JT acquires Australian-based company behind fraud alert system

Tuesday 20 February 2024

JT has announced the acquisition of Spectrum Message Services, an Australian-based company which specialises in combining mobile communications platforms with anti-fraud and payment systems.

Spectrum's flagship product, MoneyGuard, is a mobile alert system used to process transactions for more than 120 million consumers worldwide using cards, accounts and other electronic payment forms.

It is designed to help financial institutions fight fraud by alerting and communicating with customers through SMS, mobile apps, email and voice.

JT plans to integrate MoneyGuard into its existing portfolio, hoping to enhance its ability to protect customers from financial fraud and identity theft.

Daragh McDermott, CEO of JT Group, said: “JT Group's vision is to connect our customers, and this strategic acquisition perfectly aligns with our commitment to using data-driven solutions to combat financial fraud.

"MoneyGuard's innovative features complement our existing Mobile Intelligence portfolio, bolstering our ability to provide effective communication channels in the dynamic world of financial transactions.”

Gerard Vos, Managing Director of Spectrum, added: “This marks an exciting chapter for MoneyGuard.

"Our shared vision for combining mobile alert systems with mobile intelligence aligns perfectly, and we look forward to contributing to its further growth by adding our expertise to JT's initiatives in combating fraud whilst improving the overall customer experience.”

Pictured top (left to right): Managing Director of Spectrum Gerard Vos and CEO of JT Group Daragh McDermott.