Check out the latest Javelin Press Releases and News sightings:
$16 Billion Stolen from 12.7 Million Identity Fraud Victims in 2014, According to Javelin Strategy & Research
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.
Consumers Crave Digital Account Opening Capabilities
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.
Money on My Mind and Wrist: Fidelity Launches Apple Watch App
FinancialPlanning - Pushing its app on the same day as Apple's big show is an example of a company taking advantage of a first-mover branding opportunity, says Mark Schwanhausser, Director of Omnichannel Financial Services at Javelin Strategy & Research. “The ROI is about establishing that you’re a first-adopter that is...
Identity theft: 4 trends to watch
Fortune - “Last year wasn’t a record for breaches,”finds Identity Fraud study. “But it captured the public’s attention. You had state attorneys general coming out of the woodwork demanding credit monitoring and other protection for victims. With all of that the best we could manage was a 3% decline.Read More