Javelin Strategy & Research announces winners of the 2022 Cyber-Trust in Banking Scorecard

Wells Fargo awarded Best in Class recognition; USAA Bank, PNC Bank, and Bank of the West ranked as overall Leaders

SAN FRANCISCO, CA (September 27, 2022) — Javelin Strategy & Research announces today the winners of its 2022 Cyber-Trust in Banking Scorecard awards, which recognize and celebrate leading financial institutions (FIs) that stand out for cyber-trust. The scorecard ranks 21 FIs in the US based on the cybersecurity functions, capabilities, tools, and educational materials they provide to protect and inform customers and members in a digital world. Javelin analysts evaluated over 90 relevant criteria across three categories—Cybersecurity Education, Consumer Privacy, and Cybersecurity Empowerment.

The scorecard honors one Best in Class winner, three overall Leaders, and three Leaders in each category. Wells Fargo earned overall Best in Class for its widespread coverage of nearly all cyber-educational topics deemed most significant by Javelin. USAA Bank, PNC Bank, and Bank of the West ranked as overall Leaders. Five additional FIs—Citibank, Huntington National Bank, TD Bank, Truist Bank, and Bank of America—were named Leaders in at least one evaluation category.

Javelin considers FIs more advanced in their realms of cyber-trust if they offer features and tools to encourage cybersecurity empowerment and education. Javelin also takes into account cybersecurity protections and consumer privacy rights in its determination of cyber-trust. FIs with a robust sense of cyber-trust will be the most successful in cultivating lasting relationships with consumers.

“Transparency matters for consumers when it comes to data collection and use practices, as does the ease of understanding how that information is used,” noted Tracy Kitten, director of Fraud & Security at Javelin. “Unfortunately, most FIs are not transparent enough about data collection strategies. Nearly four in 10 FIs do not disclose data collection or data-tracking practices when consumers interact with their online banking sites.”

The scorecard report finds that consumers who trust their FI (27%) completed more requests to know what data that FI had on file about them. Simply knowing what is being collected leads to a greater sense of cyber-trust and security among consumers.

“Education is the most powerful weapon in a consumer’s pocket, especially in the fight against identity theft and fraud and other cybersecurity threats,” added Suzanne Sando, senior analyst of Fraud & Security at Javelin and lead author of the report. “The more consumers know, the more they tend to trust their FI because they have a greater understanding of the cyberthreats against their identity, privacy, and financial accounts.”

To learn more about Javelin’s 2022 Cyber-Trust in Banking Scorecard, visit

About Javelin Strategy & Research

Javelin Strategy & Research, part of the Escalent family, helps its clients make informed decisions in a digital financial world. It provides strategic insights to financial institutions including banks, credit unions, brokerages and insurers, as well as payments companies, technology providers, fintechs and government agencies. Javelin’s independent insights result from a rigorous research process that assesses consumers, businesses, providers, and the transactions ecosystem. It conducts in-depth primary research studies to pinpoint dynamic risks and opportunities in digital banking, payments, fraud & security, lending, and wealth management. Learn more at


Teddy Wingert

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