Archives: Resources

A Case Study in Bundling Products: Tax Software and Credit Monitoring

TurboTax, a popular tax preparation product, offers tax preparers the opportunity to purchase identity theft protection when they file their tax return. Among TURBOTAX users who also had identity theft monitoring in our sample, 50.3 percent chose Experian (Turbotax’s partner). Among other tax software users that also selected identity theft, only 36.5 percent chose Experian. Experian has been able to claim a greater share of the market by partnering with Turbotax and being present when the tax software purchase is made.

Which Identity Protection Brands Do Regional and Community Financial Institution Account Holders Trust Most?

Among account holders in our panel that pay for identity protection, three competitors claim most of the market: Experian with 36.5 percent, IdentityIQ with 35.3 percent and Lifelock (Norton) at 27.5 percent.

Mastering Positive Pay: Safeguarding Payments in the Digital Era

Webinar about Positive Pay and its pivotal role as a vanguard against fraudulent activities, including altered checks, unauthorized ACH transactions, and more.

The Connection Between Antivirus Software Users and Other Personal Protection Services

Analysis of transaction data for security products reveals two interesting cohorts.

Sophisticated & Evolving Account Takeover Fraud

Account takeover fraud threats are becoming more sophisticated and successful with fraudsters leveraging the most innovative tools and techniques available to diminish the bank or credit unions reputation and steal from businesses and consumers. Hear from Seth Ruden, Director of Global Advisory for BioCatch to better understand how you can apply behavioral biometrics to detect […]

Generational Adoption Rates for Personal and Home Security Products

As the world has increasingly become more digital, the home and personal security landscape has changed too. New risks, such as identity theft and computer crime, require consumers to respond; New market entrants with innovative approaches have created disruption and shifts in the security market. Overall, complexity around what security buyers look like, and what demands they have, is greater than ever. Transaction data can shed light on some of this complexity. Perhaps not surprisingly, each generation perceives and takes action towards these security risks in different ways.

Fintech/Budgeting Savings App Behavior

Account holders who use saving features associated with fintech budgeting apps tend to move smaller amounts of money into savings, in contrast with the high-interest rate Apple Savings, where account holders moved larger amounts. While fintech budgeting apps savings accounts may be non-interest bearing, they can be attractive to account holders who wish to contribute money at regular intervals to build a small nest egg.

Apple Savings vs. Fintech Budgeting App Savers by Generation

Previously, the usage of new personal finance apps showed consumers are responding to new ways of saving money and managing their finances. Account holders transferring funds to Apple’s new interest-bearing savings account tended to move much larger amounts than savers who moved funds using passive strategies with the fintech apps (medians: $1750 vs. $10, respectively). Additionally, the age of these savers was analyzed and the figure above illustrates that savers using budgeting apps tend to be younger than fintech app savers, with 62 percent in the millennial and Generation Z generations, compared to 41 percent for Apple savers. This suggests that the savings and budgeting app users are more likely to be in earlier stages of their financial journey where they are building savings while Apple savers are at a more mature financial stage.

Apple Savings vs. Rocket Money (Deposit Comparison)

Apple Savings vs. Rocket Money: Which Savings App Is Stealing The Most Deposits? Facebook Twitter LinkedIn What we’re seeing: Previously, the amounts transferred to Apple Card’s high-yield savings account found a median amount transferred of $1,750 and nearly one in four savers transferred over $10,000. The above chart further investigates Apple Savings compared to increasingly […]

Infographic: 3 Strategies to Grow Deposits in 2023

Tackling FIs’ #1 Priority: Deposit Growth A recent survey found that 43% of FI respondents listed deposit growth as their #1 priority over the next two years. As financial institutions battle deposit outflow, a competitive rate environment, and megabank and neobank challengers nibbling on their hard-earned banking relationships, they need a digital banking solution that […]