Optus and Westpac collaborate to introduce groundbreaking scam protection for Australians

In a pioneering effort to combat bank impersonation scams and enhance customer experience, Optus and Westpac have partnered to launch a revolutionary in-app calling feature for Westpac customers.

Introducing Westpac SafeCall: Verified calls for enhanced security

Westpac SafeCall is an innovative solution that allows Westpac customers to receive branded calls directly via the Westpac app, which are branded as “Caller verified by Optus”.

This new feature displays the Westpac logo, verifies Westpac as the call through Optus, and provides the reason for the call, offering customers greater assurance in the legitimacy of their interactions.

This is especially crucial given the rise in bank impersonation scams targeting customers.

How it works

1. Verified Caller ID: When Westpac calls a customer via the app, the phone displays Westpac as the verified caller.
2. App-Based Interaction: The call opens within the Westpac app, ensuring a seamless and secure experience.
3. Enhanced Identification: Customers can easily confirm their identity by logging into the app.

Westpac's Chief Executive Officer, Peter King, emphasised the dual benefits of this new capability: improving customer experience and strengthening Australia's defences against scammers. "With this technology, customers will see 'Westpac' as the caller, verified by Optus, along with the reason for the call. This provides added confidence and security, helping to combat scammers and ensuring customers are genuinely speaking with their bank," Mr. King stated. He further noted that Westpac's investment in scam prevention currently detects 69% of scam cases, with SafeCall poised to reduce bank impersonation scams further.

Optus' Interim CEO, Michael Venter, highlighted the significance of this collaboration. "Optus is proud to partner with Westpac to deliver this world-leading solution that safeguards customers from scammers and fraudsters. Leveraging our market-leading technology, we provide Westpac customers with branded and verified calls, ensuring clear identification of bank interactions. This partnership showcases how Optus uses its network capabilities and digital solutions to create value for partners and customers," Mr. Venter explained.

Powered by Vonage

The branded calling solution is powered by Vonage, a global leader in cloud communications and a part of Ericsson. It will be gradually rolled out to Westpac customers in the coming months. This initiative builds on Westpac's ongoing efforts to enhance customer protection and reduce scam losses. Additionally, customers will have the capability to call the bank directly via the Westpac app.

Westpac’s ongoing commitment to scam prevention

Over the past two years, Westpac has saved customers over $400 million from scams and invested more than $100 million in new detection and prevention measures. These initiatives are part of the Scam Safe Accord and include:

• Westpac SaferPay: A series of questions for high-risk payments to prevent scams.
• Westpac Verify: Alerts for potential account name mismatches when adding new payees.
• Dynamic CVC: A changing three-digit code on the digital card every 24 hours.
• Cryptocurrency Blocks: Restrictions on payments to certain digital currency exchanges.
• Merchant Blocks: Prevention of payments to businesses deemed high-risk for scams.
• Call Spoofing Measures: Adding 94,000 Westpac numbers to the ‘Do Not Originate’ list.
• Inbound Payment Detection: Monitoring incoming payments for scam indicators.
• Sophisticated Detection Technology: Advanced tools to combat remote access scams.

Optus is thrilled to support Westpac in this innovative endeavour, reinforcing our commitment to providing cutting-edge solutions that enhance security and customer experience. Stay tuned for more updates as we roll out these groundbreaking features.