DCB Bank Aims To Streamline Complaint Redressal With NPST’s Online Dispute Resolution

Banking and payment services provider Network People Services Technologies Ltd. said on Thursday that it has secured a contract for its online dispute resolution solution from DCB Bank Ltd.

The bank will implement ODR, aiming to streamline customer complaint redressal, enhance efficiency and rationalise operational and compliance costs.

In the current payments ecosystem, marked by multiple digital channels and growing transaction volumes, efficient dispute management processes are an integral component of payment processing capabilities. Transactional disputes, including failed or pending payments, can significantly impact customer perceptions of service quality and overall lifetime .

Also, with recent regulatory directives from the Reserve Bank of India tightening timelines for dispute resolution, the pressure on banks to deliver swift resolutions for customer complaints has increased.

NPST said that ODR allows prompt remediation of transactional disputes and customer complaints, which will enable DCB Bank to improve customer service and transparency. ODR integrates different customer transactional channels, including mobile banking, internet banking, IMPS, UPI, NEFT and RTGS, providing a centralised system to monitor and address customer disputes. It also manages the dispute life cycle, helping handle issues such as missing or delayed payments and credits.

The solution ingests complaints from the customer’s preferred channel and provides real-time visibility into dispute status through dashboards, alerts and an audit trail, NPST said. A low-code platform will allow DCB Bank to swiftly update dispute management workflows and incorporate changes in regulatory mandates, encouraging compliance.

“NPST’s Online Dispute Resolution (ODR) solution aligns with DCB Bank’s customer-centric ethos, ensuring safe and secure payments while fostering loyalty-building interactions and driving productivity and cost savings,” said Deepak Chand Thakur, co-founder and chief executive officer at NPST.

DCB Bank can enhance productivity, reduce financial losses and regulatory risks, and improve operational excellence and efficiency through ODR deployment, according to NPST.