Metro Bank has launched a new tool that uses AI (artificial intelligence) to help people spot scams. It works through WhatsApp and is the first of its kind in the UK.
The bank has partnered with an award-winning scam detection company called Ask Silver. This service is called the Metro Bank Scam Checker.
If someone receives a message, email, letter, or sees a suspicious webpage, they can take a photo or screenshot and send it to the scam checker on WhatsApp. The AI will then check if it is a scam and give advice on what to do next.
Metro Bank says fraud is a growing problem. In 2023, over £1 billion was lost to fraud in the UK, and more than 40% of all crimes were scams.
Baz Thompson, Metro Bank’s head of fraud, said this new tool will help protect customers quickly. He said scammers often rush people to make bad decisions, and this tool gives customers fast help to stay safe.
Ask Silver was started by Alex Somervell and Jonny Pryn, after a family member of Somervell lost £150,000 to a scam.
Alex said they are happy to work with Metro Bank to help more people avoid scams. He hopes this is just the start of more partnerships to keep people and their money safe.
On Monday morning, Metro Bank’s shares dropped by 7.1% to 78.50 pence in London.
Source: morningstar
