UK banking giant Barclays has had cause to celebrate after receiving an award for its work in combating online fraud.
The high street bank won the Anti-Fraud Strategy of the Year award at the Financial Sector Technology Awards, which recognizes the best use of new technologies to improve business processes.
The bank was commended for its use of advanced transaction profiling tools to help identify and stop fraud, as well as a number of customer initiatives that have been introduced to increase security protection for online banking. These include free antivirus software for online banking customers and a SMS text message confirmation service for when third-party payments are set up to new accounts online.
Barclays works 24/7 to combat online fraud and ensure our customers and their money are safe. This award is a reflection of how much we have done in the last year, commented Barnaby Davis, director for electronic banking at Barclays.