Scam Signal Solution from FICO and Jersey Telecom Wins Anti-Fraud Award

Business Wire11-20 17:00

FICO® Customer Communications Service Scam Signal wins award at Credit & Collections Technology Awards; solution uses telephony signals to spot scams LONDON, November 20, 2024--(BUSINESS WIRE)--(...

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solution uses telephony signals to spot scams\nLONDON, November 20, 2024--(BUSINESS WIRE)--(...</p>\n\n<a href=\"https://finance.yahoo.com/news/scam-signal-solution-fico-jersey-090000528.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GRO","symbol_name":"Brazil Potash Corp.","start_time":0,"source_url":"https://finance.yahoo.com/news/scam-signal-solution-fico-jersey-090000528.html","article_id":"2484161499","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/hZ6i0UQrPDEGxCkqWmIkaQ--~B/aD02NDM7dz0xODAwO2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/business-wire.com/ec8ab80f1d0d2e1c12f6723b16f6b3c2"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2484161499","pubTimestamp":1732093200,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"FICO Customer Communications Service Scam Signal wins award at Credit & Collections Technology Awards; solution uses telephony signals to spot scams. LONDON, November 20, 2024---- – A new solution from global analytics leader FICO and Jersey Telecom  received the Best Anti-Fraud Solution award at the Credit & Collections Technology Awards on November 7 in Manchester. The FICO Customer Communications Service Scam Signal solution uniquely uses telephony signals to detect potential scams. The solution, which is available in the UK and soon to launch in Spain, also won silver in the Datos Insights awards earlier this year.Scam Signal is the first real-time application of telephony data being used with customer and payment data to tackle the issue of authorised push payment  fraud, where consumers are tricked into authorising payments from their accounts to scammers. 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The FICO® Customer Communications Service Scam Signal solution uniquely uses telephony signals to detect potential scams. The solution, which is available in the UK and soon to launch in Spain, also won silver in the Datos Insights awards earlier this year.\nScam Signal is the first real-time application of telephony data being used with customer and payment data to tackle the issue of authorised push payment (APP) fraud, where consumers are tricked into authorising payments from their accounts to scammers. It is the only solution that provides an integrated approach, seamlessly connecting telephony data with fraud decision making and prevention. This enables direct, near real-time customer intervention to determine if a payment should proceed.\n\"With APP fraud causing £460 million in reported losses in the UK in 2023 and new regulations mandating reimbursements, the need for banks to adopt preventative solutions is more urgent than ever,\" ’said Clare Messenger, Head of Mobile Intelligence Solutions at JT. \"This technology is a breakthrough in fraud prevention, using telephony signals to detect subtle signs of fraud at its source. This means banks and other organisations can take proactive measures to prevent financial loss. ’We are delighted that the solution has been recognised and hope it contributes to reducing fraud statistics as banks across the UK use it to protect their customers.\"\nScam Signal uses advanced analysis of real-time network data together with customer and payment data, during live transactions, to effectively detect and mitigate social engineering attempts aimed at deceiving and defrauding account holders. The solution can incorporate this data across 2G, 3G, 4G, 5G Volte and Wi-Fi calling for multiple mobile network operators and is currently being extended to support UK landlines.\nResults from banks using the solution include:\n\nReduced the number of people scammed by 41%.\nDecreased fraud losses from scams by 44%.\nLowered false positives (payments flagged as fraud that are in fact genuine) by 55%.\n\n\"Stopping any kind of scam or fraud requires a real-time response,\" said Matt Cox, vice president and general manager of FICO in EMEA. \"Working with JT, we have integrated Scam Signal with our omni-channel communications solution so that banks can easily interact directly with their customers to provide warnings and guidance that can prevent them from sending a payment to a fraudster, reducing the number of people who fall victim to scams.\"\nAbout the Credit & Collections Technology Awards\nThe Credit & Collections Technology Awards recognize excellence and innovation in the UK credit and collections industry. These prestigious Awards are judged by an independent panel of industry experts.\nThe full list of winners is at https://awards.credit-connect.co.uk/awards-winners.\nAbout Jersey Telecom\nJersey Telecom (JT) has evolved from a government-owned telecom entity into a successful global tech company, offering innovative connectivity, mobile intelligence, and business solutions. With over 135 years of history and headquartered in the British Channel Islands, JT employs over 500 people worldwide. In 2018, JT became the first telco to provide fibre-to-the-home for all broadband users. In 2023, JT began upgrading this network using Ericsson’s energy-efficient technologies to launch 5G, in that same year JT acquired Spectrum Message Services, expanding their Mobile Intelligence services, which now provides secure transaction alerts to over 135 million customers globally.\nLearn more at JT International | JT International (jtglobal.com)\nAbout FICO\nFICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 80 countries do everything from protecting 4 billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO® Score, used by 90% of top US lenders, is the standard measure of consumer credit risk in the US and has been made available in over 40 other countries, improving risk management, credit access and transparency.\nLearn more at https://www.fico.com\nFICO is a registered trademark of Fair Isaac Corporation in the U.S. and other countries.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20241120233978/en/\nContacts\nFICO UK PR Team Wendy Harrison/Parm Heerficoteam@harrisonsadler.com 0208 977 9132","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2484161499"}