'World first' as Permanent TSB introduces new in-app feature targeting fraudsters

PTSB COO Peter Vance & Expleo MD Phil Codd Launch PTSB Protect

Permanent TSB has introduced a new feature to its banking app which will help prevent customers falling victim to fraudulent scams.

"PTSB Protect" alerts customers when they receive a message containing a fraudulent link and blocks them from accessing a suspicious website, with the feature comparing links on a customer’s phone against a known blocklist which pose as legitimate websites to deceptively obtain personal or banking details. 

Where a link matches an entry on the blocklist – which will be maintained and updated daily by the Bank– the website will either be blocked or an alert will be sent to the customer.

PTSB Protect will scan incoming texts to the customer’s phone regardless of whether they are using the banking app at the time or not, however, Permanent TSB said it has no access itself to the information contained on the customer’s phone.

Once PTSB Protect is enabled, on Android devices, the feature will alert customers when a fraudulent website is present in a text message. On iPhone devices, the Permanent TSB app will essentially act as a content blocker to prevent customers from visiting known fraud sites.

As the functionality will require additional access to browser and text message content, the bank has said customers will be required to opt-in to enable the new feature.

According to Permanent TSB, it is the first bank in the world to integrate this type of feature into its mobile banking app, working in partnership with Expleo, a global technology, engineering and consulting service provider.

“Attempts to defraud customers through criminal activity has increased significantly over the last number of years," said Chief Operating Officer of Permanent TSB, Peter Vance.

"With scams getting more sophisticated, consumers need to continue to be on their guard at all times. 

"By introducing PTSB Protect as a new line of defence to our mobile app, we can now directly identify the source of this activity and help protect our customers before their accounts can become compromised."

Recent figures from the Banking and Payments Federation of Ireland (BPFI) found that incidents of card fraud cost Irish consumers €85m last year, an increase of 8.8% compared with 2021.

"In today's digital era, we find ourselves under a persistent barrage of sophisticated phishing scams," said Phil Codd, Managing Director, Expleo Ireland.

"The complexity of these attacks can make it difficult to trust the technology we rely on, or to tell what's real from what's fake. This anti-smishing solution puts online safety front and centre and gives banking customers the assurance they need."