Banking Identity Safety Scorecard: U.S. Financial Institutions Raise the Bar in Self-Detection-Prevention Efforts Are the Next Target

Published Date: October 2006 Published By: Javelin Strategy & Research Page Count: 27 Order Code: R3424-8 $2,000.00   Online Download $4,000.00   Global Site License   Questions About This Report E-mail a Colleague Printable Page Fax Your Order Description Table of Contents Search Inside this Report Similar Products Overview How Well Do Financial Institutions Protect their Consumers and Allow Consum-ers to Protect Themselves? U.S. financial institutions (FIs) have made great strides in customer-facing identity fraud detec-tion and overall behind-the-scenes fraud mitigation, yet still need to capitalize on opportunities to partner with customers for fraud prevention. Javelin’s third annual Banking Identity Safety Scorecard is updated to reflect the latest criminal methods and opportunities, and shows spe-cific ways that individual financial institutions (FIs) can increase customer safety and loyalty by partnering with account holders to fight a common enemy: the identity fraud criminal. The twenty-four institutions included in the study collectively represent over 60% of the U.S. market in 2006 by dollar value of deposits, according to the FDIC. This report uses a combination of mystery-shopper and Web site research to score leading U.S. providers against exacting Prevention, Detection, and Resolution™ criteria derived from Jave-lin’s nationally representative 2006 Identity Fraud Survey Report. Primary Questions Which customer safety features most differentiate the top financial institutions? What are today’s best investments for reducing the cost of identity fraud and building consumer confidence? Where is banking safety strongest or weakest, and what is the future outlook? Findings and Analysis U.S. financial institutions have made the strongest improvement in customer self-detection ca-pabilities, potentially stopping fraud sooner by adding email alerts that make it easier and faster for customers to discover suspicious activities. Meanwhile, FIs are holding steady in offering prevention features, such as anti-phishing email policies, elimination of paper media or eradicat-ing the use of the full nine-digit Social Security number (SSN). Similar Products • Online Banking in Singapore 2008 Published Jul 2008 by Datamonitor • Anywhere Banking: Technology and Attitudes Surrounding Mobile Banking in Latin America Published Jun 2008 by Yankee Group • Online Payment in China: Transitioning from Cash to E-Commerce Solutions Published Jun 2008 by Maverick China Research • Philippines Banking Sector Analysis Published Jun 2008 by RNCOS • Bank Marketing Online: Moving into Prime Position Published Jun 2008 by eMarketer • The Alternative Payment Systems Industry in the U.S. Published Jun 2008 by Packaged Facts • Online Banking in the Age of Web 2.0 (Strategic Focus) Published May 2008 by Datamonitor • Internet Banking in ANZ Bank: Project Tiger's Leap Toward Scale Published May 2008 by IDC • Online Consumer Payments Published May 2008 by Datamonitor • Banking Market In Poland 2008-2010, CEE Banking Series Published May 2008 by Intelace Research