Abstract
Overview
The Javelin Card Issuers' Identity Safety Scorecard analyzes the top 25 U.S.
card issuers' methods of protecting customers from identity fraud. Each year,
Javelin incorporates data from annual household, consumer, and issuer surveys
using the Prevention, Detection and Resolution™ criteria to accurately
reflect customer demands and trends in how issuers protect against fraud. The
objective of the scorecard is to: 1) provide comprehensive information on each
issuer' s fraud protection services; 2) address consumer perception and
knowledge of identity fraud; and 3) foster a partnership between cardholder
and issuer to mitigate loses and prevent against future instances of fraud.
Primary Questions
- Which card issuers are best in securing consumerfacing identity fraud
Prevention, Detection, and Resolution capabilities?
- Which customer-facing card features should issuers have in place to combat
constantly evolving identity fraud threats?
- How can issuers take advantage of consumer willingness to mitigate fraud
to reduce risk, improve fraud loss percentages, and strengthen customer
loyalty?
- What security services and features are the trends of the future?
Report Statistics
- Audience: Credit card issuers, payment networks, and security
technology Vendors
- Author: Alan M. Ruperto, Associate Analyst
- Contributors: Mary Monahan, Director of Research Tom Wills, Senior
Analyst, Risk, Security and Compliance Robert Vamosi, Analyst, Risk and Fraud
Nicholas Shook, Research Associate James Van Dyke, Founder and President
- Publication Date: July 2009
- Length: 37 pages, 23 charts/graphs
Methodology
The scope of this report is limited to the cardholder-facing security
capabilities of card issuers and relies upon information available on card
issuers' Web sites and data supplied by the card issuers' customer service
representatives (CSRs). The survey was conducted between April 30, 2009 and
June 5, 2009. Javelin researchers validated the process with firsthand reviews
of actual features in selected cases. The report does not purport to rank card
issuers regarding their overall information security or back-end information
security screening procedures, rules and capabilities.
Using the mystery shopper approach, researchers culled through issuer Web
sites and called each issuer' s online customer service department to speak
with a senior-level CSR. The researcher explained that he or she was a
potential cardholder concerned about identity fraud, and had several specific
questions about the issuer' s online identity fraud Prevention, Detection, and
Resolution™ capabilities. In most cases, numerous CSRs were required to
complete the survey, and whenever Javelin' s research specialists had reason to
doubt the tenure or knowledge of a CSR, the call was terminated and the
process was begun anew. The total number of required CSRs (on a per-issuer
basis) was noted, along with each CSR' s name or employee number (for
verification). The required number of calls on a per-issuer basis ranged from
2 to 9, with an average of 5. (CSRs that were senior and could provide
excellent customer service were sometimes able to effectively answer all
survey questions accurately, as validated by blind re-calling and in these
cases, the number of calls was less than the average.) The process was
validated, in select cases, by firsthand monitoring of actual features. Card
issuers were scored according to their online services' Prevention, Detection
and Resolution™ capabilities. The prevention and detection categories
were weighted more heavily than resolution due to the greater potential
benefits and cost savings.
There were a number of top issuers listed by the Nilson Report that were not
included in Javelin' s 2009 Issuer Scorecard for a multitude of reasons.
Javelin did not include these issuers if they had absence of call centers or
did not have a consumerfacing credit card. Cabela' s WFB and CompuCredit were
therefore not evaluated and removed from the list of surveyed issuers. Issuer
Advanta announced it was closing down all of its customer accounts in March of
2009 and was also excluded.
Companies Mentioned
- American Express
- Barclays
- Bank of America
- BB&T
- Capital One
- Citibank
- Credit One Bank
- Discover Financial Services
- Fifth Third Bank
- National Bank of Omaha
- GE Money
- HSBC
- JPMorgan Chase
- MasterCard
- Navy FCU
- Nordstrom
- Pentagon FCU
- PNC Bank
- RBS
- State Farm
- SunTrust
- Target
- Town North Bank
- U.S. Bank
- U.S.A.A.
- Visa
- Wells Fargo
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