Quavo

Quavo, founded in 2016, operates as a fintech company providing automated fraud and dispute management solutions to financial institutions. The company was established by Joseph McLean, David Chmielewski, Daniel Penne, and Richard Jefferson, who drew upon their experience from building in-house dispute management systems at Bank of America. Their objective was to create a standardized solution for a process that many financial institutions were handling with internal, often inefficient, tools. The founders have extensive backgrounds in financial services and technology. McLean serves as CEO, Chmielewski as CPO, Penne as CFO, and Jefferson as an Executive Advisor, focusing on corporate development. Chmielewski, for instance, transitioned from a developer role, leveraging his deep knowledge in dispute resolution for credit card transactions and a Master's in Computer Science to co-found the company.

The company's primary clients are issuing financial institutions, including banks, credit unions, and fintech organizations. Quavo's business model is centered on its Software-as-a-Service (SaaS) platform, generating recurring revenue through its solutions. Initially offering on-premise installations, Quavo transitioned to a cloud-based model in 2020, a move that proved pivotal for its growth. The company's offerings are designed to automate the entire dispute lifecycle, ensuring compliance with regulations like Reg E and Reg Z, and reducing financial losses for their clients.

Quavo's product suite includes QFD™ (Quavo Fraud & Disputes), a comprehensive software platform that automates workflows from intake to resolution. A key feature is ARIA™ (Automated Reasonable Investigation Agent), an AI-powered tool that conducts investigations, differentiates between true and friendly fraud, and provides real-time decisions. This automation can handle approximately 80% of the manual tasks typically performed by clients. Additionally, the company offers Dispute Resolution Experts™ (DRE), a service where Quavo's analysts manage back-office investigation tasks for clients who wish to outsource this function. This combination of software and service, branded as "Disputes as a Service™", allows clients to scale their operations, reduce write-offs by an average of 37%, and improve customer satisfaction through faster resolutions.

Keywords: dispute management, fraud detection, chargeback automation, financial technology, Reg E compliance, Reg Z compliance, SaaS for banks, fintech solutions, automated investigation, back-office support, transaction disputes, issuing financial institutions, payment fraud, customer dispute resolution, AI in finance, cloud-based financial software, QFD, ARIA, Dispute Resolution Experts, risk management