Javelin's scorecard evaluates issuer’s fraud protection services

Today Javelin Strategy & Research released its Fifth Annual Card Issuers’ Identity Safety Scorecard, which analyzes the top 25 U.S. card issuers’ capabilities for protecting customers from identity fraud. The report has been compiled from annual household, consumer, and issuer surveys using Javelin's Prevention, Detection and Resolution™ criteria to accurately reflect customer demands and trends in how issuers protect against fraud.

The Javelin scorecard evaluates each issuer’s fraud protection services and ranks features that best empower two major victims of the nation’s $48B identity fraud problem – cardholders and issuers – showing how to turn the tables on a worrying method of crime.

Card Issuers’ Identity Safety Scorecard includes the following key findings:
• Issuers have also made significant improvements in fraud prevention but both prevention and detection capabilities lag in comparison to after-the-fact resolution;
• More banks provide account-related alerts and limits via mobile devices, but more improvement is needed now;
• By offering integrated credit monitoring and other identity protective services, banks can further partner with consumers to help them protect and manage their finances.

Mary Monahan, Managing Partner and Research Director at Javelin, says that issuers have excelled in fraud resolution since first conducting the Safety Scorecard five years ago. However, she thinks they must continue to improve prevention and detection capabilities by offering specific new features that address the greatest areas of vulnerability.