After SMS One-Time Passwords: Meeting the Authentication Needs of Banks and Their Customers

Consumer data was collected from an online survey of 5,000 U.S. adults over age 18; this sample is representative of the U.S. census demographics distribution. Data collection took place from November 1-16, 2017. Final data is weighted using 18+ U.S. Population Benchmarks on age, gender, race/ethnicity, education, census region, and metropolitan status from the most current CPS census. For questions answered by all 5,000 respondents, the maximum margin of sampling error is ±1.39 percentage points at the 95% confidence level.

Further data was taken from an online survey of 5,028 individuals fielded from November 5-21, 2016. For questions answered by all 5,028 respondents, the maximum margin of sampling error is ±1.40 percentage points at the 95% confidence level.

Data on bank adoption of authentication features was collected by Javelin with a two-stage process. Results from 28 of the largest depository financial institutions were initially collected through a network of mystery shoppers with at least one active account at each financial institution. Once the mystery shopping had been completed, each financial institution was contacted and given the opportunity to validate the results. Twenty-one financial institutions validated the results of the scorecard. Results for financial institutions that declined to validate results were confirmed by Javelin personnel who held at least one account at each financial institution.

Additionally, Javelin conducted interviews of senior financial industry executives responsible for authentication at U.S. retail banks.