Javelin Strategy & Research

Join us for a BioCatch-hosted webinar with guest speaker, Suzanne Sando, Senior Analyst of Fraud & Security at Javelin Strategy & Research. The impact of identity fraud and scams on victims, both financially and emotionally, cannot be overstated. Victims of financial scams often feel helpless and confused, unsure of where to report the crime or how to resolve the issue. It's not surprising that, by a significant margin, financial institutions are the first place victims turn to for guidance. On August 6th, we will reveal the results of an in-depth study of over 500 scam victims, sharing insights into how victims were targeted, their satisfaction with their bank’s resolution, and more. Register now: https://lnkd.in/exXNQRRz

At a time when account takeover and other identity fraud types are causing significant issues for consumers, the last thing consumers want to hear is that their information was stolen in a data breach. A recent breach affecting Ticketmaster customers underscores why it’s critical that organizations protect themselves against future breaches and have policies in place to secure consumer accounts and information as well as secure consumer trust in the aftermath of such an event. Login to access the report: https://lnkd.in/ep-gV6cS

Target stopped accepting checks in its stores on July 15 due to "extremely low volumes." While it's possible more major retailers will follow Target's lead on checks, it will take a lot for paper checks to go away completely. Javelin's Elisa Athonvarangkul Tavilla says that in some cases, small businesses may still prefer checks over credit cards due to fees. Read more in American Banker: https://lnkd.in/dsxT3_wE

McKinsey & Company research underscores why the mobile app is a crucial tool for cross-selling and relationship deepening: 68% of touchpoints that bank customers have today are with the mobile app, rather than branches, contact centers, ATMs or online banking. More than 40% of credit card and personal loan sales, which are typical cross-sell products, happen in digital channels, a number that is steadily increasing. Javelin Strategy & Research does the same: In a May survey to more than 10,000 consumers, Javelin asked respondents why they don't turn to their primary bank instead of nonbank companies for some typical banking activities. Twenty-two percent said they didn't even consider their primary bank; 23% said they weren't sure if their primary bank offered this.

It’s not clear what open banking will look like or how it will facilitate the secure sharing of financial data, but one thing is certain: It is coming, and digital banking teams must be prepared. Javelin Strategy & Research lays out a strategy and vision for financial institutions as regulations and heightened customer expectations develop. Login to access the report: https://lnkd.in/dRkQr8TQ

Banks are targeting millennial and Gen Z customers in the $57 billion-a-year video game industry, with a Barclays-Microsoft partnership leading the way. Although Barclays hasn't disclosed the details of the arrangement, Javelin's Brian Riley shares insights into what typically occurs in such partnerships. Read more in The Wall Street Journal: https://lnkd.in/ejN6-NMj

Credit cards represent the largest risk item in the recently completed banking stress tests mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act. Potential losses under the hypothetical economic event prescribed in the 2024 tests exceeded $600 billion, $175 billion of which was represented by credit cards. This should prompt strategic moves by credit card program managers and a tightening of standards given the rising tide of charge-offs. Login to access the report: https://lnkd.in/evxm_Hrt

The defective content update pushed out by cybersecurity firm CrowdStrike on July 19 affected 8.5 million Windows-based devices worldwide, the ripple effects of which are still being felt three days later. The so-called Blue Screen of Death outage is attributed to CrowdStrike’s Falcon endpoint detection and response (EDR) software, which is widely used to protect systems from cyberattacks and malware infections. In this note, Javelin Strategy & Research highlights why financial services companies relying on third parties must ensure they have real-time responses from vendors for key services. This note also explores risks financial institutions continue to face because of outdated business continuity and disaster recovery planning and strategy. Login to access the report: https://lnkd.in/eCksWHwq

A market scan by Javelin Strategy & Research found that few banks and credit unions are active in embedded lending, leaving fintechs such as Affirm, Afterpay, Apple, Klarna, and PayPal to dominate a market that Javelin has previously forecast will grow at a 19.5% compound annual growth rate through 2027. But a Consumer Financial Protection Bureau decision in May could rebalance the playing field, opening the door for traditional financial institutions to take a more aggressive stance, particularly in six specialized markets. Login to access the report: https://lnkd.in/epWAJ6VF

Javelin's Elisa Athonvarangkul Tavilla shares her perspective on the first year of FedNow, the Federal Reserve’s real-time payment service. She explains how the Fed's marketing effort has boosted awareness and accelerated adoption for other real-time and faster-payment rails like RTP and Same Day ACH. Read now in Digital Transactions: https://lnkd.in/eAvAaRXm