October 2018 Trends & Highlights: Security, Social Campaigns and New Online Tools and Mobile Features

by on Nov 14, 2018

Security Updates and Resources – Many firms focused commentary on National Cybersecurity Awareness Month and made security updates accordingly. Six firms highlight the month through banner images and notifications on their public sites. The public site homepages of American Funds and Charles Schwab featured promotional sections with cybersecurity tips. Bank of America and PNC Bank updated their public site Security Center pages to include new Cyber Security Awareness sections. PNC Bank also warned clients on the public site Security & Privacy Center to watch out for text scams. BB&T notified account holders about Cyber Security Awareness in a statement bulletin and directed them to additional resources. Fidelity featured an image on their public site homepage, urging investors to use mobile devices to protect their accounts. Four firms posted on social media in promotion of the month. Charles Schwab tweeted tips for protecting account holders against cyber threats. Edward Jones posted on Facebook promoting an Eight Cyber Mistakes to Avoid article. Merrill Edge promoted cybersecurity on social media and linked to a digital estate planning article. Morgan Stanley Wealth Management tweeted an article entitled Sixteen Ways to Improve Your Cybersecurity.


Many firms updated their security services or added additional information to their security content. Chase now allows small business card holders to place a temporary lock on their accounts with the Lock & Unlock Your Card slideout, findable on the private site homepage. Citibank updated the public site Security Center to include a summary of the firm’s two-factor authentication service. Fidelity now allows users to place accounts on a money transfer lockdown through the private site. MassMutual required account holders to enroll in two-factor authentication as an additional security measure. Santander Bank removed two-factor authentication options in light of adding a new security feature to detect unusual account behavior. U.S. Bank added Additional Authenticators and Device Manager for managing relevant settings.


Social Campaigns and Promotions – Several firms across different industries featured social campaigns and promotions. The Alliance for Lifetime Income hosted a Protect Your Retirement Income Day to engage consumers about risk and the need for annuities. Athene launched a fall brand campaign, emphasizing its commitment as a trusted partner. Chubb promoted its Charity Challenge golf tournament. Guardian Life launched its first integrated brand campaign, which defines what is means to be a Guardian. Jackson National offers an optional Lifetime Check living benefits rider, related to a larger company campaign emphasizing financial freedom. MassMutual emailed invited members to remote customer experience sessions for a chance to win a $10 Amazon gift card. As part of their anniversary celebration, Pacific Life sponsored four $15,000 scholarships to students who lost parents without life insurance. TIAA announced the winners of a Difference Market campaign which recognized 100 people who stood out for their non-profit work.



Bank of America Offers a New Spending and Budgeting Tool


A new private site Spending & Budgeting interface analyzes trends in account activity by category or over time and allows users to create categorical budgets based on their incomes and average spending. Once users set up a budget, the interface displays spending visually in progress meters by category and in total. Throughout, the Spending Insights sidebar highlights spending trends and financial wellness articles. Both within the new interface and in the existing Activity tab transactions table on the account details page, users can now edit the Merchant Name and recategorize past transactions to better leverage the new interface.


New Private Site Spending & Budgeting Interface – Spending Overview

Release of iOS 12, Siri Shortcuts


With the recent release of iOS 12, Apple introduced Siri Shortcuts, a new feature that broadens the iOS virtual assistant’s capabilities to include user-defined commands for commonly used and suggested tasks. While most Shortcuts are currently for native iOS applications like Mail and Voice Memos, third-party developers have begun to roll out support for their own suite of customizable Siri commands. At this time, E*TRADE and USAA are the only two firms in the Mobile Monitor coverage set that offer support for this feature.


E*TRADE’s users can create a custom phrase to say to Siri that will trigger an action to occur (e.g., saying “View Portfolios” triggers E*TRADE’s Portfolios screen to open upon authentication). If users are unsatisfied with their voice recording, they can re-record or select from a list of similar sounding phrases.


iOS Settings Third-Party Siri Shortcut Setup