MADISON, WI (February 18, 2025) |
CUNA Strategic Services is pleased to announce its new alliance with Casap, a copilot and collaboration platform to automate disputes, reduce fraud loss, and create loyalty building opportunities. Casap uses AI to help credit unions mitigate first-party fraud in a compliant and staff and member-centric manner.
“CUNA Strategic Services is proud to launch our relationship with Casap. With first-party fraud events on the rise, and losses associated with those events in the financial services industry estimated at over $100 billion this year, credit unions need assistance tackling fraud and bringing relief to their overburdened resources,” said Barb Lowman, President, CUNA Strategic Services. “With Casap’s AI-driven technology, not only can credit unions mitigate fraud losses, but they can do so while streamlining and automating dispute processing, which in turn decreases time to resolution and improves member satisfaction. It's a win-win scenario for the credit union and their member!"
Financial institutions are under immense pressure to resolve the 238 million chargebacks that emerge annually, most of which take 45-90 days to resolve. First party fraud has consistently risen year over year since COVID, with more consumers disputing legitimate charges to avoid payment. This surge, combined with a growing tendency to file disputes directly with payment providers instead of merchants, has led to overwhelming volumes and substantial financial losses. Institutions are forced to hire large teams, navigate complex regulations, and outsource chargebacks yet still struggle to meet consumer expectations.
"The surge in first-party fraud and dispute volumes are overwhelming financial institutions," said Shanthi Shanmugam, co-founder and CEO of Casap. "Our platform helps credit unions meet these challenges head-on with intelligent automation that delivers fast, frictionless dispute resolution at a fraction of today's cost. By empowering institutions to identify fraudulent claims early and resolve legitimate cases swiftly, Casap is transforming what is often a frustrating customer service experience into an opportunity to build consumer loyalty."
Casap's AI-powered automations and proprietary "first-party fraud score," similar to an industry-standard FICO score, combine to resolve a dispute end-to-end without human intervention. The platform intelligently analyzes evidence, predicts outcomes, and automates key actions – such as issuing credits, filing chargebacks, and responding to
merchants – while using its fraud score to identify suspicious consumers and merchants to proactively reduce disputes.
Casap's chargeback model, the first of its kind, includes publicly available weights— putting Casap at the forefront of innovation and sets a new standard for transparency in the industry. With built-in regulatory expertise and key integrations, Casap's advanced AI and decisioning capabilities cut resolution times from days to minutes, driving significant cost savings and enhancing operational efficiency for financial institutions.
For more information, visit Casap’s provider page.