To develop this list, Forbes Advisor experts analyzed the Financial Stability Board’s 2023 List of Global Systemically Important Banks (G-SIBs). As the world’s most significant banks, these institutions follow strict regulations around risk management, capital buffers, resolution planning and loss absorbency that are designed to prevent them from failing.
We ranked each bank on eight data points within the categories of its status on the G-SIBs list, asset size, digital security, fraud protection and deposit insurance.
Here’s the weighting assigned to each category:
- G-SIB status: 40%
- Asset size: 30%
- Digital security: 10%
- Fraud protection: 10%
- FDIC insurance: 10%
Banks with higher G-SIB status and more assets rose to the top. Those that offered digital security features like multi-factor authentication, disposable or virtual card numbers for online spending and account alerts performed better than those that did not. Banks with more robust liability protection, debit card-locking features and 24/7 customer service were also preferred. Banks must offer standard FDIC insurance and be available within the U.S. to make this list.
To learn more about our rating and review methodology and editorial process, check out our guide on How Forbes Advisor Reviews Banks.
