Pressroom

Sep 28, 2010
Javelin Report Reveals Down Economy Spurred Sharp 42% Decline in Adoption of ID Fraud Protection Services Despite 12.5% Increase in Number of Fraud Victims

San Francisco, CA, September 28, 2010 – According to a new Javelin Strategy & Research report issued today, the $2.4 billion Direct‐to‐Consumer U.S. Identity Protection Market saw a sharp 42% decline in Identity Fraud Protection Services adoption, despite a 12.5% increase in the number of U.S. adults who became victims of identity fraud in 2009.  The report also reveals Javelin’s “Best in Class” vendors for 2010, to help consumers find the best identity theft protection services for them when battling this pervasive threat.  

Javelin’s fourth annual report, “2010 Annual Identity Protection Services Scorecard: Market Challenges, Consolidations and the Move Toward ‘Whole Identity’,” found that although consumers who detected fraud using a credit report or credit‐monitoring service enjoyed a dramatic decrease in losses for average fraud amounts, fewer Americans are turning to identity fraud protection services due to the down economy and a decline in reported data breaches. “We believe that providers of identity protection services will achieve the greatest long-term success with...
Sep 23, 2010
Javelin: Mobile Banking Poised for Steady Growth over the Next Five Years

San Francisco, CA, September 23, 2010 – A new Javelin Strategy & Research report issued today – “2010 Mobile Banking and Smartphone Forecast: Fast Growing Smartphone Market Will Offset Lost Momentum in Mobile Banking” – finds that the exponential adoption of smartphones has helped stabilize mobile banking rates, which slowed in 2010 due to the dramatic drop in U.S. mobile phone penetration. Javelin predicts that mobile banking growth is poised to begin a steady and upward growth trend in 2011.

“The sharp decline in the economy and in the number of mobile phones is creating an ever-widening landscape of the ‘haves’ – who are becoming smartphone owners – and the ‘have nots,’ – who are giving up their mobile phones because they can’t afford them,” said James Van Dyke, President and Founder. “While it may take several years for the overall number of mobile phones to recover to 2009 levels, the swift increase in smartphones will drive mobile banking growth.” More than a third of smartphone owners – and well over half of iPhone owners – use mobile banking, which is over double that of all consumers.

Javelin...
Mar 17, 2010
Javelin: To build successful social networks, financial institutions must overcome consumer wariness about mixing social media and banking

San Francisco, CA, March 17, 2010 –
In a new report issued today, Javelin Strategy & Research  states that leading financial institutions are blazing a social media path by interacting with consumers in the increasingly popular social networks where they congregate and communicate – Facebook, MySpace, LinkedIn, Twitter, YouTube, blogs and other forums. Rapid adoption of social networks in 2009 led to 52% of all U.S. adults who have online access now spending time on social networks. Despite the popularity of such sites, 47% of consumers consider social networks to be unsafe and considerably fewer consumers would use them for banking.

The Social Media and Banking report, which examined consumer data about the use of and concerns about mixing social networks and banking, advises financial institutions to devise a social media security strategy now in order to protect their brand, mitigate fraud losses and retain customers. Initial efforts should target younger consumers, Asians and Latinos, who are significantly more likely to interact with their financial institutions...

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