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January 2010

End-to-End Encryption, Tokenization, and EMV in the US: Vendor Analysis of Emerging Technologies and Best Hybrid Solutions

If the merchant’s cardholder data can be taken out of scope or rendered useless to the criminal through methods such as end-to-end encryption, tokenization or EMV, fraud liability and costs associated with PCI compliance can be substantially reduced. A recent flurry of public data breaches has heightened awareness of both the need for and the cost of PCI compliance.  The card industry and merchants alike are looking to protect sensitive card data in motion and at rest. The National Retail Federation estimates that more than $1 billion has been spent by merchants on PCI compliance to date,1 despite existing card fraud increasing 16% to reach $22 billion in 2008 alone. But the question remains what method(s) makes the most sense for the card industry and merchants to adopt today, and how soon before the next technology comes along. Detailed comparisons of five newly announced processor solutions, including those of Chase Paymentech, Elavon, First Data, Heartland and RBS; five tokenization vendor solutions, Chase Paymentech, CyberSource, nuBridges, RSA, and Shift 4; and six technology vendor solutions, Hypercom, Ingenico, MagTek, Semtek, VeriFone and Voltage, are included in this report.

51 pages; 18 charts/graphs

January 2010

Green Billing 2010: How to Turn Off More Paper Statements as Consumer Attitudes and Alerts Technologies Change

The importance of environmental issues has only grown since Javelin published what we believe is the nation’s first research report on green banking in 2003. In short, there is a Green Dividend – and it is taking on increased significance during the recession and banking meltdown as banks, credit unions, billers and vendors search for ways to persuade consumers to convert from paper statements to online statements. The good news is that billers in three key industries have achieved remarkable results from their efforts to “turn off’’ paper statements. On the other hand, the large majority of consumers still receive paper statements, costing billers billions of dollars annually in postage and paper alone. This report tracks the influence of environmental issues since 2005, outlines what will motivate consumers to view more bills online and switch to electronic statements, measures adoption of e-statements in 14 industries, and examines the characteristics of green-minded consumers, identifies key market segments to target first, and the return on investment from turning off paper statements.

48 pages; 20 charts/ graphs

January 2010

10 Trends that Will Shape Banking, Payments and Security in 2010

Javelin’s senior analysts weigh in on the top 10 trends that will shape banking, payments and security in 2010. Financial institutions will struggle to cope with a hobbled economy, wrenching regulatory changes, mounting fraud threats and limited budgets for innovation. Nonetheless, it is likely to be an eventful year for opportunistic financial institutions that take steps now to be on the cutting edge of person-to-person payments, embrace innovations from alternative vendors, tighten security vulnerabilities and serve up real-time data that will be in increasing demand in an era of “always-on, anytime, anywhere” banking.

41 pages; 7 charts/graphs

December 2009

Multi-Channel Account-to-Account Transfers and P2P Payments Forecast: Evaluating Trends and Assessing the Future 2006-2014

Person-to-person (P2P) transfers, payments from one individual to another, may be made for a variety of purposes, including sharing a meal or the purchase of tickets, sharing rent, giving money to a student or family member, paying for events, making a donation, or even making payments for auction purchases. Such transfers have traditionally been paper-based. This report examines the potential of and growth in new transfer alternatives, including P2P transactions initiated using online or mobile channels. The report focuses on the U.S. market but also looks at the potential for global expansion in P2P services. This report includes a five-year forecast of the U.S. household market for online P2P transfers, online inter-institution account-to-account transfers, wire transfers sent using a bank or credit union, and wire transfers sent using a service such as Western Union.

40 pages ; 24 charts/graphs

December 2009

U.S. Online Channel Security: An Assessment of the 24 Top Financial Institutions

Why worry about online channel security? According to the Open Web Application Security Project (OWASP) Top 10 report, a cross-site scripting flaw on a customer-facing website could allow criminals to access the bank’s internal network or, at the very least, insert counterfeit content alongside legitimate content on a site or redirect customers to a fraudulent third-party site. For financial institutions, the stakes are high. In this report, Javelin evaluated the web-facing online security of 24 top financial institutions. The analysis includes whether the home page and individual login pages included SSL/TLS or EV-SSL encryption, because otherwise they can be compromised with incorrect links and information. Javelin researched online banking enrollment procedures for existing customers and examined the actions required for retrieving lost or forgotten usernames and passwords. Javelin suggests best practices and risk mitigations for each area examined.

34 pages; 9 charts/ graphs

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