Abstract
Overview
Javelin' s Card Issuers' Identity Safety Scorecard ranks issuers on their cardholder-facing identity fraud Prevention, Detection and Resolution™ capabilities. Leveraging the nation' s most comprehensive study on identity fraud, Javelin annually updates the Prevention, Detection and Resolution ™ criteria to measure issuers on their consumer-facing security features. The scorecard is based on these particular capabilities for the following key reasons: 1) consumer perceptions of identity fraud profoundly impact an issuer' s brand image and reputation; 2) effective partnerships with customers mitigate fraud and reduce losses; and 3) successful results create enhanced customer loyalty and retention. The nation' s top 25 credit card issuers were ranked on the services and measures they have implemented in partnership with customers to protect against identity fraud.
Primary Questions
- Which card issuers lead in customer-facing identity fraud Prevention, Detection, and Resolution efforts?
- How can issuers increase customer safety and reduce fraud costs while driving profitability through higher acquisition, selection and loyalty?
- What security services and features are the trends of the future?
Table of Contents
- Overview
- Primary Questions
- Key Findings
- Introduction
- Executive Summary
- Average Issuer Scores for Major Fraud Mitigation Categories
- Recommendations
- Prevention
- Detection
- Resolution
- Security Education Efforts Strengthened; but Customer Potential for Fraud Prevention Overlooked
- Detection
- Issuers Neglect to Provide Detection Features Most Desired by Customers
- Alerts for Changes to Personal Information Lacking
- Resolution
- 100% of Issuers Provide Dedicated Fraud Resolution Teams, Relevant Resolution Information for Victims, Zero Liability, and 24/7 Account Suspension
- 2008 and Beyond: What' s Next for Issuers?
- Methodology
- Appendices A to F
Table of Figures
- Figure 1: Percentage of All Issuers Meeting Criteria
- Figure 2: Overall Category Average Scores
- Figure 3: Top Seven Rankings: Overall Highest Scoring Issuers
- Figure 4: Overall Identity Fraud Scores for Issuers Ranked Seven to 20
- Figure 5: Top Six Rankings: Individual Prevention Scores
- Figure 6: Individual Prevention Scores for Card Issuers Ranked Seven to Seventeen
- Figure 7: Percentage of Issuers Meeting Prevention Criteria
- Figure 8: Top Six Rankings: Individual Detection Scores
- Figure 9: Individual Detection Scores for Card Issuers Ranked Seven to Fifteen
- Figure 10: Percentage of Issuers Meeting Detection Criteria
- Figure 11: Percentage of Card Issuers Offering Personal Information Alerts
- Figure 12: Top Scoring Issuers in Resolution
- Figure 13: Individual Resolution Scores for Issuers Ranked Second Through Fifth
- Figure 14: Percentage of Card Issuers Meeting Resolution Criteria
- Figure 15: Credit Card Issuers Evaluated for Identity Fraud Safety Features
- Figure 16: How Prevention, Detection and Resolution™ Mitigate Fraud
- Figure 17: Card Issuers' Scores Based on Customer-Facing Identity Fraud Prevention, Detection and Resolution™ Features and Services
- Figure 18: Card Issuers' Prevention Features and Services
- Figure 19: Card Issuers' Prevention Features and Services: UDLAPS
- Figure 20: Card Issuers' Detection Features and Services:
- Figure 21: Card Issuers' Detection Features and Services:
