FICO® Customer Communications Service Scam Signal wins award at Credit & Collections Technology Awards; solution uses telephony signals to spot scams

LONDON – 18 November, 2024 (International Fraud Awareness Week) – FICO (NYSE: FICO)

A new solution from global analytics leader FICO and Jersey Telecom (JT) received the Best Anti-Fraud Solution award at the Credit & Collections Technology Awards on November 7 in Manchester. The FICO® Customer Communications Service solution, called ‘Scam Signal’, 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 (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.

“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.”

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 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.

Results from banks using the solution include:

• Reduced the number of people scammed by 41%.
• Decreased fraud losses from scams by 44%.
• Lowered false positives (payments flagged as fraud that are in fact genuine) by 55%.

“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.”

About the Credit & Collections Technology Awards

The 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.

The full list of winners is at https://awards.credit-connect.co.uk/awards-winners.

JT has successfully concluded a pilot workshop aimed at attracting individuals who have been out of the workforce for an extended period. This initiative highlights JT’s commitment to building a sustainable business while growing a diverse and inclusive culture.

Recognising that those not in education, employment, or training often feel overlooked, JT has taken a proactive approach to dispel the myths and highlight the relevance and transferability of their skills and experience.

The workshop was designed to demonstrate JT’s flexible, inclusive, and accommodating work environment. To achieve this, current employees, particularly those who work part-time, are parents or carers, or have made significant career changes later in life, stepped up to represent the business. These advocates shared their personal experiences, providing attendees with authentic insights into life at JT.

Laura Belo, Head of Human Resources at JT, explained: “We wanted to offer a return-to-work workshop to introduce people to our business, our products and services, values, and our inclusive working practices. While we are very actively engaged with schools and colleges on the island through enrichment workshops, talks, and career fairs, we recognised a gap in our outreach efforts. This workshop was an opportunity to connect with those not in education, employment, or training, understand their needs, and explore how we can help them and benefit from their talents.”

In 2023, only 30% of applicants for positions at JT were female, despite women comprising approximately 50% of the working population. This discrepancy highlighted the need to address misconceptions about working in telecommunications. The workshop, held in collaboration with Back to Work earlier this month, has helped in part to successfully portray real life at JT.

Joanna Baran, Back to Work Recruitment Officer at Business Hub, said: ‘’Our clients found the workshop insightful and enjoyable; it offered valuable guidance for transitioning back to the workplace, and the interactive sessions made the experience both engaging and practical.”

The results of the workshop have been promising, of the applications received since the workshop, 50% of them have already been offered a role at JT, which demonstrates the effectiveness of the initiative in reaching out to and supporting those who have been out of the workforce.

Laura added ‘’By engaging with a broader demographic and being able to let them see for themselves the diverse and supportive environment we have at JT, its given us an additional opportunity to expand our talent pipeline and support our commitment to social responsibility and sustainability. This initiative is a testament to JT’s belief that everyone has valuable skills and experiences to contribute, regardless of their time away from the workforce.

For more information about employment opportunities at JT, please visit our website or contact our HR department.

One year into a major infrastructure project, JT Group is delighted to announce that the programme to build the Channel Islands’ next-generation mobile networks is not only on schedule but has achieved a pivotal milestone by entering the testing phase.

5G technology promises unprecedented speeds, ultra-low latency, and massive connectivity, revolutionising industries and transforming communication. While its benefits are already enjoyed across Asia, the US, and most major UK towns and cities, rigorous testing across various stages of deployment and operation is essential to realise its full potential in the Channel Islands. This involves lab-testing environments and real everyday scenarios.

A dedicated state-of-the-art test lab, a separate controlled space replicating the network production environment, has now been established in Jersey. This facility will enable engineers to test changes before implementation, ensuring network performance and reliability.

Daragh McDermott, CEO of JT Group, said: “Reaching this exciting and critical phase on time is a testament to the exceptional skills of our team. The meticulous testing required to ensure network performance and reliability is of utmost importance. This new test environment represents a significant step towards achieving the technological transformation needed to meet future demands for Channel Islanders.”

The project includes mobile network modernisation and upgrades to JT’s Radio Access Network (RAN), Transport/Transmission and Core Network infrastructure and associated Network Management and operations tools. Beginning last year, the project features Ericsson’s advanced telecommunications solutions, software and services, especially the latest energy-efficient features, supporting a sustainable network evolution. In tandem with this project, JT continues its progress to simplify, digitise, and automate its processes, systems, and customer offerings, aligning with today’s consumer, business, home, and industry needs.

Katherine Ainley, CEO of Ericsson, UK and Ireland, said: “Our collaboration with JT is driven by a shared vision for next-generation connectivity. New technologies and architectures bring both benefits and challenges. The start of testing marks an exciting step towards completing a next-generation network, promising enhanced connectivity and innovation for the Channel Islands.”

Deputy Lyndon Farnham, Chief Minister of Jersey, said: “This substantial investment by JT will ensure islanders have access to the opportunities that new technology brings. Focusing on the future, this development of a next-generation mobile network is about more than improved connectivity; it is about building a resilient, innovative, and prosperous future for generations to come. This lab will evaluate equipment performance and validate new technologies, ensuring that the islands remain at the forefront of communications technology, offering access to cutting-edge services and products.”

Daragh McDermott, CEO of JT Group, added: “We are committed to building a network that delivers exceptional connectivity and encourages innovation, powering new services for consumers and businesses and contributing to the digital transformation and economic growth of Channel Islands. All things going well, we remain on track to deploy 5G by the end of 2025.”

Did you know that a staggering two-thirds of all reported fraudulent transactions can be traced back to mobile phones? As we increasingly bank, shop, and socialise online, smartphones have become prime targets for cybercriminals. Techniques such as SIM Swap fraud, Authorised Push Payment, and Call-forwarding fraud are commonly used to deceive customers.

At JT, we fully recognise the dangers of financial fraud. That’s why we created JT Mobile Intelligence, giving us a unique edge. Our solutions and products, used the world over, verify identities, authenticates transactions, and detects fraud, safeguarding businesses and their customers. These tools are crucial for effective KYC processes, because at the end of the day, happy customers are the core of any business.

Our Chief Product Officer, Tom Noel, explains more about how JT is making a difference, read here.

Seamless Connectivity available for everyone who travels

In a significant enhancement to mobile services, JT has launched the first and only Data Roaming eSIM from a Channel Islands mobile network operator. The JT eSIM is now available to all Channel Islanders and visitors, offering market-leading data roaming rates in the UK and EU helping people save money, regardless of which telecoms provider they normally use – all with the simplicity and ease of eSIM technology.

So what exactly is an eSIM and how does it work? eSIM is a digital SIM already built into modern devices, like newer smartphones and tablets, eliminating the need for a physical SIM card. To activate it, you just scan a QR code or download it through an app, which lets you connect to a mobile network in minutes.

The JT eSIM is the best option if you’re looking for an easy way to stay connected while travelling. You won’t need to switch SIM cards as you move across the UK and Europe, and you’ll get the lowest data rates without the worry of bill shock. It’s also perfect for visitors to the Channel Islands, whether here for a day or a month. The best part? It’s available to everyone, no matter which provider you use. It’s contract-free and doesn’t require credit checks, giving you complete flexibility and control over your mobile usage.

Lee Madden, CEO, GR8 Recruitment said: “Providing affordable connectivity for employees coming to the island to work in various sectors is essential. With JT eSIM, staying in touch with family back home and connecting with new people here is now going to be so much easier. It’s simple to setup, with no language barriers, just scan, pay, and go. It’s flexible, instant, and requires no commitment.’’

Steph Parker, Travel Influencer @bigworldsmallpockets said: ‘’JT eSIM is a game-changer for solo travellers. Instant, secure connectivity which really gives me peace of mind wherever I go. It’s affordable, easy to top up, and knows no borders. Stay connected and safe on all your adventures!’’

The beauty of this option is that the JT eSIM works across multiple countries for 30 days, making it perfect for planned business trips and holidays or spontaneous border-crossing adventures.

Tom Noel, Chief Product Officer, JT Group said: ‘‘At JT, our focus is on the customer. Our Data Roaming eSIM is easy to use, affordable, and flexible, with no long-term commitment required. You don’t need to be a JT customer to enjoy roaming with JT.

Tom added: ‘’With Many CI businesses having an international presence and with many others expanding into new markets, the JT eSIM offers a solution to one of their biggest challenges: maintaining reliable and cost-efficient global connectivity, from a trusted provider that they know they can rely on. eSIM technology is set to replace physical SIMs soon, and we’re committed to staying ahead of these changes to meet the needs of travellers everywhere.’’

Following the acquisition of Spectrum Message services earlier this year, JT Group is rapidly expanding its reach across the Americas in response to overwhelming demand. This expansion highlights JT’s commitment to combating financial crime with innovative mobile intelligence solutions and marks the introduction of their latest fraud prevention product, MoneyGuard, to new markets, reinforcing its role as a leader in financial security.

Washington based, Andreas Suma, is leading this expansion in North and Latin America. He brings over two decades of experience in developing growth strategies for top firms in the fraud prevention domain as well as significant experience in payments and digital channels across the hemisphere, including ACI Worldwide, FICO, and Clickatell. His expertise is crucial in tailoring MoneyGuard to meet the specific challenges of the American markets.

According to recent statistics, incidents of fraud involving payment platforms continue to see notable increases, with consumers reporting a 50% rise in fraudulent activities last year alone. This trend is predicted to continue, driven by evolving fraud threats and the increasing adoption of real time payments. MoneyGuard tackles this challenge head-on by integrating sophisticated mobile intelligence and customer engagement capabilities into everyday financial transactions, enhancing fraud detection and prevention in real-time. MoneyGuard currently protects over 130 million customer accounts globally and supports comprehensive communication via SMS, WhatsApp, mobile app push notifications, email, and voice, keeping customers informed through convenient, cost-effective, and preferred channels.

Tom Noel, Chief Product Officer, JT Group, said, “Our expansion into the US is driven by the urgent need for cutting-edge, accessible technology that secures consumers’ finances against increasingly sophisticated threats. MoneyGuard represents the pinnacle of our innovative efforts, blending real-time fraud detection with mobile intelligence solutions to provide a steadfast defence for consumers.”

Andreas Suma, Managing Director, JT Mobile Intelligence added, “The proven MoneyGuard solution is an ideal fit for the US market as consumers increasingly adopt real-time payments. Increasing usage of alternative payments and wallets, including the impending entry of FedNow standards, will accelerate this shift. Capabilities such as MoneyGuard allow better protections to consumers and greatly minimize friction with consumers engaged through traditional channels while notably reducing operational costs.”

With ongoing plans to expand its Mobile Intelligence solutions, JT is committed to ensuring that businesses and their customers can rely on their transactions being safeguarded by the most advanced systems available.