Metro Bank launches AI-powered scam detection tool
The tool will allow customers to forward suspicious messages to the bank for verification. It aims to protect customers from falling victim to fraud or phishing scams. The AI technology can quickly analyze the messages and provide real-time feedback on their legitimacy. This partnership demonstrates the importance of leveraging technology to enhance security measures in the financial industry. Customers can now feel more confident in the safety of their banking transactions.
Metro Bank has launched an AI-powered scam detection service which will let customers send a WhatsApp message to check whether they are at risk from fraud. It says it has become the first UK bank to partner with award-winning AI scam detector Ask Silver.
Metro Bank Scam Checker on WhatsApp
The Metro Bank Scam Checker will be available on WhatsApp and will enable users to take a screenshot or photo of any email, webpage, letter, or leaflet that they believe to be suspicious and send it to scam checker. Using AI, the checker will then identify if the communication is fraudulent and provide suggestions and guidance on the next steps to take in order to stay safe.
The bank said it had launched the tool because of the increasing threat of fraud and scams, highlighting data from UK Finance which shows that more than £1 billion was lost to fraud, including scams, in 2023, with this type of offense accounting for more than four in 10 of all crimes in the UK.
Statement from Baz Thompson, Head of Fraud at Metro Bank
Baz Thompson, head of fraud at Metro Bank, said: “This new partnership with Ask Silver is a game-changer in protecting customers from fraud and helping to stop crime. We take the security of our customers very seriously and constantly review how we can help them fight fraud.
“Criminals often play on urgency and speed to trick people into parting ways with their hard-earned cash. Being able to offer a service where customers can know in minutes whether something is fraudulent provides an essential barrier to staying one step ahead of fraudsters.”
Ask Silver was founded by Alex Somervell and Jonny Pryn after Mr. Somervell’s relative was scammed out of £150,000 – most of their life savings.
Statement from Alex Somervell, Founder of Ask Silver
“We’re thrilled to join forces with Metro Bank to empower its customers in the fight against fraud and scams,” he said. “This partnership marks a pivotal step in safeguarding financial security, and we hope it’s just the beginning.
“We’re building the most human-focused anti-scam company, and partnering with customer-focused financial institutions like Metro Bank is core to that. We want to work together with banks, public institutions, and the public to keep our loved ones safe, as well as their hard-earned money.”