes and litigations.
