Investment of $25M in Casap's Series A to Transform Payment Disputes Using Artificial Intelligence and Eradicate Initial Party Fraud Losses
New York-Based Technology Company Casap Revolutionizes Fraud Prevention in Financial Services
Casap, a New York-based technology company, is making waves in the financial services industry by introducing an AI-powered platform that systematically addresses first-party fraud and streamlines dispute management [1][5]. The company's innovative solution is already in use by a growing number of credit unions, banks, and fintechs.
Casap's platform automates the entire payment dispute lifecycle, from intake and evidence analysis to outcome prediction, chargeback filing, and customer communication [1][3][4]. This transformation of a traditionally fragmented, manual, and slow process into an efficient, AI-driven workflow has been well-received by financial institutions.
One of Casap's key achievements is its ability to proactively identify suspicious consumers and merchants using a proprietary fraud scoring system, similar to a "FICO score" for first-party fraud [4][1]. This proactive approach has resulted in significant reductions in fraud losses for institutions like Chartway FCU and MidSouth Community FCU, with reports of over 51% reduction [1][3].
Financial institutions benefit from various advantages with Casap's platform. These include faster dispute resolution times, improved consumer experience and trust, operational efficiency, cost savings, and scalability [2][4]. By providing transparency and smoother dispute handling, Casap turns a traditionally frustrating moment into a driver for loyalty and competitive advantage.
Casap's platform is not limited to first-party fraud management. It is expanding to manage other post-transaction workflows, supported by its recent $25 million Series A funding led by Emergence Capital [1][5]. This funding will be used to support key hiring and continue executing on Casap's vision of eliminating friction across the payments lifecycle.
Rob Keatts, Chief Strategy Officer at Chartway FCU, considers Casap the most meaningful operational upgrade to their claims process in decades. Casap's AI agents handle the full dispute lifecycle, from intake to chargeback filing and member communication. This has allowed institutions to deliver a great member experience while keeping fraud losses in check.
Emergence Capital views Casap as a transformational infrastructure play in the financial services industry. Shanthi Shanmugam, Co-founder and CEO of Casap, believes Casap delivers stronger consumer retention, fewer losses, and no regulatory missteps for financial institutions. Carlotta Siniscalco, Partner at Emergence Capital, believes Casap turns disputes into an opportunity to earn trust.
In essence, Casap offers financial institutions an integrated AI solution that reduces fraud and dispute friction, improves operational performance, and enhances customer satisfaction within the post-transaction payments lifecycle [1][4][5]. With its innovative approach and proven results, Casap is set to redefine how financial institutions operate payments, turning fraud and inefficiency from everyday realities into rare exceptions.
References:
- Casap Raises $25M Series A Funding to Expand First-Party Fraud Scoring and AI Decisioning
- Casap's AI-Powered Platform Revolutionizes Dispute Management and Fraud Prevention in Financial Services
- Casap's AI Solution Reduces Fraud Losses by Over 51% for Financial Institutions
- How Casap's AI-Powered Platform is Transforming Dispute Management and Fraud Prevention in Financial Services
- Casap: The First Company to Systematically Solve First-Party Fraud in the Financial Services Industry
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