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Second Annual Antivirus, Browser, and Mobile Security Report: Financial Institution's Have ROI Opportunities in Leveraging Demographics
Javelin Strategy & Research, July 2011, Pages: 39
With an increasing reliance on online services, FIs and other Internet suppliers are vulnerable to more sophisticated attacks than in the past. Fraudsters have slowly and inexorably begun to move from the standard online realm into mobile services. While threats from key loggers and phishing scams continue, spear phishing attacks will become more common. As noted in last year's report, Man-in-the-Browser (MITB) attacks will continue. This year we are seeing new tools to combat this particular attack. This report will look at 19 security products that are on the market today. We have also included an assessment of mobile security and browser security products as well as traditional antivirus products. There is no single solution for security on the Web. A layered approach is required with the ultimate keeper of security being a well-educated user.
- What is the current consumer landscape for antivirus adoption?
- What future opportunities are available for banks and third-party vendors?
- What are the current malware threats to mobile phones?
- What features in mobile security packages effectively mitigate these threats?
- What are current browser security features?
- How do the feature/functionality set of major antivirus software vendors compare?
- What are the revenue opportunities for FIs relating to security software?
For this report, the authors gathered data from seven different surveys taken over the course of three years. Each of these surveys collected data from a base of 2,000 to 5,000 consumers, representative of the general U.S. population, interviewing them on a range of topics, including but not limited to, fraud, security services, and technology adoption. Longitudinal questions were checked to ensure the same base of consumers was being asked the same question, ensuring an accurate comparison of data over time.
For questions answered by all 5,102 consumers in the 2011 Financial Services Channel survey, the maximum margin of sampling error is ±1.37 percentage points at the 95% confidence level. For longitudinal comparison to this survey, 2009 and 2010 have been updated to reflect the latest census targets according to the U.S. Census Current Population Survey (CPS).
For questions answered by all 5,211 consumers in the 2010 Financial Services Channel survey, the maximum margin of sampling error is ±1.36 percentage points at the 95% confidence level.
For questions answered by all 3,100 consumers in the 2010 Mobile survey, the maximum margin of sampling error is ±1.76 percentage points at the 95% confidence level.
For questions answered by all 5,004 consumers in the 2010 Identity Fraud survey, the maximum margin of sampling error is ±1.39 percentage points at the 95% confidence level.
For question answered by all 470 identity fraud victims in the 2010 Identity Fraud survey, the maximum margin of sampling error is ±4.5 percentage points at the 95% confidence level.
For questions answered by all 5,000 consumers in the 2009 Identity Fraud survey, the maximum margin of sampling error is ±1.4 percentage points at the 95% confidence level.
For questions answered by all 703 identity fraud victims in the 2009 Identity Fraud survey, the maximum margin of sampling error is ±3.7 percentage points at the 95% confidence level.
The authors identified the top 27 financial institutions by largest deposit size of demand deposit accounts (DDA) according to the FFIEC (list accessed September 2010 for the 2010 Banking Identity Safety Scorecard). Man-in-the-Browser and antivirus partnerships were determined through website research and CSR calls.
To collect data on AV-Comparative and AV-Test antivirus software, third-party sites AV-Comparatives.org and pcworld.com were accessed.
To collect data on mobile security features and browser security features, website research and CSR calls were made to verify the presence of certain features in each program or software package.
Executive Summary and Key Findings
Internet Access and Online Services Increasingly Ubiquitous
From Moneyhawks ™ to Super Moneyhawks ™
FI Revenue Opportunities Driven by Current Consumer Behavior
Data Breach Notifications Continue to Drive Antivirus Subscription Adoption
Opportunity to Leverage Security Protection to Increase Merchant Revenue and ROI
Data Strongly Suggests Demographic Opportunities
Current Antivirus and FI Partnerships
Choosing Antivirus Products
Effectiveness of Antivirus Protection
Threats to Mobile Phone Platforms
Malware Goes Mobile
Browser Security Features
Table of Figures
Figure 1: Products and Services Personally Owned by Consumers, 2009-2011
Figure 2: Consumer Frequency of Online Banking, 2010-2011
Figure 3: Identity Protection Enrollment, 2011
Figure 4: Identity Protection Providers, 2011
Figure 5: Consumer Satisfaction with Current Antivirus Product.
Figure 6: Actions Taken by Victims after Fraud Has Occurred, 2009-2010
Figure 7: Actions Taken by Victims after Fraud Has Occurred, 2010
Figure 8: Free Antivirus Sources, 2010-2011
Figure 9: Most Relevant Features to Increasing Online Purchasing, 2009-2010
Figure 10: Identity Protection Enrollment by Age
Figure 11: Education and Adoption of Antivirus by Age, 2010
Figure 12: Adoption of Antivirus by Income Group
Figure 13: Consumer Awareness of Malicious Software and Adoption of Antivirus by Income, 2010
Figure 14: Antivirus Adoption by Ethnicity, 2011
Figure 15: Products and Services Personally Owned by Ethnicity, 2011
Figure 16: Antivirus Products Provided by Top 27 Financial Institutions
Figure 17: Results Based on AV-Test and AV-Comparatives (Percentages)
Figure 18: Mobile Security Features
Figure 19: Browser Safety Features
Figure 20: Comparison of Man-in-the-Browser Protection Software
Figure 21: Comparison of Enterprise Solutions for Man-in-the-Browser Attacks
Figure 22: Antivirus Scoring
Figure 23: Antivirus Products
Figure 24: Antivirus Vendors with ID Protection Service Partnerships
Figure 25: Man-in-the-Browser Protection Offering by Top 27 Financial Institutions
Figure 26: Internet and Internet-Accessing Devices by Income Group, 2011
- M&I Bank
- M&T Bank
- Banco Popular
- Bank of America
- Bank of the West
- Navy Federal Credit Union
- BBVA Norman
- Opera Software
- Panda Security
- CA Technologies
- PC Tools
- Capital One
- PNC Bank
- Citizens Bank
- Fifth Third Bank
- First Horizon
- TD Bank
- G DATA
- Trend Micro
- Golden 1
- Credit Union
- Union Bank
- ID Vault
- US Bank
- Wells Fargo
- JP Morgan Chase
- Zion Bank
- Zone Alarm