Business
Barclays and FICO Win Credit Award for Excellence in Fraud Prevention
LONDON, July 10, 2025--Barclays Bank’s fraud team and global analytics software leader FICO have won a prestigious Credit Award for Excellence in Fraud Prevention. The award, presented in a gala event in Wales, recognizes Barclays’ use of an innovative solution from FICO and Jersey Telecom (JT) called Scam Signal to reduce card fraud losses & protect customers from the harm caused by social engineering scams. Barclays forecast a 6% reduction in card fraud as a result of the deployment, which ide
About this update from Fair Isaac Corporation
[{"type":"text","content":"Leading UK bank uses new Scam Signal solution to reduce card fraud and improve customer protection","length":98,"tagName":"p","attribs":{}},{"type":"text","content":"LONDON, July 10, 2025--(BUSINESS WIRE)--Barclays Bank’s fraud team and global analytics software leader FICO have won a prestigious Credit Award for Excellence in Fraud Prevention. The award, presented in a gala event in Wales, recognizes Barclays’ use of an innovative solution from FICO and Jersey Telecom (JT) called Scam Signal to reduce card fraud losses & protect customers from the harm caused by social engineering scams. Barclays forecast a 6% reduction in card fraud as a result of the deployment, which identified 9 social engineering victims on its first day.","length":575,"tagName":"p"},{"type":"text","content":"More information: https://www.fico.com/en/latest-thinking/solution-sheet/scam-signal-real-time-scam-detection-and-prevention","length":124,"tagName":"p"},{"type":"text","content":"UK Finance reported losses of £450 million in the UK last year from Authorised Push Payment Fraud, where consumers are tricked into authorising payments to scammers. "Barclays recognises how impactful this type of fraud is to our customers and have supplemented our existing fraud defences with the latest technology when we suspect customers are being socially engineered," said Nicola Winter, director of plastic fraud at Barclays Bank. "We will then intervene to ‘break the spell’ the fraudster casts. Whilst fraudsters target all segments of society it can be particularly harmful for vulnerable customers."","length":631,"tagName":"p"},{"type":"text","content":"Scam Signal, developed by FICO and Jersey Telecom in collaboration with the GSMA and UK Finance, uses real-time telephony data to detect potential scam activity. Scam Signal marks the first use of real-time telco data within Barclays’ analytical decisioning solutions.","length":268,"tagName":"p"},{"type":"text","content":"Scam Signal is accessed in real time by Barclays within FICO® Customer Communication Services, integrated via an API to the respective networks via JT. If intervention is warranted, FICO’s customer communications rules and decisioning capabilities are used to present customers with personalised, highly contextualised messages, delivered in the channel of customer choice, to break...