New features are part of the bank's investments in its digital and broker channels
Bankwest has launched a new package of digital services aimed at empowering and protecting customers from scammers.
Among the new offerings is NameCheck, a feature that provides customers with more detailed information about transaction recipients. Bankwest is now one of only three Australian banks to offer this service.
NameCheck, now available on the Bankwest App and Bankwest Online Banking, cross-checks the entered transaction information with the registered details for the account. If there is a mismatch, customers receive a warning about the potential scam or error and are prompted to confirm whether they want to proceed with the transaction.
The bank is also securing its Bankwest Alpha Tags, which help customers identify legitimate SMS communications from the bank.
Alpha Tags, an SMS feature, display the sender’s business name instead of a phone number. By securing these tags, Bankwest and its telco partners can block third-party messages impersonating the bank, ensuring only legitimate messages are delivered with the “Bankwest” or “BW Collect” tags.
Bankwest said these initiatives are part of its commitment to enhancing technology and digital services to offer safer and more accessible experiences for customers. The new features also follow the bank’s announcement earlier this year regarding its digital future and mark the beginning of significant investments in its digital and broker channels.
“Our customers expect secure, easy and effortless digital and broker services, and we’re accelerating investment to meet their changing needs,” said Philippa Costanzo (pictured above), head of payments, fraud and scams at Bankwest.
Costanzo noted that scammers are using increasingly sophisticated techniques, including multi-layered scams that can start as SMS scams and evolve into impersonation and account takeover scams.
“The introduction of NameCheck and Bankwest’s securing of its unique Alpha Tags mean customers now have increased transparency, leading to more confidence in their payment transactions and communications with us,” she said.
“Bankwest aspires to be Australia’s favourite digital bank, and we’ll continue to invest in services that better protect customers from scams and fraud, and offer more secure, simple and accessible digital experiences in the future.”
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