TANDEM ELIMINATES HOLIDAY HEADACHES WITH EASY ANTI-FRAUD FEATURE

Tandem, the Good Bank, has today launched a new feature for its account aggregating app that allows users to easily confirm whether they are spending overseas or engaging in other potentially fraudulent activity.

The “Fraud Conversation” is a new interactive two way notification that sends you a simple push notification – say goodbye to stressful blocked transactions and unneeded phone calls with your bank.

Tandem CTO, Paul Clark, says, “Tandem’s goal has always been to make customers ‘life-rich’. This is why we’ve developed a new feature that allows people to easily identify instances of fraud and to spend overseas hassle free.”

Today Tandem is launching a brand new feature, unique to the bank – the “Fraud Conversation”. In keeping with Tandem’s stress-free approach to money management the Tandem App will now flag potentially fraudulent activity with a quick and easy chatbot interaction. While other banks would block transactions without notifying the customer, or jump right in with unsolicited calls, Tandem raises issues in a way that feels natural and unintrusive to its users.

This feature was initially conceived by the bank’s 11,000 co-founders, who voiced their frustration at having their card blocked, or having to call their bank to explain that they are going on holiday. Tandem took this idea and ran with it. The “Fraud Conversation” was developed by members from both of Tandem’s mobile teams, their mobile services team, and has been supported by their back end suppliers. Their work aligns with Tandem’s broader goal to create tech solutions that are intuitive for everyone.

Tandem, CTO, Paul Clark says, “When we talked to our Co-Founders about sources of unescessary stress the way overseas fraud checks are handled came up time and time again. We want to make fraud prevention easy for people: we give users a nudge and if they confirm that it’s them conducting the activity they can continue spending hassle-free.”

Spending overseas is just one of many potentially fraudulent activities that are now flagged by the Tandem App. Various aspects of user activity are measured to identify whether the person using the account in question is who they say they are. Just as the App’s AI driven “Highlights” draw users attention to large payments, new merchants, or unescessary fees, the “Fraud Conversation” makes monitoring spending on your credit card simple with a conversational user interface.

Clark adds, “Tandem’s goal has always been to make customers ‘life-rich’. This is why we’ve developed a new feature that allows people to easily identify instances of fraud and to spend overseas hassle free. While many banks employ these fraud rules, most do not offer a self resolution service, and certainly not a proactive one.”