Challenger bank Tandem has added a new feature for its account aggregating app that allows users to confirm whether they are spending overseas or engaging in other potentially fraudulent activity. The “Fraud Conversation” is a new notification feature that sends a push notification when it sees a possible issue.
This feature was initially conceived by the bank’s “11,000 co-founders” and their frustration at having their card blocked, or having to call their bank to explain that they are going on holiday. Their work aligns with Tandem’s broader goal to create tech solutions that are intuitive for everyone.
“When we talked to our co-founders about sources of unnecessary 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,” commented Tandem, CTO, Paul Clark.
Other potentially fraudulent activities 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.