Security and authentication were only ever a spend if it involved cutting costs, either in the process itself, at the call centre, and as an after thought if fraud impacts on balances or the bank's balance sheet.

Now that costs are more of an issue that still applies, but the trust issue is becoming a bottom line driver. Some of the bigger banks have gained more depositors than any marketing dept could wish for at Christmas, without doing anything except getting a government guarantee and simply remaining standing albeit a bit wobbly.

Depending on where you look, many apparently steady banks would be insolvent if their arms length vehicles were coming home to roost.

In this environment banks who build trust will likely prevail. If authentication, security and privacy can add to that trust then they have a cheap source of bail-out funds. Oddly the very instability of many of those 'arms length' entities has driven (rather than attracted) deposits to their bank vaults.

The issue will build as nerves settle and people start to look around for a better banking deal and see the coming attractions.

I see a bright future for an inexpensive and, more importantly, easy to use authentication system. Even brighter if you manage to advertise the 'trust' while promoting the facility and perhaps activate users - in the same 'spot'.

I think this environment is really going to sort the wheat from the chaff, both banks and technology providers. SocGen's paper OTP's wouldn't be jumping into my mind,  and they are certainly not in my idea of the 21st century so leave the poor trees alone. Is it actually security? Did they run that past Mr Sarkozy?

I wouldn't have thought it was the least expensive option either. I assume they either post them to you, or you have to pop into a branch for a wad.

I suppose they'll adopt e-invoicing to save paper next.

I can't say I foresaw paper OTP's coming, that's for sure.

Very 1942, even more retro than plastic cards. Perhaps thats it - they're going for retro marketing. Soon their tellers will know your name, probably because you're the only customer, and they'll probably be moving into a small old building 'because it fits their retro marketing'.

I'll go with cost cutting as a trend across the industry, but I'm not optimistic about the future of the wad. I'd like to see the paper receipt disappear soon too. Who the hell wants to type them into their tax program anyway? Perhaps a mobile solution could do it.