San Francisco, CA, March 5, 2015: Bankers who are intent on preparing for the day when digital channels will dominate account opening should rethink their timing. That day might already have arrived. The checking account – the foundational bank account that Americans have long established face-to-face at a branch – is at a tipping point with 70% of likely applicants saying they would prefer to submit a digital application in 2015. The far-reaching implications apply not only to the “branch of the future” but also to the branch-centric culture of banking itself. Today, Javelin Strategy & Research’s report, Digital Account Opening Reaches the Tipping Point, finds Americans are increasingly comfortable with digital channels to open various financial accounts. It also recommends strategies for financial institutions to optimize the omnichannel experience in order to maximize the number of completed and qualified applications.
Students Most Severely Impacted by Fraud
Two-Thirds of Identity Fraud Victims Were Also Notified Data Breach Victims
SAN FRANCISCO, March 3, 2015 – The 2015 Identity Fraud Study, released today by Javelin Strategy & Research (@JavelinStrategy), revealed that 2014 was a mixed year in the fight against identity fraud, with some advances and some setbacks. The study found that fraudsters stole $16 billion from 12.7 million U.S. consumers last year. With a new identity fraud victim every two seconds, there is still significant risk to consumers, particularly students. Encouragingly, new account fraud – when someone opens an account in your name that you are not aware of – hit a record low in 2014, but continues to be one on the most damaging types of fraud. Data breaches were a big headline in 2014, and they had a significant impact on identity fraud. The study found that two-thirds of identity fraud victims in 2014 had previously received a data breach notification in the same year, with many indicating their wariness about shopping at merchants, including big box retailers.
Javelin Announces 2014 Mobile Banking Leaders Award
USAA tops Best Overall Mobile Banking Leader, while Bank of America, BBVA Compass, Chase, Citigroup, Citizens Bank, Discover Financial, First Republic, Wells Fargo, and others earn several awards too
San Francisco, CA, January 27, 2015: Mobile banking growth was relatively steady in 2014, after a year of impressive growth in 2013. With adoption of tablets and smartphones steadily climbing, mobile banking can be expected to once again increase in 2015. The results of Javelin Strategy & Research’s 2014 Mobile Banking Financial Institution study evaluates the abilities of financial institutions to meet consumers’ growing mobile banking needs, including performance in the key areas of accessibility, functionality, app user ratings, and alerts and notifications. The study finds Bank of America, BBVA Compass, BMO Harris, Chase, Citigroup, Citizens Bank, Citizens Bank, Discover Financial, Fifth Third, First Republic, Regions, U.S. Bank, USAA, Wells Fargo, and other are topping all competitors in mobile banking.