The Investor
10 Jul 2025, 21:56
Barclays and FICO Win 2025 Credit Award for Excellence in Fraud Prevention
Barclays Bank and FICO have received the Credit Award for Excellence in Fraud Prevention for their use of the Scam Signal solution. Developed in partnership with Jersey Telecom, Scam Signal enables real-time detection of social engineering scams using live telephony data.
Barclays reported that the solution, deployed through FICO’s Customer Communication Services, identified nine scam victims on its first day and is expected to reduce card fraud by 6%. The system works by detecting scam indicators and delivering timely, personalized messages to customers, helping to prevent Authorised Push Payment fraud, which cost the UK £450 million last year.
The collaboration highlights the growing use of AI and real-time data to combat increasingly sophisticated financial fraud schemes. Barclays emphasized the positive impact on customer safety and education, particularly among vulnerable populations.
FICO noted this award affirms the importance of innovation and technology in fighting fraud. Scam Signal has previously won industry recognition, including Best Anti-Fraud Solution at the 2024 Credit & Collections Technology Awards.
Barclays Bank and FICO have received the Credit Award for Excellence in Fraud Prevention for their use of the Scam Signal solution. Developed in partnership with Jersey Telecom, Scam Signal enables real-time detection of social engineering scams using live telephony data.
Barclays reported that the solution, deployed through FICO’s Customer Communication Services, identified nine scam victims on its first day and is expected to reduce card fraud by 6%. The system works by detecting scam indicators and delivering timely, personalized messages to customers, helping to prevent Authorised Push Payment fraud, which cost the UK £450 million last year.
The collaboration highlights the growing use of AI and real-time data to combat increasingly sophisticated financial fraud schemes. Barclays emphasized the positive impact on customer safety and education, particularly among vulnerable populations.
FICO noted this award affirms the importance of innovation and technology in fighting fraud. Scam Signal has previously won industry recognition, including Best Anti-Fraud Solution at the 2024 Credit & Collections Technology Awards.