NatWest and RBS have been crowned the UK's most secure online banking providers by consumer group Which?, with Santander ranked bottom of the pile.
"apparently weakest online banking security" would be fairer. They only assessed what's apparent to the consumer. It's not as if they ran a pen test.
I couldn't agree with Dave more. Pushing customers away from digital channels with security measures that create hurdles not worth crossing will make for an unviable commercial proposition for the bank. As Dave said, it can be a lot cheaper to pay back fraud
loss rather than pay for for more expensive presentment and payment channels such as paper, post and cheques. If we want to move into the mobile and digital space, we have to accept fraud even if it is counterintuitive.
@Dave Barnes: if it was 100% would that make it unusable for the customer
Exactly. And all for an increase in perceived, not necessarily actual, security.
Agree with the comments. I recently blogged about this...
Bottom line: security must be balanced with usability, otherwise it defeats its purpose. Having too much security is like having a car with breaks that won't let you move much. You'll say thank you very much, and just pick up another car. I call it 'choosing
the path of least security' which is our human nature, as opposed to the implied conclusion in the WHICH report which is that people appreciate security much more than they appreciate ease of use.
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