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April 13, 2017

The pros and cons of verifying payments with risk operation analysts

The pros and cons of verifying payments with risk operation analysts
Pros & Cons Description
Pros The advantage of payment verifications carried out by risk operation analysts is that they are inexpensive to set up since a CRM, a phone, and an email client are sufficient to get started.

Another advantage of reviewers is that they are able to make analogies by pooling knowledge from diverse sources, thereby relating distant concepts with the case they are reviewing.
Cons Payment verifications have several obvious disadvantages:
  1. the poor scalability in terms of languages and time shifts;
  2. the negative impact on client’s satisfaction;
  3. the additional delays, while the payment is queued and waiting to be reviewed; and
  4. the added risk caused by the additional delays and manual data entries, which may have errors.
Less obviously, the decisions made by reviewers lack calibration, e.g., they may not distinguish between percent differences such as 0.4% and 1.2%, but 1.2% is three times more than 0.4%.

References