Javelin in the News
New York Times - Twitter is proving to be a vexing customer service tool for big banks, says a new report from Javelin Strategy & Research on banks’ use of social media. Customers seem to like the speed and directness of sending a question or complaint to their bank by Twitter, the report found. But banks must weigh the implications of responding quickly with the need to protect a customer’s personal and financial information, like bank account numbers. As a result, they’re “struggling” with how to best use the service, Javelin found.
Forbes - It’s a $37 billion crime that affects 1 in 25 Americans, with the average victim suffering $631 in out-of-pocket costs, reports Javelin Strategy & Research. Identity theft and fraud has become more difficult to detect and resolve in recent years, resulting in even higher consumer costs. Your bank account isn’t the only casualty of identity theft and fraud; time is another significant cost. The average identity fraud case will cost a consumer 33 hours to resolve—equivalent to more than four work days.