This post was originally published on Finextra (Security)
UK challenger bank Starling has launched what it claims is the UK’s first AI tool designed to spot purchase scams.
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The Scam Intelligence tool enables users to upload images and ads from online marketplaces which are then assessed for signs of potential fraud.
The tool, which was developed in partnership with Google Cloud, then provides ‘personalised guidance’ to users, according to Starling.
Financial scams are proving to be increasingly costly to UK consumers. In 2024, more than £1.17bn was lost to financial fraudsters.
The Scam Intelligence tool is Starling’s second foray into AI tools, following the launch of its Spending Intelligence service earlier this year.
“Fraud is a huge problem for UK consumers, and we believe AI can be a powerful tool to help tackle it,” said Graham Dury, director, FSI, Google Cloud in the UK and Ireland.
“We’re on a mission to help our customers be ‘Good with money’, from how they spend it to how they save and protect it,” added Catherine Britton, head of fraud risk at Starling Bank.
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