Embracing AI with Gillian HAMMAH: How AI voice technology is strengthening fraud prevention in financial services

Ghana’s fintech and banking sectors have seen rapid growth, but this progress comes with a serious downside: rising fraud. In 2024 alone, the Bank of Ghana 2024 Fraud Report indicated that nearly GH?100 million was lost to scams such as forgery, identity theft, phishing, and insider collusion.

Fraudsters are becoming more sophisticated, using fake online shops and clever social engineering to trick unsuspecting victims. As digital financial services expand, so does the need for stronger security, better customer education, and smarter fraud detection systems.

 The language barrier problem: A key weakness

One major factor making Ghanaians vulnerable to fintech fraud is the language barrier. Many people, especially in rural areas, have limited English skills or are semi-literate.

This makes it harder for them to understand transaction details, security warnings, or terms and conditions – especially when these are only available in English.

Fraudsters exploit this by using local languages and simple words in phone calls and SMS messages, making scams like phishing and vishing (voice phishing) more convincing.

Victims may not fully grasp what they are being asked to do, leading to accidental approval of fraudulent transactions. For example, a vague mobile money prompt like “XYZ Merchant requests GHS 220” can confuse users who struggle to read or interpret the message, resulting in unauthorised payments.

Additionally, many customers prefer voice communication over written messages due to literacy challenges. This preference is exploited by scammers who impersonate trusted organisations over the phone, speaking in local dialects to gain trust and trick people into revealing sensitive information like PINs or OTPs.

How AI-Powered Text-to-Speech (TTS) Technology Can Help

AI-powered text-to-speech (TTS) technology is emerging as a powerful tool to fight fraud in fintech. TTS converts written text into natural-sounding speech, making it possible for companies to communicate important information to customers in their preferred language and format. Here’s how TTS and related AI technologies can help prevent fraud:

Voice biometrics for secure authentication

AI-powered TTS can work with voice recognition systems to authenticate users based on their unique voiceprint. This means that only the real account holder can access sensitive services or approve transactions via voice channels. Voice biometrics are difficult for fraudsters to fake, making it much harder to commit identity theft or unauthorised account access.

Preventing voice Phishing (Vishing) ccams

Vishing is when fraudsters call customers pretending to be from a bank or fintech company, trying to trick them into revealing personal information.

AI-driven TTS can help detect suspicious calls by analysing voice patterns and behaviors. It can also be used to send official, consistent voice messages to customers, reducing the risk of them falling for fake calls.

Real-time fraud alerts in local languages

With TTS, fintech companies can send automated voice alerts about suspicious transactions directly to customers in their local language.

This ensures that even those who are semi-literate or prefer oral communication can understand urgent warnings and take action quickly. Early detection and response are crucial in stopping fraud before it causes serious harm.

Enhanced fraud detection with behavioral analysis

TTS is often part of a larger AI system that monitors customer behavior and transaction patterns. If the system detects something unusual, it can immediately send a voice alert or request verification from the customer. This real-time communication helps catch fraud early and provides a clear, accessible way for customers to respond.

Multi-channel fraud prevention

AI-powered TTS can be integrated into chatbots, voice assistants, and automated phone systems (IVR), ensuring secure and consistent communication across all platforms. This holistic approach makes it harder for fraudsters to exploit any single channel and helps protect customers wherever they interact with their fintech provider.

 The role of Natural Language Processing (NLP) and machine learning

AI-powered TTS relies on advanced technologies like natural language processing (NLP) and machine learning (ML) to make fraud prevention smarter and more effective.

• NLPhelps the system understand and analyse human language, whether it’s in emails, chat messages, or phone calls. It can spot suspicious phrases, emotional cues, or inconsistencies that might indicate a scam.
• Machine Learningallows the system to learn from past fraud cases and adapt to new tactics. It can analyse huge amounts of data to spot unusual patterns, assign risk scores, and trigger timely voice alerts or verification requests.

Together, these technologies enable fintech companies to stay ahead of evolving fraud threats and communicate effectively with customers from all backgrounds.

 Benefits of integrating AI-powered Text-to-Speech (TTS) solutions

As Ghana’s fintech sector continues to grow, so do the risks of fraud – especially for customers who face language or literacy barriers. Integrating AI-powered text-to-speech (TTS) technology offers several practical advantages that can help fintech companies protect their customers and reduce fraud losses. Here are five key benefits:

Improved customer understanding and awareness

AI-powered TTS allows fintech companies to deliver fraud alerts, transaction notifications, and security warnings as spoken messages in local languages and dialects.

This makes it much easier for customers who are semi-literate or do not speak English fluently to understand important information. When customers clearly understand alerts and instructions, they are less likely to fall victim to scams caused by miscommunication or confusion.

Real-time voice alerts for suspicious activities

TTS enables fintechs to send immediate, clear voice notifications when unusual or potentially fraudulent transactions are detected. These real-time voice alerts prompt customers to verify or report suspicious activity quickly. The faster a customer is alerted, the quicker they can act – helping to stop fraud before it leads to significant losses.

Enhanced accessibility and inclusion

By using natural, human-like speech in multiple local languages, TTS solutions make digital financial services more accessible to everyone, including people in rural or underserved communities. This inclusivity ensures that all customers, regardless of literacy level, can receive and understand fraud warnings and security instructions, reducing the risks associated with language barriers.

Reduced operational costs and faster response

Automated voice messages powered by TTS reduce the need for manual phone calls or in-person outreach when fraud is suspected. This means fintech companies can efficiently manage large volumes of alerts and customer interactions without having to hire more staff. The result is faster, more scalable fraud prevention at a lower operational cost.

Stronger multi-layered fraud prevention

TTS can be combined with other AI-driven fraud detection systems as part of a multi-layered approach to security. For example, voice alerts can be paired with voice biometrics and other verification methods, making it harder for fraudsters to impersonate customers or bypass security checks. This strengthens overall fraud prevention while keeping the process user-friendly.

Why this matters for Ghana

Ghana’s fintech industry is growing rapidly, but so are the risks. With millions of people using mobile money and digital payments, and many still facing language and literacy challenges, traditional fraud prevention methods are not enough. AI-powered TTS technology offers a way to close the communication gap, making security messages clear and accessible for everyone.

By adopting these tools, fintech companies can:

• Protect vulnerable customers from scams
• Reduce financial losses
• Build trust in digital financial services
• Support Ghana’s journey toward a safer, more inclusive digital economy

 Wrapping Up

Fraudsters are always looking for new ways to exploit weaknesses in the system, but technology is catching up. AI-powered text-to-speech is transforming how fintech companies communicate with and protect their customers.

By making fraud alerts and verification processes simple, clear, and available in every language, these tools can help ensure that no one is left behind in Ghana’s digital financial revolution. For business leaders, the message is clear: investing in AI-powered voice technologies is not just about staying ahead of fraud – it’s about building a safer, more inclusive future for all Ghanaians.

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TAKE 5 WITH AYA

Here are five key takeaways from this article:

1. AI-powered text-to-speech (TTS) helps fintechs communicate fraud alerts clearly in local languages, improving customer understanding and safety.
2. Real-time voice alerts enable quick customer verification, preventing fraud losses before they escalate.
3. TTS enhances financial inclusion by making fraud prevention accessible to semi-literate and rural populations.
4. Automated TTS messages reduce operational costs while improving response speed to suspicious activities.
5. Combining TTS with voice biometrics creates stronger, multi-layered fraud prevention systems in fintech.

Dr. Hammah is the Chief Marketing Officer at Aya Data, a UK & Ghana-based AI consulting firm, that helps businesses seeking to leverage AI with data collection, data annotation, and building and deploying custom AI models. Connect with her at [email protected] or  www.ayadata.ai. 

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