FICO® and JT’s Customer Communications Service Scam Signal takes Silver Medal in the Fraud Impact Award for Best Scam and APP Fraud Prevention

BOZEMAN, MT – 20 August, 2024 – FICO (NYSE: FICO)

In the fight against the growing problem of scams, FICO and Jersey Telecom (JT) have produced a powerful solution, which has won an award from Datos Insights, a global advisory firm providing mission-critical insights on technology, regulations, strategy, and operations to the financial services industry. Datos Insights recognized FICO and JT as the winners of the Silver Medal in the Fraud Impact Award for Best Scam and APP (Authorized Push Payment) Fraud Prevention solution. The FICO® Customer Communications Service Scam Signal is now also available in the UK and Spain, with plans to expand to additional markets.

More information: https://datos-insights.com/resources/awards/fraud-aml/

FICO and JT worked with leading UK banks to identify the most relevant telephony signals that indicate an active scam. The FICO Customer Communications Service Scam Signal is the first real-time application of telephony data being used with customer and payment data to tackle the issue of Authorized Push Payment (APP) fraud, where consumers are tricked into making authorized payments to scammers. It enables direct, near real-time intervention with the customer to determine if a payment should proceed.

“This Scam Signal product addresses a significant and growing problem,’’ said Clare Messenger, Head of Mobile Intelligence Solutions at JT. “Authorized Push Payment fraud continues to grow globally and in the UK market losses reported in 2023 reached £460 million.”

To build this solution, JT worked with the GSMA (Global System for Mobile Communications) and the UK Mobile Network Operators to access various mobile network insights within a privacy compliant framework that protects personal data. FICO’s analysis found strong correlations between a customer’s mobile phone behavior and the likelihood that a scam is taking place. For example, a customer may be actively coached through security or manipulated by a fraudster into making a payment during a mobile phone conversation.

The Scam 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 Scam Signal can incorporate this data from across 2G, 3G, 4G, 5G Volte and Wi-Fi calling for multiple mobile network operators and is currently being extended to support UK landlines.

“The integration of Scam Signal within FICO Customer Communications Service allows banks to present customers with personalised, omni-channel and highly contextualized messages that break the scammer’s spell for high-risk activities,” said Adam Davies, vice president of product management at FICO. These messages can be built into conversation ‘flows’ that respond in real-time to the actions the customer takes. For example, if a customer hesitates or looks to progress a payment, additional messages can be sent, and different options offered, such as suggesting delaying the payment or offering to speak to a fraud prevention specialist.”

Major high street banks in the UK are implementing the product, with the first one to pilot it reporting that they reduced the number of people scammed by 41%, decreased fraud losses from scams by 44% and lowered false positives (payments flagged as fraud that are in fact genuine) by 55%.

FICO Chief Analytics Officer Dr. Scott Zoldi will discuss “Responsible AI: Unleashing the Power of AI for Risk Mitigation in an Ethical Manner” in a fireside chat with Julie Conroy of Datos Insights at the company’s Financial Crime and Cybersecurity Forum in Charlotte, NC, on August 27.

About the Datos Insights Awards

Datos Insights’ annual awards program, Fraud & AML Impact Awards, recognizes innovations leading the industry and pioneering new and disruptive financial crime products and capabilities.

The Datos Insights award winners and finalists were selected based on the following criteria, which were considered when scoring each entry:

• Level of innovation
• Competitive advantage
• Market need
• Financial crime risk mitigation
• Impact on customer experience and operational efficiency
• Integration and scalability
• Future roadmap

“Organized crime is relentlessly bombarding society with scams, automated bots, synthetic identities, mule activity, and application fraud,” said Chuck Subrt, Fraud & AML Practice Director at Datos Insights. “The financial services industry is doubling down on innovation, automation, and data to tackle this confluence of challenges and risks.”

JT has become a GSMA Open Gateway Channel Partner. This prestigious partnership recognises JT’s position as a global leader in fraud and identity solutions and fully supports GSMA’s efforts in combating global fraud and cybercrime.

The GSMA Open Gateway initiative represents a significant shift in the telecoms industry, for the first-time enabling app developers to access global mobile operator networks through standardised network Application Programmable Interfaces (APIs). What’s unique about this framework is it simplifies service integration, which reduces development costs and complexity, spurring innovation.

The initiative benefits the entire mobile ecosystem by providing a single point of access to the world’s largest connectivity platform. With 28 published network APIs, including SIM Swap and Number Verification, it facilitates quicker service deployment across operator networks.

Henry Calvert, Head of Networks at GSMA, said: “GSMA Open Gateway is a framework of common network APIs that provides developers with universal access to operator networks. Supported by mobile network operators representing two-thirds of the global market, it allows developers to enhance and deploy services swiftly across these networks via single access points to the world’s largest connectivity platform. This framework marks a significant milestone in global mobile identity verification, equipping businesses with advanced tools to boost security, reduce fraud, and enhance user experience in accordance with the GSMA’s global Open Gateway initiative.’’

For businesses, The GSMA Open Gateway means faster time-to-market for new services, simpler global deployment, and reduced operational costs, enhancing their return on investment. And for mobile network operators, it opens new revenue streams by monetising network data.

Clare Messenger, Head of Mobile Intelligence at JT, said: JT’s involvement as a GSMA Open Gateway Channel Partner highlights our dedication to innovation and excellence in the telecoms industry. This partnership will enable us to deliver advanced solutions, driving global progress in fraud prevention and identity management. Additionally, it allows us to extend our leading Mobile Intelligence solutions to more organisations and developers.

This unified ecosystem will unlock the full potential of 5G networks, enabling businesses to launch innovative services that fully maximise the benefits of these networks.

The work that JT has done to improve inclusivity has been recognised by a leading organisation that promotes diverse teams and inclusive cultures in businesses all over the UK and across all sectors. JT has won a TIDE Bronze award for reaching the exacting standards set by the Employers Network for Equality and Inclusion.

TIDE (Talent, Inclusion and Diversity Evaluation) benchmarks and measures JT’s approach and progress against a robust framework. In the last twelve months JT’s TIDE score has jumped to 61% after making significant improvements to training and development and putting diversity and inclusion at the centre of its workplace culture.

Nicola Reeves, Group HR Director, said: “We got involved in the TIDE awards because we wanted to benchmark ourselves and set recognised targets so that we could truly make our workplace as inclusive as possible. Our people are critical to our success and deserve to work in a culture where everyone feels valued, empowered and inspired. Having respect for each other is a central part of what we do as an organisation, and our people feel encouraged to innovate and improve because they are listened to when they speak up.”

Being part of the TIDE process is about making continual improvements and JT will participate again next year to check on progress.

Sarah Gosiewska, JT Head of Talent, added: ‘’We have put a great deal of energy into improving our training across the business, and I am delighted that it was recognised as being one of the areas that had improved in 2022, which is thanks to the amazing people we have here – there is always more to do, but we are united in our longterm goals.”

JT has announced changes to its Executive Committee as the company moves forward with its ambitious strategy to transform and grow the business.

Katie Corbett is taking up a newly created role as Chief Commercial Officer, with Tom Noel moving to become JT’s Chief Product Officer, having spent two years as the Director of Corporate Affairs & Sustainability. Together they will ensure that customer experience and innovation is at the forefront of JT’s business, supporting  delivery of the transformational and growth strategy.

Following his appointment in April, Daragh McDermott, JT Group’s CEO, worked with the JT Board to review the structure of the Executive Committee and then went through a thorough process before deciding to appoint Katie and Tom to their new roles.

Daragh McDermott, CEO of JT Group, said: “There are a lot of benefits to taking a step back and carrying out a thorough health check of the team that lead the execution of the company’s strategy and with the support of the new Chair, Meriel Lenfestey, and the JT Board, this was the opportunity to do just that. Our strategy is the right one for our customers and our other wide set of stakeholders, and this has not changed. But we also have an ever changing set of challenges to manage, as we transform and grow, and the appointments of Katie and Tom to these new roles will ensure  greater freedom to drive our business forward with innovative new products and a focus on providing the very best service to our customers.”

Katie, has over 25 years’ experience in the telecommunications industry, beginning her career at JT in 2010 in the Corporate Sales Team. She will focus on commercial excellence, managing the commercial activities for all JT client engagement globally.

Katie Corbett said: “The hundreds of people that make up JT have faced extraordinary challenges over the last couple of years and along with so many other professionals, have worked extremely hard to overcome them. As a business, we are constantly reviewing how we manage our core activities and our people, and I believe the changes we are announcing will give many of them new opportunities to develop their careers and take this fantastic company forward. ”

Tom takes charge of the teams developing JT’s product range, and will also take on responsibility for growing JT’s Fraud Protection Services (FPS) business. Joining JT in 2015, he oversaw the newly formed JT International division and built up the IoT business which sold last year at a valuation of £200m.

Tom Noel added: “Our strategy to serve and give back to our communities hasn’t changed, but our leadership needs the tools to improve and progress. JT has seen many changes throughout its long history and while we are moving through these challenging times, customers expect us to adapt to changing economic and political landscapes, and to do so quickly. The plans we put in place over the coming months,  will ensure we continue to serve our customers, our people and our business well into the future.’’

Channel Islands telecom company JT has been named on a national stage as Innovation Partner of the Year by Mitel, a global market leader in business communications services.

JT was chosen as Innovation Partner of the Year ahead of many other UK & Ireland leading businesses after not only setting up its own state-of-the-art Mitel Contact centre but also for completing a world-class, multi-dimensional and complex migration process of IT systems for the Government of Guernsey. The accolade has further strengthened JT’s reputation as a leading telecoms company, achieving the ultimate recognition within Mitel’s award-winning partner programme.

JT achieved Mitel’s highest level of accreditation two years ago, when it was awarded Platinum Partner status, a partner level that is only given to a select few. JT is the only technology company in the Channel Islands that has been granted that status.

Rob King, IT and Facilities Manager, Healthspan, said: “We take 3,000 calls a day, and there was absolutely no downtime in terms of those phones ringing from one day being in the office to the next when those agents were working from home. We had the backup of JT’s people to help us and be on hand at that changeover to answer any questions. Most of our staff are still working from home and want to continue to do so and I think if the technology or functionality wasn’t right there certainly wouldn’t be that high percentage of staff wanting to do that.”

JT also worked with Mitel to update the Government of Jersey’s communications systems and enabled leading online supplements business, Healthspan, to move its call centre agents from the office to their homes without interruption to their services.

Daragh McDermott, Managing Director, JT Channel Islands, said: “Thanks to the ongoing partnership with Mitel, JT continues to push ahead with innovative products, providing exceptional services to business customers all over the world. That comes with hard work and commitment from our team who work closely with our partners at Mitel to provide a high level of service to our customers. Mitel rightly demand exacting standards and to go beyond those is an amazing achievement.”

Nick Riggott, Country Sales Director from Mitel, added: “JT have always represented a true partnership with Mitel, and this award is testimony to the collaboration, creativity and engagement we share. It’s one thing to develop world class enterprise communication solutions, but it’s another thing to really make them come to life. JT have delivered solutions from the broad scope of the Mitel portfolio, providing quality, secure and reliable solutions for their customers without compromise in any way.”

JT has partnered with Sky Mobile, voted Uswitch Best Pay Monthly and Best Value Pay Monthly network, to  provide additional  security for its millions of customers when carrying out financial transactions on their mobile device.

By partnering with JT’s Fraud Protection Services (FPS) Sky Mobile can help UK Banks’ fraud detection systems  to query valuable network information, providing an extra level of security to Sky Mobile’s customers  against SIM swap fraud. Criminals use SIM swap fraud to gain access to bank accounts by hijacking one time pass codes sent to mobile phones.

Once triggered by the bank, JT’s  system, in conjunction with Sky Mobile,  can carry out  a seamless background check to verify whether the SIM has been swapped on the customer’s phone, a key indicator of potential fraud and prevents criminals from stealing customers’ identities.

By working with mobile and virtual network operators globally, JT’s Fraud Protection Services provides the broadest coverage possible to prevent criminals from stealing customers’ identities. The service is already widely used by banks and businesses throughout the UK and around the world, providing additional security and peace of mind.

Clare Messenger, Head of Fraud Protection Services at JT, said: “SIM Swap Fraud is on the rise around the world and on average a customer loses £2,500 when a successful fraud is carried out. JT’s Fraud Protection Services provide an enhanced level of security when customers are making payments or using other sensitive information. What’s different about JT’s FPS platform is that it takes away the complexity of using multiple arrangements with mobile operators to create a single system to quickly verify transactions. We are delighted that our innovative services have been trusted by a leading brand like Sky Mobile to provide that extra confidence that their customers are protected against this type of fraud.”

Paul Taylor, Managing Director, JT International said: “The pandemic transformed our world in so many ways and one of those was increasing our reliance on using mobile phones to access the internet as part of our everyday lives. Fraudsters saw opportunities to use sophisticated techniques to target system vulnerabilities and we at JT International have been working hard to provide the necessary extra layers of protection to identify and prevent potential fraud.”

Paul Sweeney, Managing Director, Sky Mobile said: “With SIM swap fraud on the rise, it’s important to us that Sky Mobile customers are kept safe, which is why we’ve partnered with JT FPS to provide them with an additional level of protection and peace of mind.”