Australian banking company Westpac has launched an AI-driven call assistant designed to combat scams in real-time.
Currently undergoing a pilot phase with the bank’s dedicated scam and fraud team, this technology aims to identify potential scam indicators during live customer interactions and assist operators in providing timely and consistent responses.
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This initiative is part of Westpac’s ‘AI Accelerator’ programme, which seeks to integrate intelligent automation throughout the bank’s operations.
Over the past two years, Westpac has allocated more than A$100m ($64.3m) towards scam prevention efforts, resulting in savings of over A$500m ($321.5m) for customers.
The AI system can recognise signs that a customer may be on the verge of transferring funds to a scammer, based on their conversation with the bank. Additionally, it can detect if a customer is being coached by a scammer in the background.
Initial findings indicate that the AI tool is enhancing the speed of scam detection and improving the quality of customer service.
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By GlobalDataOperators participating in the pilot have reported feeling better prepared to manage high-pressure scenarios effectively, according to the company.
Westpac CEO Anthony Miller said: “Our customer service specialists are often trying to solve complex puzzles with many missing pieces.
“This AI tool is helping fill some of those gaps and is aiding our teams in real-time so they can more effectively respond.”
The AI assistant complements a range of existing digital security measures, including Westpac SafeBlock, which allows customers to freeze their accounts instantly.
Westpac SafeCall provides verified calls through the app to prevent spoofing, while Westpac SaferPay prompts customers with questions before processing high-risk payments.
Other tools include Westpac Verify, which flags mismatched account names during transfers, and Dynamic CVC, which changes digital card security codes every 24 hours.
The bank has also implemented measures such as to block 94,000 numbers from impersonation and developed systems for detecting scam signals in inbound payments and identifying remote access scams through behavioural analytics.
