The growing complexity of consumers’ financial lives increases the opportunities for fraudsters, but also provides new tools for financial institutions to secure accounts and engage with accountholders. Javelin’s 2017 Account Safety in Banking Scorecard analyzes the customer-facing security measures of 28 of the largest depository financial institutions in the US. Scorecard performance highlights many areas where financial institutions must focus their resources to appropriately protect their accountholders, especially around crucial prevention features, which continue to suffer from low adoption.

Key questions discussed in this report:

  • What customer-facing security measures do major financial institutions offer?
  • How do key fraud trends, such as data breaches and the growing sophistication of mobile malware, impact account security?
  • What security solutions and fraud mitigation controls should financial institutions invest in to generate the most substantial fraud-reduction benefits?
  • How can financial institutions most effectively facilitate banking in emerging channels, while still securing customers’ accounts?

Companies Mentioned: Ally Bank, Bank of America, Bank of the West, BB&T, BBVA, BMO Harris, Capital One, Chase, Citi, Citizens, Comerica, Fifth Third, First Republic, HSBC, Huntington, Key Bank, M&T, NFCU, PNC Bank, Regions, Santander, SunTrust, TD Bank, U.S. Bank, Union Bank, USAA, Wells Fargo, Zions Bank