Javelin News

Apr 9, 2014

Wall Street Journal- "At a time when banks are struggling with revenue and profit growth, mobile banking is emerging as a critical weapon in the battle to retain customers and cut expenses. The average cost to a lender for a mobile transaction is 10 cents, about half that of a desktop-computer transaction and far less than the $1.25 average cost of an ATM transaction, according to Javelin Strategy & Research study."

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Apr 1, 2014

ABA Banking Journal- "The year 2013 saw an enormous influx of consumers flocking to mobile banking, with 74,000 new users joining mobile banking each day, says Javelin Strategy & Research in a recent study."

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Mar 17, 2014

Bank Systems & Technology- "It is no surprise that Amazon is following PayPal's example by entering the brick-and-mortar space, as PayPal is the far-and-away leader of alternative online payments," said Nick Holland, who led this study at Javelin Strategy & Research, in a statement. "For mainstream e-commerce players, the hybrid approach of online and brick-and-mortar presence will be critical for success. Consumers continue to prioritize the experience of shopping, leading to ultimate brand loyalty and overall convenience."

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Mar 11, 2014

American Banker- "Mark Schwanhausser, director of onmnichannel financial services at Javelin Strategy & Research, says that that the [Wells Fargo Stories] online magazine could go a long way toward enhancing the bank's brand. This is straight from [the] textbook on Branding Banks on Social Media 101: Tell stories that build your brand,"

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Mar 3, 2014

American Banker- "It's interesting to see Jay's bank take this assertive move into mobile," says Jim Van Dyke, the chief executive of Javelin Strategy & Research. "With just 14 branches to support a lot of customer assets, this gives them the retail-expansion option to go the route of the two clear consumer mobile-usage leaders in the U.S.: USAA and Navy Federal Credit Union."

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Mar 3, 2014

BankNXT-This sizable millennial group is currently going through a major transition. By 2025, Gen Y will account for 46% of the nation’s income,” said Javelin analyst Aleia Van Dyke.... Thus, as this generation comes of banking age, there’s more and more a need for a targeted, technologically driven approach to help young adults become financially literate.“

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Mar 3, 2014

Yahoo Finance- Identity thieves are not restricting their efforts to bank accounts. The report showed that identity fraud carried over to other financial accounts where consumers keep their money, such as on eBay and PayPal. These thefts tripled last year and accounted for $5 billion in losses.

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Feb 7, 2014

New York Times- As with any data breach, the thieves may not put all the card numbers up for sale. Buyers may not buy all the ones on the market and may not use everything they buy. Then there is the publicity, vigilance and preemptively canceled cards that resulted from the large numbers of people involved. “For now, everyone is watching this like a hawk,” said Al Pascual, Javelin’s senior analyst of security, risk and fraud."

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Feb 5, 2014

MarketWatch- "The total amount of money the criminals stole dropped from $21 billion in 2012 to $18 billion in 2013. Al Pascual, a senior analyst of security, risk and fraud for Javelin Strategy & Research, says this may have to do with the fact that new-account fraud—whereby a fraudster opens a new account in the victim’s name—dropped in 2013 to $5 billion, down from $10 billion in 2012"

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Feb 5, 2014

FOXBusiness- "A new identity fraud victim was hit every two seconds in America in 2013, with the number of victims climbing to 13.1 million over the year, according to Javelin Strategy & Research’s 2014 Identity Fraud Study. This is an uptick of more than 500,000 victims in 2012."

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Feb 4, 2014

Yahoo Finance- "But only 17 out of 25 major banks, like Chase and Bank of America, extend that protection to debit card PIN purchases or ATM withdrawals. According to a report from Javelin Strategy and Research, institutions including Citizens Bank and PNC don’t cover these types of transactions"

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Dec 31, 2013

Fox Business- "Somewhere down the line, consumers will be able to use Facebook or Twitter to check bank account balances," says Mark Schwanhausser. "It behooves financial institutions to change the kind of questions and find another way to verify who the customer is."

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Dec 20, 2013

Fox Business- "NFC is kind of taking a backseat in terms of other mobile payments," Aleia Van Dyke says. "We've really seen a greater adoption of bar codes and cloud systems, which I think will be carried on in the future. It's a much easier system to implement."

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Dec 20, 2013

Mainstreet - Think again: the store's massive data breach is likely to cost you some $4 billion, according to Javelin Strategy & Research. "The numbers are so big .

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Nov 30, 2013

The Fresno Bee - "Yes, it's an explosion," said Mary Monahan, executive vice president and mobile research director for Javelin Strategy & Research in Pleasanton. According to Javelin's most recent report, 1 in 4 mobile phone users were doing mobile banking in 2012.

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Nov 21, 2013

Bank Innovation - According to Javelin Strategy & Research, 73% of financial institutions (FIs) offer SMS text banking, browser-based banking and downloadable apps, and 45% of consumers have accessed mobile banking in the past 90 days.

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Nov 15, 2013

Bank Info Security - Al Pascual, senior analyst for the consultancy Javelin Strategy & Research, says breaches like the one that struck Loyaltybuild, the third-party loyalty branding company in Ireland, reinforce the need for more oversight of outsourcers and other third parties.

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Nov 5, 2013

ABA Banking Journal- "Mobile wallets threaten existing providers as they can disrupt the relationship between customers and their primary banks at the point of sale," says Mary Monahan, director of Mobile at Javelin Strategy & Research.

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Oct 14, 2013

Forbes - According to recent study, younger, tech-savvy customers who could be persuaded to pay bills at their financial institution. But for now, 70 percent of them prefer to pay at the biller site.

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Oct 14, 2013

Fox Business--Willis Report - Javelin Strategy market researcher Daniel Van Dyke on the new app that allows consumers to use smartphones to get cash from an ATM

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Oct 10, 2013

CU Times - At a lively Money2020 panel on Wednesday, moderated by Javelin Strategy & Research executive vice president Mary Monahan, who said, “The impediment to m-commerce is data entry. We need to make it really simple to authenticate the user and for the user to buy. Then it will happen.”

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Oct 9, 2013

CNN Money - Mary Monahan, of Javelin Strategy & Research, says cardless ATM transactions using FIS technology generally take less than nine seconds compared to 30 or 40 seconds for a traditional ATM withdrawal.

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Oct 2, 2013

Credit Union Times - Mary Monahan,  executive vice president and research director of mobile with Javelin Strategy + Research, said her research indicates that “consumers trust their financial institutions with their money and their preference is that this is where they will also get their digital wallet.”

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Oct 1, 2013

ConsumerReports.org - Now the top 10 credit unions have caught up, and many smaller ones have added, or are working to add, smart-phone banking, says Mary Monahan, an executive at Javelin Strategy & Research, a California market research firm. And new competitors have entered the fight for your dollars.

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Sep 30, 2013

Fox Business - “Half of consumers right now have a smartphone, and about half of those are using mobile banking,” says Alphonse Pascual, senior analyst, security, risk and fraud at market research firm Javelin Strategy & Research. “Mobile banking does leave consumers open to having information stolen.”

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Sep 26, 2013

Bank Info Security - Al Pascual, a fraud expert and analyst with Javelin Strategy & Research, says banking institutions should be concerned about any malware, such as Beta Bot, that proliferates. "For now, it is not, apparently, designed to function as a banking Trojan," Pascual says. "While this is good news, it has all the basic components in place to become just that; so this should stay on the radar."

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Sep 26, 2013

American Banker - "It affects the merchant acquiring arm of banks that offer e-commerce processing platforms," says Nick Holland, a senior payments analyst at Javelin Strategy & Research. "If I was a merchant using an existing payment platform offered by a processor, Braintree/PayPal … may now be a choice that looks far more like an industry grade solution."

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Sep 3, 2013

Time - "And make sure the app you download is the real McCoy," says Al Pascual, a senior analyst of security, risk and fraud at Javelin Strategy & Research. “Apple, BlackBerry, Google and Microsoft vet the apps that are available for download through their official app stores, whereas apps from alternate sources may not be verified and could harbor malware,” he says.

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Aug 27, 2013

Bank Info Security - In light of recent retail breaches, courts are likely to start holding retailers more accountable than they have in the past for financial losses that result from fraud, says Al Pascual, a financial fraud expert and senior analyst at the consultancy Javelin Strategy & Research.

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Aug 21, 2013

Consumer Reports - "As long as the shift to EMV is being put on the back burner in the U.S., we’re going to continue to attract criminals from overseas who are withdrawing millions in cash-out fraud at ATMs in the U.S.,” said a Javelin security analyst, Al Pascual."

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Aug 15, 2013

Boston Globe - "PerkStreet’s failure is a reminder that disrupting the traditional bank model is difficult," said Jim Van Dyke, president and founder of Javelin Strategy & Research, a California firm that tracks bank innovation and technology. "A good debit rewards program is not enough to entice customers to leave their bank, where they may have multiple accounts and their mortgage and other products," Van Dyke said.

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Aug 3, 2013

Tribune Review - “The Schnucks breach was the result of random access memory malware,” explained Al Pascual, a senior analyst of security risk and fraud at Javelin Strategy & Research, a California company that advises the payment industry. “That means there's malicious software at the point of sale. After a card is swiped, the data goes into the register, then it goes to random access memory on the computer itself, and this malware pulls it right off the memory before it's transmitted somewhere else.”

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Aug 1, 2013

New York Times - Some banks have introduced second-chance checking accounts for people who may not qualify for traditional bank accounts. The databases, the banks say, are an important tool to root out fraud, a problem that continues to bedevil them. Losses from fraud on new bank accounts doubled from 2011 to 2012, according to Javelin Strategy and Research, surging to $9.8 billion last year.

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Jul 30, 2013

New York Times - Culling information from the databases is one prong in an assessment, as lenders vet potential customers and screen for fraud. Losses from fraud on new bank accounts surged to $9.8 billion last year, up 50 percent from a year earlier, according to Javelin Strategy and Research.

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Jul 11, 2013

Digital Transactions- Biometric authentication will be in widespread use by financial institutions and online merchants by 2015, a payments-security expert predicts. “We’re at the threshold, it’s going to be common in the next year or so,” Al Pascual, a senior analyst at Javelin Strategy & Research, tells Digital Transactions News.

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Jul 2, 2013

Credit Union Times- Financial institutions are reaping huge cost savings as consumers, in droves, switch from brick and mortar banking to mobile banking, but most are leaving money on the table because they fail to take a few, small steps to modify consumer behaviors, claims a new study from Javelin Strategy & Research. Javelin numbers peg the average cost of an in-branch transaction at $4.25. The same transaction performed with a mobile device costs a dime, said Mary Monahan, who underlined that this highlights the economic incentives in driving mobile traffic.

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Jul 1, 2013

The Point of Sale News- Javelin Strategy & Research released a report in mid-April that found mobile POS technology could be taking over traditional “cash register” payments. Javelin estimates that mobile POS could expand payment card acceptance by up to 19 million businesses, which could account for up to $1.1 trillion in annual new-card payments.

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Jun 26, 2013

American Banker/Bank Technology News- Alerts on paper sound great," says Mark Schwanhausser, director of omnichannel financial services at Greenwich Associates-owned Javelin Strategy & Research. "Everyone wants to have a way to communicate with customers in a personalized way without costing too much. Notoriously, [banks'] alerts are substandard," Schwanhausser says. "If [the bank] alerts you to nonsense, the downside is people will start to ignore alerts and maybe not sign up for them in the future."

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Jun 25, 2013

MainStreet- Probably, say many experts, not even the threat of the liability shift will be enough to prod the U.S. into chip and PIN, certainly not by 2015. "We project there will not be broad adoption before 2017," said Al Pascual with Javelin Strategy & Research.

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Jun 11, 2013

Times- The NSA conceivably could — and probably would — be able get the names of individual account holders from banks issuing credit cards. ”I don’t see how you would anonymize it,” says Al Pascual, senior analyst for security, risk and fraud for Javelin Strategy & Research.

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Jun 11, 2013

NBC- Al Pascual, senior analyst for security, risk and fraud at Javelin Strategy & Research, is watching to see how this all plays out. He says a kill switch might solve part of the problem – cutting the value of a stolen phone – but it won’t keep a thief from stealing all the sensitive information stored on the device. “The information on that phone is much more valuable than the phone itself and it can be used to fuel identity theft,” Pascual said.

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Jun 6, 2013

New York Times- "Javelin’s 2013 Data Breach Fraud Impact Report finds that data breaches are increasingly correlated with fraud; if your personal information is compromised in a data breach, you are much more likely to end up being a victim", said Al Pascual, a senior security, risk and fraud analyst at Javelin.

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Jun 5, 2013

PaymentSource- Javelin estimates the Global Payments breach that started in 2011 will result in $708 million in losses from 428 fraud cases, averaging $1,654 each.

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May 8, 2013

PaymentsSource- "Prepaid purchase volume, estimated at $150 billion this year, will grow by almost $45 billion over the next five years. Banks can offer a prepaid product to the consumer and maybe transition them into a higher level checking account in the future," says Aleia Van Dyke.

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Apr 29, 2013

Associated Press- A 2012 security breach that exposed the personal information of 780,000 Utah residents to hackers could cost as much as $406 million, a new Javelin study finds.

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Apr 29, 2013

Dark Reading- A year-old data breach of a Utah Department of Health (UDOH) server......the victims will likely pay much more: $406 million in fraud losses and $94 million in other costs, including the estimated 2.4 million hours needed to resolve the fraud, according to Javelin.

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Apr 24, 2013

PaymentSource- Mobile point of sale systems could expand card acceptance by adding as much as 20 million merchants, resulting in a potential $1.1 trillion uptick in annual card payments, Javelin Strategy and Research says in a new report.

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Apr 19, 2013

American Banker- According to Javelin's Al Pascual, banks should especially address business owners and mobile banking users during outages. "Those are critical segments that banks need to tend to," Pascual says

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Apr 9, 2013

Mobile Marketing Watch- Over the next six years, an industry-wide push for mobile technology will help propel mobile payments to astonishing growth and will allow mobile POS proximity payments to reach $5.4 billion by 2018, today’s report from Javelin Strategy & Research forecasts.

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Apr 5, 2013

Credit Union Times- Javelin Strategy & Research recently evaluated the state of PFM and found that nearly one in two U.S. consumers want a single view of their finances in one place. However, not all PFM tools are created equal. Here are five essential features to look for in a PFM.

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Apr 4, 2013

Boston Globe- In a study of Generation Y’s banking habits published in January, Javelin found that 40 percent of 25-to-34-year-olds — more likely than anyone else to bank online — said they prefer completing transactions with a teller, according to Mark Schwanhausser.

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Apr 3, 2013

Bank Systems & Technology- “We’re seeing a big push for mobile payments (in our latest research study). . . You can look at some of the big merchants who have seen success with loyalty programs that involve mobile, such as Starbucks,” Aleia Van Dyke, payments analyst for Javelin.

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Mar 14, 2013

Digital Transactions- We’re seeing some loosening of the standards in that consumers who were turned down for credit a few years ago are getting it today,” says Beth Robertson...(the) numbers confirm what Javelin found in an October survey of consumers’ payment preferences at the point of sale.

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Mar 13, 2013

Bank Systems & Technology- Fraudsters have already developed means to attack mobile devices. “These [mobile devices] are being targeted. We’re seeing Zeus, Citadel and other malware making their way to mobile." according to Al Pascual, Sr. Analyst of Security, Risk and Fraud at Javelin, said during a panel session Monday morning (at BAI Payments) about the top issues in mobile fraud.

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Mar 1, 2013

Bank Systems and Technology- Nearly half of U.S. consumers want to view all of their financial account balances in one place, according to a new report from Javelin Strategy & Research.

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Feb 25, 2013

Digital Transactions Mary Monahan notes that the Visa-Samsung pact casts the spotlight on the issuer side of mobile payments at a time when most of the recent attention has been on merchant side. “It’s all chicken-and-egg, . . ..

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Feb 21, 2013

Bank Technology News - Merchant payment processing is one incredibly fragmented market, despite years of consolidation......According to Jim Van Dyke, "makes you wonder if and when Square will launch a significant foray into mobile POS payments that benefits consumer, merchant and bank."

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Feb 20, 2013

Bank Systems and Technology- More than $21 billion was stolen due to identity fraud in 2012, the highest figure since 2009, according to a new report from Javelin Strategy & Research.

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Feb 14, 2013

American Banker- "Mark Schwanhausser, director of multichannel financial services at Javelin Strategy & Research, kindly pointed me to a few consumer-facing (PFM) tools, HomeBudget with Sync, ....."

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Feb 13, 2013

Bank Info Security- Financial fraud consultant Al Pascual notes: "The industry should remain guarded, but other industries should take note, as Izz ad-Din al-Qassam could potentially change their primary target after sharpening their teeth on the financial industry.

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Feb 7, 2013

U.S. News- Mark Schwanhausser, a Javelin Strategy & Research analyst who studies platforms consumers use for banking disputes, thinks consumers have the upper hand on Twitter. (In recent report), Banks have to control their brand and their messages, and now they have to do it at lightning speed," he says. "It's not easy."

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Feb 5, 2013

MIT Technology Review- "Virtual currency has long been used to buy items within online games (and, more recently, apps). The market for virtual currency totaled about $3.7 billion in the U.S. alone during 2012"

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Jan 15, 2013

ABA Banking Journal- "Javelin found that iPhone users spend 49% more shopping through the mobile browser than through the mobile app...... says Javelin Strategy & Research in a recent report."

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Jan 9, 2013

American Banker- "It's a great use of mobile technology…it's very easy to 'fat finger' and enter data into touch screens and make a mistake. Using the image helps with accuracy, and it's going to be more convenient as long as it's done in a secure way," says Mary Monahan, a research director for Javelin Strategy & Research."

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Jan 4, 2013

Network World- "While no DDoS attacks have been linked to mobile devices, Pascual is convinced it's only a matter of time. A recent Javelin survey found that less than a third of mobile devices in the U.S. had security software, which meant more than 102 million devices were unprotected."

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Jan 2, 2013

Bank Systems & Technology- "Consumers who use Android and iPhone devices to conduct mobile payments and mobile banking are top targets of fraudsters, according to a new report from Javelin Strategy & Research."

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Jan 1, 2013

Bank Systems & Technology- "Americans are projected to increase purchases made with prepaid cards by 5.3 percent annually to $139.4 billion in 2017, according to a recent study led by Beth Robertson,"

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Dec 21, 2012

Bank Systems & Technology- "..if consumers begin to perceive that the inability to access their financial accounts.... the resulting flight to safety will be a migration of consumer financial activity from the affected banks to trusted alternative solution providers."

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Dec 7, 2012

Banker & Tradesman- "Citizens Bank tied with USAA for "best integrated apps" .....according to latest report. Javelin's report noted that mobile banking is now used by 33 percent of mobile consumers, up from 24 percent in 2011avelin Strategy & Research, those banks earned an average customer rating of 4.25 out of 5 stars"

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Dec 4, 2012

American Banker- "Jim Van Dyke says Greenwich Associates' services complement Javelin's with no overlap. "We instantly have global reach and can bring our depth in areas like mobile and fraud from our consumer market to their strength in wholesale, commercial and the asset sector.""

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Dec 4, 2012

The Washington Post- "The study found that the most common way criminals use a child’s personal information is to combine his or her Social Security number with a different date of birth to create a new identity. Javelin Strategy & Research calls this “synthetic identity,” which is especially difficult to detect."

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Nov 23, 2012

Financial Times- "Brick and mortar stores now have to accommodate consumers more,” said Mary Monahan, a mobile analyst with Javelin. “They have to merge their online presence with their physical presence."

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Nov 16, 2012

LowCards.com- A Javelin Strategy & Research study reveals over $20.7 billion in sales took place on mobile devices last year.

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Nov 13, 2012

Bank Information Security- “Institutions should not try to compete for mobile payments share with social media giants such as Google and Facebook, but they should stake their claims as the experts in transactional security," says Al Pascual, an industry analyst for security, risk and fraud for Javelin Strategy & Research."

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Nov 1, 2012

American Banker- “The crooks used basic credentials to get in. It would have been better to increase and strengthen the type of authentication required," says Al Pascual, an industry analyst for security, risk and fraud for Javelin Strategy & Research."

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Oct 29, 2012

Buffalo News- Banks say the fees are necessary to cover their own costs of providing the services, such as servicing a checking account or maintaining a vast network of ATM machines. A report by Javelin Strategy & Research said maintaining an account costs a bank as much as $400 a year.

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Oct 25, 2012

MarketWatch- ... “Some 44% of all consumers are drawn to financial institutions that consider taking such robust authentication measures to ensure people are who they say they are" according to a new Javelin research report” ...

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Oct 23, 2012

New Tech City (WNYC)- ... “One day we may even be doing our banking on Facebook. But Mark Schwanhausser says that technology (which is being tried out in South Africa) won’t come to the U.S. anytime soon.” ...

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Oct 10, 2012

Mary Monahan Javelin Strategy Mobile Industry AnalystFox Business TV- ... “"Security a top concern with mobile payments according to Mary Monahan at Javelin Strategy & Research” ...

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Oct 9, 2012

US News--Money Finance- ... “"Consumers view this (remote deposit via a mobile device) a desirable value-added service, so you are going to see a larger number of banks continuing to offer this capability, according to Beth Robertson at Javelin Strategy & Research” ...

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Oct 1, 2012

NRF Retail BIG Blog- ... “Prior to reform, debit card swipe fee cost retailers and consumers $22 billion a year, driving prices up an average $192 a year, according to Javelin Strategy & Research ” ...

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Sep 26, 2012

Wall Street Journal - ... “Mobile payments and purchasing at the physical point of sale have experienced little adoption in the U.S. marketplace despite abounding innovation in mobile and payments technologies," according to a new 38-page report on the mobile-payments industry from Javelin Strategy & Research ” ...

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Sep 13, 2012

Bloomberg News - ... “First and foremost, there’s the issue of money keeping underbanked under-banked,” Mary Monahan, Javelin Strategy & Research wrote in a June 14 blog post. “They just don’t have the funds to maintain an extravagant banking relationship; their income is lower and their budget is tight.” ...

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Sep 11, 2012

New York Times - ... “Seniors are much less likely than younger Americans to be monitoring their financial accounts for possible unauthorized activity,” Mr. Van Dyke said. Many people don’t know the bad news until weeks or months later when they hear it from their bank or card company ...

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Aug 30, 2012

Bank Systems Technology - ... Banks can revitalize their online banking and bill pay products by shifting from a traditional transactional role to a more consultative one, says Javelin Strategy & Research. Banks can revitalize their online banking and bill pay products by shifting ...

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Aug 22, 2012

MarketWatch - ... with its own proprietary credit cards to PayPal, though they could recoup “what might be lost in direct fees from the merchants” by processing transactions for PayPal, said Beth Robertson, director of payments research with Javelin Strategy & Research

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Aug 1, 2012
FoxBusiness - More than 11.6 million Americans were victims of some kind of identity fraud in 2011, according to Javelin Strategy & Research.
Jul 31, 2012

FoxBusiness - The ease of use is beginning to attract consumers. Pleasanton, Calif.-based Javelin Strategy & Research expects 60 million American households to be using person-to-person payments by 2014.

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Jul 30, 2012

ZDNet - Tom Wills, senior analyst for risk, fraud, and security at Javelin Strategy & Research, noted that mobile POS in Asia is "not ready for prime time" just yet. The biggest challenge lies in the "cash culture that is deeply ingrained in all Asian countries", with the exception of Japan and South Korea, he stated.

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Jun 21, 2012

MSNBC.com- The report says customer dissatisfaction runs high at four megabanks: Bank of America, Chase, Citibank and Wells Fargo.

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Jun 13, 2012

TIME- At stores, debit cards now make up 31% of sales volume, followed by credit cards at 29% — cash makes up 27%, and Javelin says this will drop by four more percentage points in five years.

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Jun 7, 2012

Bank InfoSecurity-Almost nobody is connecting their mobile customer empowerment strategy for protection through real-time alerts, and a lot of people respond and set a parameter, kind of like we've done with positive pay for checks but with all transactions through the mobile device, according to Jim Van Dyke.


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May 24, 2012

USA Today- Prepaid cards often come with fees associated with everything from calling customer service to using an ATM - users reported paying an average of about $2 every time they wanted to reload money on their cards, according to a study by Javelin Strategy and Research.

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May 21, 2012

ABA Banking Journal- While consumers are beginning to embrace digital financial management, they remain hesitant to dive in completely, according to a recent report by Javelin Strategy & Research.

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May 8, 2012

Bank Systems & Technology- In order to achieve a truly "paperless" institution, banks must not seek to simply to displace paper, or to replicate the utility of paper, but create something better than paper, according to Javelin. Banks can begin to achieve this by thinking even more broadly about how to put the customer's interests first, the report states, and implementing the Javelin seven-point "customer-driven architecture" plan.

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Apr 24, 2012

US News- Beth Robertson, Javelin's director of payments research, says "They want the ability to control their cash flow." Prepaid cards are typically marketed to young people who can't qualify for a standard credit card, or to people with bad or no credit history..

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Apr 10, 2012

Bank Technology News - Are banks missing opportunities to offer more useful bill payment services? A new report issued today by Javelin Strategy & Research suggests creative newcomers, such as Pageonce, Mint, Bill.com, Billeo, Doxo, Manilla, Volly and Zumbox, are gaining traction while banks idle.

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Apr 10, 2012

Star Tribune - Seven percent of smartphone owners were victims of identity fraud in 2011, a one-third higher incidence rate compared to the general public, according to a recent survey by Javelin Strategy and Research.

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Mar 26, 2012

Business Journal - Mary Monahan said the ideal tablet app should go beyond a smartphone app to include features that allow customers to take a deeper dive into information, such as interactive graphs and educational components

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Mar 25, 2012

Wall Street Journal- LinkedIn, a site most users consider more "business" than "social," had the highest identity-fraud incident rate, at 10%, versus 5% for the general population, the Javelin study found.

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Mar 9, 2012

Business Journal - The Gang of Four” innovators in the mobile banking and payment space, according to a new research report by consulting firm Javelin Strategy & Research.

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Mar 2, 2012

Forbes - "The trend only appears to be accelerating"; according to a report by Javelin Strategy and Research, Jim Van Dyke, 5.6 million people moved their bank accounts in the ninety days ending in February, about three times the normal rate.

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Mar 1, 2012

Wall Street Journal - "Javelin Strategy & Research released a report Thursday that estimates that consumers pay 26% more in checking account fees than they would have in 2002.

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Feb 22, 2012

MSNBC - "There's been a rebound. … ID thieves have bounced back," said Javelin President James Van Dyke, explaining that meant about 7.7 million Americans were hit with credit and debit card fraud in 2011, or about 2.2 million more than in the previous year.

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Feb 22, 2012

Reuters - Nearly 12 million Americans were victims of identity theft in 2011, an increase of 13 percent over 2010, according to a report released on Wednesday by the research firm Javelin Strategy & Research.

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Feb 12, 2012

Baltimore Sun - "They really never have had power like this before," Mary Monahan, research director for Javelin Strategy & Research, says of consumers. One of the most successful protesters — and one we can all learn from . . .

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Feb 10, 2012

New York Times - Just as important as fraud alerts, Mr. Blank said, is that the companies “have people extremely experienced who handle this information.” That, he said, “allows consumers to reduce the time around the fraud once it occurs.”

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Jan 29, 2012

Reuters - More than 600,000 U.S. consumers have moved their money from big banks to community banks or credit unions, thanks to the much-publicized Bank Transfer Day last fall, according to an analysis released by Javelin Strategy & Research.

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Jan 26, 2012

U.S. News & World Report - The value of the discount would then be automatically credited back to her account at the end of the month, providing "a nice 'cash-in-hand' perception for the customer," Beth Robertson of Javelin Strategy & Research wrote in a recent post.

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Jan 18, 2012

USAToday - Consumers may remember 2011 as the year of the failed fee. Whether these institutions will succeed depends on what the fees are for, says Mark Schwanhausser, senior analyst at Javelin Strategy & Research. Banks that try to charge fees for things consumers used to get for free will fail, Schwanhausser says. Instead, the industry "needs to find the fees people see value in," he says.

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Jan 11, 2012

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.

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Jan 3, 2012

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.

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Dec 28, 2011

Banking Technology News - Javelin Benchmarking research of over 5,000 consumers illustrates how various factors influence the choice of a new provider in ways that are profoundly different at institutions that we categorized as national, community bank or credit union. Customer service was cited as a significant decision factor by 54% of new community banking customers, versus 44% by those joining credit unions and 39% by those who become a customer of a large national bank. In contrast, online services were cited as a major factor of new customers at 34% at nationals, in sharp contrast to just 20% of those opening a new account at a community bank. The same research shows that large banks are more likely to profit from punitive fees (such as those from overdrafts), suggesting that the myriad new technologies are not fully enabling people to move from a revenue-generation model that is more proactive and less punitive.

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Dec 15, 2011

CBS VideoPodCast- Technological innovation is fueling a revolution in the way we bank and pay for things. Personal financial contributor Carmen Wong Ulrich explains what the future holds.

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Dec 13, 2011

MarketWatch - It's hard to put a price tag on security and privacy, but a recent study of consumers' online and mobile purchasing attitudes conducted by Javelin Strategy & Research and PaymentOne ( www.paymentone.com ) found 4 out of 5 consumers would spend more online if offered an easier and more secure way to pay. The survey also found that by a margin of almost 4 to 1, consumers believe direct carrier-billed mobile payments are more secure than using credit and debit cards for online digital purchases. How much more would consumers spend if they didn't have to share their sensitive personal data or type in a long credit card number to complete their purchase? The Javelin survey finds that online merchants could add aggregated yearly revenue of $109.8 billion, simply by offering an alternative "no-credit-card-required" way to pay at checkout.

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Dec 5, 2011

USA TODAY - Credit card companies have joined in the festivities, offering generous rewards to new customers who use their cards for all their holiday needs. Chase and Citibank are offering $200 cash back if you spend at least $500 within three months of opening the account. But plenty of perils await shoppers who succumb to these offers. Numerous studies show that consumers tend to spend more when they use credit cards than they do when they use debit cards or cash. For example, consumers spend an average of $82.10 for a single online transaction when they pay with a credit card, vs. $58.29 when they pay with a debit card, Javelin Strategy & Research says.

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Nov 29, 2011

Time - Credit card use appears to be on the rise. Oh, so that’s how consumers are paying for all of their Black Friday-Cyber Monday purchases! A Javelin Strategy & Research study indicates that, after several years of declining credit card use among consumers, traditional plastic is poised for a comeback. Beth Robertson, Javelin’s director of payments research, says: “Despite the nation’s very rocky economic recovery, consumers appear to have halted their belt-tightening and bank incentives to use credit cards rather than debit are gaining appeal.” Over the next five years, credit card use for online purchases is expected to rise by 63%, compared to an increase of just 2% for debit cards.

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Nov 22, 2011

The Wall Street Journal - With banks, "there's been a belief that ... we don't want to talk to the consumer about security because we don't want to scare the consumer," said Phil Blank, managing director of security, risk and fraud at Javelin Strategy & Research. However, research Javelin has done suggests that consumers want to be actively involved in managing their accounts through alerts that notify a customer when transactions occur. While more banks have invested in this technology, few have aggressively promoted the services, Blank said. Such services could help customers and their banks more quickly stop fraud like that which occurred in the New York incident by making customers aware when transactions and other activities occur.

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Nov 17, 2011

American Banker - Like a pop star who sells more records posthumously, the Google Checkout payment service may prove most beneficial to Google after it is phased out. Google's mobile wallet is about to absorb the user base of Checkout, the search giant's underwhelming answer to PayPal. Both the online and mobile payment services will be called Google Wallet. By folding Checkout — which is used by 9% of consumers, according to Javelin Strategy & Research — into Google Wallet, Google could catapult the latter well ahead of many competitors in mobile payments.

 

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Nov 11, 2011

Bank Info Security - Mary Monahan, managing partner and research director at Javelin who oversaw development of the 2011 Mobile Banking Financial Institution Scorecard, says mobile banking is one area where consumers, across the board, have high satisfaction rates. And that means financial institutions cannot afford not to jump on the mobile-banking bandwagon. "Mobile banking is a must-have now," Monahan says.

Luckily, most institutions already have some mobile banking offer. Monahan said 23 of the 25 U.S. institutions included in the survey now offer some sort of mobile banking service - SMS/text, downloadable applications, WAP/browser or a combination of all three, also known as a "triple play."

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Nov 10, 2011

MarketWatch - While Cyber Monday, the online version of Black Friday, is the biggest online shopping day of the year, it is also a time when consumers can be careless and open themselves up to the risk of identity theft. This online shopping bonanza marks the start of the holiday season, and IdentityHawk wants to remind consumers to take precautions to protect their identities online and offline. According to Jeff Paradise, executive director of IdentityHawk, "Cyber Monday kicks off the holiday shopping season and the season of being extra vigilant with online identity protection. Identity fraud can be detected online, but it doesn't necessarily start there." Results from the 2011 Identity Fraud Survey Report conducted by Javelin Strategy & Research indicate that of all identity theft victims, 40% had their information misused while making an online purchase, compared to 13% for purchases made over the phone or through the mail.

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Oct 25, 2011

The New York Times - If you’ve ever tried — and failed — to open and fund an online checking account, you’re not alone. A new report from Javelin Strategy & Research finds that only a little more than half of consumers who try to do so are successful. The other half meet with frustration and a quarter abandon the process, Javelin’s report says. The finding doesn’t bode well for banks, especially larger ones, that are facing a great deal of consumer backlash of late, especially over the growth in user fees. Most people apply for accounts online because they expect it to be faster and more convenient (and possibly cheaper, for online-only accounts) than doing it over the phone or visiting a branch, says Mark Schwanhausser, a senior financial services analyst with Javelin.

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Oct 24, 2011

Wall Street Journal - Customers visit online accounts more often than branches, and they are now getting more willing to bank on social media, according to Javelin Strategy & Research, a financial research group. In a recent Javelin survey of 5,102 consumers, 12% of large U.S. bank customers said they would likely use social media to review accounts if it was an option. James Van Dyke, Javelin's founder, said banks are struggling to get customers immersed online—away from using both online and paper—but that social media could help. "To get the full return on investment, you have to get people fully online," Mr. Van Dyke said. "You will start to interact through your bank the same way you interact through social media, totally online."

 

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Oct 19, 2011

Business Week - Consumers who say they’ll switch banks may run into problems. About 53 percent of Americans who applied to open a checking account online this year succeeded in opening and funding an account, according to a study released yesterday by Javelin Strategy & Research, a market-research firm.

 

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Oct 15, 2011

The New York Times - With 44 million households having used the Internet to pay a bill in the past 30 days — up from 32 million five years ago and projected to reach 55 million by 2016 — it’s a shift that has major ramifications for competition. There’s even evidence that fewer consumers are switching banks, with 7 percent of them estimated to be moving their primary account to a different institution in 2011, down from 12 percent last year, according to surveys by Javelin Strategy and Research.

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Oct 12, 2011

Market Watch - With total transaction volume for online retail purchases expected to reach approximately $443 billion by 2015, Javelin's report identifies best practices that merchants can use to boost their online sales revenue. By providing customers with key information on payments options, security features, and liability coverage, merchants can increase purchasing frequency and overall sales revenue.

 

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Oct 12, 2011

MSN Money - Since Oct. 1, banks may receive no more than 21 cents per transaction plus 5 basis points of the purchase price for debit- card transactions, according to a rule issued by the Federal Reserve in June. Lost Revenue That rule will cost the industry about $6.6 billion annually in lost revenue and comes on top of about $5.6 billion in yearly losses from rules that took effect last year prohibiting the companies from automatically enrolling customers in overdraft-protection programs, said Beth Robertson, director of payments research for Javelin Strategy & Research, a market- research firm. “It’s driving banks to try to move more customers into using credit more regularly,” Robertson said of the debit-fee cap. “It’s more profitable for them.”

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Sep 27, 2011

Market Watch - "Authentication is not just a first-line defense against fraud, which last year totaled $37 billion," notes Phil Blank, Managing Director, Security, Risk, and Fraud at Javelin. "It's also a way to increase an FI's customer base. Almost half of consumers in 2011 indicated that robust identity verification methods are compelling features when choosing a new FI. FIs can incorporate messages about successful authentication methods into marketing materials to attract new customers and retain existing ones."

 

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Sep 23, 2011

CreditCards.com - In an August 2011 study, independent research firm Javelin Strategy & Research looked at two dozen ID protection products -- which varied widely in cost and services offered -- from banks, credit bureaus and other companies. While these products have their flaws and are disliked by some consumer advocates who say consumers can get better and lower-cost protection on their own, Javelin still says these products work for consumers. "These services will save you money," says Phil Blank, managing director at Javelin and an author of the report.

 

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Sep 16, 2011

Reuters - You can pay bills with some services, manage your budget with others and organize your financial planning with still another set of programs. But if you want one system where you can auto-pay your cable bill through your checking account, review your mortgage statements from a different financial institution and coordinate payment for soccer sweatshirts on the fly, you're dreaming of a future world that doesn't yet exist. "The industry is at a crossroads," says Mark Schwanhausser, senior analyst at Javelin Strategy & Research, which just released a study on online banking behaviours. "I'd like to be able to see more things in one place, yet banking systems are not yet satisfying those needs. Online banking needs a pick-me-up."

 

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Sep 16, 2011

Reuters - You can pay bills with some services, manage your budget with others and organize your financial planning with still another set of programs. But if you want one system where you can auto-pay your cable bill through your checking account, review your mortgage statements from a different financial institution and coordinate payment for soccer sweatshirts on the fly, you're dreaming of a future world that doesn't yet exist. "The industry is at a crossroads," says Mark Schwanhausser, senior analyst at Javelin Strategy & Research, which just released a study on online banking behaviours. "I'd like to be able to see more things in one place, yet banking systems are not yet satisfying those needs. Online banking needs a pick-me-up."

 

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Sep 14, 2011

Market Watch - Javelin Strategy & Research's latest research report -- "9th Annual Online Banking and Bill Pay Forecast: Megabanks Dominate Moneyhawks(TM) While Paperless Adoption and Online Bill Pay Stall" -- evaluates online banking and bill pay trends by key consumer segments and analyzes transaction behavior, attitudes, and preferences of customers at large, regional banks, community banks, and credit unions. The Javelin report, based on longitudinal surveys conducted with a total of more than 10,000 consumers, provides specific recommendations on how financial institutions (FIs) can address consumer concerns and reinvigorate online banking and bill pay.

 

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Sep 7, 2011
CNN - Federal law requires banks to inform customers of breaches; 46 states have laws mandating that other companies do the same, and big firms typically contact all customers regardless of residency, says Brian McGinley, senior vice president at Identity Theft 911, which advises businesses on security. While the tone of such letters and e-mails is often reassuring, don't be lulled into a false sense of security: Just 4% of American adults are victims of ID theft, but for those who have been notified of a breach, the incidence jumps to 17%, reports Javelin Strategy & Research.

 

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Sep 6, 2011

Time - If you’re going to be doing all your banking online, you’ll want a bank that has a high standard for customer passwords. The bank should prompt you for back-up authentication if you’re logging in from a different computer. Ideally, you’ll also want to have the ability to receive alerts when transactions over a certain dollar amount or outside a particular geographic range are made, says Philip Blank, managing director for security, risk and fraud at Javelin Strategy & Research.

 

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Aug 31, 2011

Fast Company - A survey by Javelin Strategy & Research last March showed that consumers prefer online to other payment methods by two to one. “Whether it’s at a biller site or a bank site is a different question,” said Javelin analyst Mark Schwanhausser. When the firm asked consumers last year about their bank’s website and about dashboard sites like Mint, more than twice as many said they felt safer logging into their own bank.

 

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Aug 23, 2011

Digital Transaction - The big issue now is whether such fees will stick. In a consumer survey last year, Javelin Strategy & Research found that 60% of its respondents said any monthly debit card fee would cause them to switch to another payment form.

 

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Aug 12, 2011

American Banker - "Banks have successfully done the hard work of getting a lot of people to get electronic statements, but they have not been able to get that same group to let go of paper," says James Van Dyke, founder and principal of Javelin Strategy and Research. About a third of JPMorgan Chase & Co.'s customers fall into this category, Van Dyke says, the highest percentage of the top U.S. banks.

 

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Aug 2, 2011

MarketWatch - "Moneyhawks are the future of banking and critical to an FI's success," notes Mark Schwanhausser, Senior Analyst, Multichannel Financial Services at Javelin. "Our research reveals that unhappy Moneyhawks tend to head to Bank of America, where almost half of Moneyhawks bank, or to Chase, preferred by almost one in five. Our report shows FIs what they need to do -- and say -- to keep Moneyhawks from jumping ship and going to competitors."

 

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Aug 2, 2011

Money Rates - If you think twice before accessing banking information on your smart phone, you're not alone. Even though smart phone adoption has jumped, more consumers with mobile banking capabilities are concerned that sharing personal financial information on their phones will open themselves to hacking and fraudulent activity.

According to a 2010 Javelin survey, about 40 percent of smart phone owners said mobile banking made them nervous--up dramatically from 26 percent in 2009.

"It's very clear to us that people are saying, 'I am nervous about using my smart phone to bank,'" Blank says.

In Blank's estimation, financial institutions must address this perception quickly, or else many consumers will never take advantage of mobile banking.

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Jul 28, 2011

American Banker - "If you could imagine a great idea and imagine how to mess it up to get the least acceptance, that's what the banks are producing through their confusing alerts", says Mark Schwanhausser, a senior research analyst for Javelin. "If you think about consumers who don't understand what mobile banking is, alerts are the first thing they see when they deal with money on a mobile device."

 

The stakes are high, as Javelin says more than a third of U.S. adults received an automated alert in 2010 and the analysts expect half the population to be receiving them by 2015. And mobile alerts are on pace to jump from around 13 percent to 21 percent in the same timeframe.

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Jul 25, 2011

Wall Street Journal - More consumers are buying smartphones, but they're not embracing mobile banking at the same pace -- mostly because they have a misplaced fear of it, according to several studies by research firm Javelin Strategy & Research. In 2009, 26% of smartphone owners were uncomfortable using their phones for banking. A year later, that number jumped to 40%, according to the firm. "It's very clear to us the consumer is saying, 'I'm nervous about mobile banking,'" says Phil Blank, managing director of risk, fraud and security for Javelin. If financial institutions don't address that immediately, he says, "This stagnation is just going to continue."

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Jul 19, 2011

Marketwatch - “Mobile banking is the next greatest thing in technology, but the surprising thing is that in spite of the powerful growth of the smartphone, the growth in those who did online banking hardly changed at all,” said Phil Blank, managing director of risk, fraud and security for Javelin Strategy and Research, which compared data from three different surveys taken since 2010.

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Jul 11, 2011

Fortune - If a team of mastermind computer experts wants to hack your company's network, it probably will. But if any rookie hacker with some time to kill can crack your system, that's a problem. And the problem doesn't start with poor technology; it starts with management. Take, for example, the series of hacks on Sony (SNE) that began in April: they were launched by a prank hacker group called LulzSec, which used a method so simple that a high school kid could master it, says Phil Blank, Senior Security Analyst at Javelin Strategy & Research.

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Jul 8, 2011

Entrepreneur - What's more, the problems have likely only expanded as smartphone use has escalated. In the U.S., smartphone ownership grew 60 percent from 2009 to 2010. And then from 2010 to 2011, the increase was 42 percent, according to Javelin Strategy & Research's July Second Annual Antivirus, Browser, and Mobile Security Report.

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Jul 8, 2011

Time - According to a recent study by Javelin Strategy & Research, 70 percent of the biggest credit card issuers in the U.S. use them in at least some cases as a way to verify a customer’s identity when he or she contacts the company. “It’s easy and they haven’t changed their systems,” says Phil Blanks, the study’s author and head security and risk analyst at Javelin. “My guess is they’d tell you they’ve done it this way for years.” Plus, financial institutions collect your Social Security number when you fill out a credit card application (or open a bank account), so they already have the numbers on hand.

 

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Jun 29, 2011

Digital Transaction - Popmoney, however, is CashEdge’s most prominent service. Popmoney’s client list is shorter than ZashPay’s, but it has been in the market longer and its average client is bigger, says Beth Robertson, director of payments research at Javelin Strategy & Research. “What it [the deal] creates is a bigger network for Fiserv,” Robertson says. She adds that both companies have similar “business approaches” in which they were looking beyond P2P payments and toward consumer-to-business and business-to-business payments.

 

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Jun 28, 2011

TIME - Even worse, evidence suggests that while cyber-thieves are getting bolder and more technologically savvy, major card-issuing banks are failing to keep up. That sobering conclusion was reached in a new study conducted by Javelin Strategy & Research. Javelin looked at the online security practices of the 23 biggest credit card issuers and graded them on a 100-point scale. The average result was only 59. “The good news is issuers are dong a better job overall of resolution, but that’s the easiest thing to do. Prevention is the hardest to do but it’s got the biggest payback,” says Phil Blank, head security and risk analyst at Javelin and author of the study.

 

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Jun 28, 2011

Market Watch - Of the 23 card issuers analyzed, Bank of America Corp. came out on top in all three categories — prevention, detection and resolution — to finish its fifth straight year as the best in class in Javelin Strategy & Research’s seven years of roundups.

 

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Jun 27, 2011

Wall Street Journal - Intuit Inc. (INTU) expanded its mobile strategy Monday, buying the Web banking technology of Mobile Money Ventures for an undisclosed sum. Mountain View, Calif.-based Intuit, which streamlined tax preparation with TurboTax, is focusing next on making the phone a primary device for banking and processing transactions. Buying MMV gives Intuit ownership of all the technology used in Intuit mobile banking software that it provides to about 320 U.S. banks and credit unions. After the acquisition, Intuit will be able to better manage customer support and speed product development. ... The Intuit deal recognizes that people are beginning to make the smartphone the "remote control for their financial life," said Mark Schwanhausser, with Javelin Strategy & Research.

 

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Jun 24, 2011
FOX - When consumers are a victim of ID fraud based on interaction with a small business, 1 in 3 never come back,” said Phil Blank, senior analyst for security and fraud at Javelin Strategy & Research. Read Full Article
Jun 20, 2011
USA TODAY - Javelin's 2010 Online Banking and Bill Payment Forecast in October mapped out how banks can cut $8.3 billion in operating costs by shifting consumer behavior online. Read Full Article or learn more about the report
Jun 16, 2011
CNN - Earlier this month, the IMF announced to its faculty and staff that it had suffered a cyberattack, but hasn't released details. There has been speculation that the attack received funding from a foreign government, says Phil Blank, a senior security analyst at Javelin Strategy & Research, but there's little public proof. "To be able to create the attack from that distance requires a substantial infrastructure, IT work and research," he says. "Generally speaking, that is out of the scope of most individuals, and it's probably not corporate espionage." - Read Full Article
Jun 13, 2011
Reuters - For many, China topped the list of suspects. Chinese hackers have been suspected of being behind several recent data theft attempts including one aimed at breaching the security of Google's Gmail on accounts belonging to activists, US officials and others. Beijing angrily denies any government link. But experts say almost every sophisticated state indulges in electronic snooping, whilst independent hackers potentially working for militant groups or even banks or investment funds could also be in the frame. Philip Blank, an expert on security, risk and fraud at San Francisco-based Javelin Strategy & Research said the IMF "would be an extraordinarily attractive target." Other financial industry insiders agreed. Read Full Article
Jun 8, 2011
Bloomberg - In April, the Commerce Department proposed creating a universal online identification system to improve the security of Internet transactions. The effort seeks to combat online fraud, which last year cost U.S. businesses $37 billion, according to Javelin Strategy & Research, a Pleasanton, California-based research group. Read Full Article
Jun 2, 2011
Amercan Banker - "It's a conundrum. I'd say hardware is even worse than the software," said James Van Dyke, the president of Javelin Strategy & Research in Pleasanton, Calif. "Every one of those things, we are talking about several hundred dollars, maybe thousands of dollars, for every one of those registers." Read Full Article.
Mar 23, 2011
MoneyNews.com- Interest income for the largest 25 U.S. banks was down 15 percent in 2010 compared with 2007, Moore said. Regulation requiring consumers to opt in for overdraft checking protection will cost banks an estimated $5.6 billion annually, according to Pleasanton, California-based Javelin Strategy & Research. Read Full Article
Nov 22, 2010
Daily Finance- "Two-way interactive alerts are going to become, in time, one of those must-have capabilities," said Mark Schwanhausser, senior analyst with the payments consulting firm Javelin Strategy and Research. "It's not enough to alert people to a problem, you also have to give them a way to solve the problem." Read Full Article
Mar 17, 2010

Washington Post-"Millennials don't protect enough or detect enough," said James Van Dyke, president of Javelin Strategy & Research, a California-based company that examined where identity theft threats are coming from and what effects they are having on consumers.

It takes young people an average of 132 days to detect fraudulent activity on their credit cards, bank accounts and other personal holdings, and those in older age groups average 49 days, the survey shows. When their identities are stolen, millennials are victimized by thieves for an average of about five months. Read Full Article