Digital banking firm Revolut has released a new function within its app to address incidents of “impersonation” fraud, aiming to improve user security during phone interactions.
The feature works by detecting when a user opens the Revolut app while engaged in a phone call, including those made through third-party calling applications, and then checks if the call is with a legitimate Revolut agent.
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Once a call is detected, a notification appears inside the app.
If the system recognises that the conversation is taking place with Revolut’s official support, the user will see confirmation that the call is genuine.
If it determines the call is not with Revolut, an urgent message warns the user accordingly.
Users are then able to click through to options providing next steps if they suspect fraudulent activity.
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By GlobalDataAccording to Revolut, this addition follows other recent updates aimed at preventing scams and unauthorised transactions.
Other security measures introduced by Revolut this year include in-app calling, allowing customers to speak securely with company representatives, and features such as Wealth Protection and Street Mode, which use biometric checks or delayed transfers in certain situations.
The company also employs machine-learning to assess and block suspicious transactions before money leaves an account.
The new alert function is immediately available for iOS users. Android users need to activate it themselves via the Security Hub section of the app.
Revolut product owner Rami Kalai said: “Revolut is committed to building a safer financial future. As fraudsters adopt AI and advanced deepfake tools, we need to innovate fast to defend our customers and stay ahead of rapidly evolving fraud threats.
“This new feature not only gives users real-time, contextual warnings in the moment they need them most but also guides them to identify impersonation scams providing clear, actionable steps to keep their money safe while the fraud attempt is happening.”
Notably, in November, Revolut finalised a secondary share sale at a $75bn valuation.
