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21 SEPTEMBER 2018
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Thursday, 24 May 2018 16:17
Bank chats with customers to stop fraud
Challenger enables two-way 'conversation’ feature on app

Challenger bank Tandem has launched a new feature on its account aggregating app enabling users to confirm whether they are spending overseas or engaging in other potentially fraudulent activity.

The ‘Fraud Conversation’ is an interactive two-way chatbot feature that sends the user a push notification and flags potentially fraudulent activity via the interaction.

Spending overseas is one of a number of potentially fraudulent activities now flagged up by the app. Various aspects of user activity are measured to identify whether the person using the account in question is who they say they are.

The bank said in a statement: “While other banks would block transactions without notifying the customer, or jump right in with unsolicited calls, Tandem raises issues in a way that feels natural and unintrusive to its users.”

The feature was initially conceived by the bank’s 11,000 co-founders, who voiced their frustration at having their card blocked, or having to call their bank to explain that they are going on holiday. The ‘Fraud Conversation’ was developed by members from both of Tandem’s mobile teams, their mobile services team, and supported by their back end suppliers.

Tandem CTO Paul Clark commented: “Tandem’s goal has always been to make customers ‘life-rich’. This is why we’ve developed a new feature that allows people to easily identify instances of fraud and to spend overseas hassle free. While many banks employ these fraud rules, most do not offer a self resolution service, and certainly not a proactive one.”
 
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