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Location
London
Member since
2008
Writes about
Security Retail banking

Michael's blog archive

2011 (1) 2010 (2) 2008 (3)
Michael Fuller

Michael Fuller

Former Retail Banker at None
Posts: 6 Comments: 56
Bio Since 1997 I have left the financial sector and am Company Secretary for a large national Housing Association with responsibilities which include regulatory reporting from our data warehouse. Career History Joined Midland Bank in 1975 and spent 21 years in a variety of mainly retail staff and management roles. Culminated in 1997 when I spent a short time working on a revamp of the Bank's website.

Blogs

 

Who I am and not what's my limit?

26 Sep 2011

It's not the first time that Banks have asked me daft questions in order to identify me. Every few years of course I have to be sent a new card and as part of that process I have to "activate" it. What do Banks need to know? First that I have received the card and second that I am who I claim to be. By all means ask me about the card I ha...

 

3-D Insecure -possible heresy

28 Jan 2010

It's interesting both that there have been no comments so far about this story and that there are quite a number of other blogs where the value of 3-D secure has been questioned. This seems to be an example of the Emperor's new clothes where everyone knows he is naked but won't admit it. My experience of 3-D secure tends to support the Cambridge

12

 

Citi Cards UK direct debit failure

01 Jan 2010

Citi Cards UK today admitted to me that they had failed to collect direct debits on a number of customer credit card accounts the result of which was that a £12 late payment fee has been applied. Fortunately I noticed the fee when checking my account on-line and was able to contact Citi straight away to get them to put it right. The Direct Debit sh...

 

Convenience Store ATM Fraud

19 Nov 2008

About eight weeks ago I got my wife and I Shell MasterCards from Citi to buy fuel with. This was prompted by the offer of 3% off our fuel purchases at Shell. (6% in the first 60 days from account opening). This morning (17 November) I got a text from Citi telling me my account balance. It was £1600 more than I had expected so I tried to log on to

5

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Michael is Commenting on

APP fraud victims to get mandatory reimbursement rights under new PSR rules

  Faster Payment participation, either direct or indirect should be conditional on providing an up to standard Confirmation of Payee service. Paying anyone who fails the CoP check could then at least be the 'exceptional circumstance' where reimbursement is not made. PayUK real-time transaction monitoring to identify accounts with non standard activity linked to an enhanced CoP validation warning informed by that unusual activity would help. As with safeguarding children, Data Protection should never a barrier to sharing data and concerns between banks/PayUK about individuals, to protect the vulnerable. Banking confidentiality needs to move with the times. Confirming the standing of your customer was never something that banks didn't do although Bank references became meaningless due to the fact that Banks didn't know much about the standing of their customers who had become just numbers to them. 'References' for payees need to go real-time (based on account data) and payment system design needs to incorporate fraud prevention as well as speed and messaging standards. All elements of the transaction, not just the remitter, have a responsibility and a part to play to prevent the billions being lost to financial crime whether reimbursed or not. 

30 Sep 2022 Reply Read article

Barclays to offer instalment payment plans with Amazon

  I'm confused. Barclays are primarily a Visa credit card issuing bank which Amazon are going to ban from 19 January. Is introducing BNPL their answer to the fact that tens of thousands of their customers will be unable to pay for goods on Amazon from 19 January?

17 Dec 2021 Reply Read article

Nationwide moves online banking to Microsoft Azure

  Finextra the headline "Nationwide moves online banking to Microsoft Azure" seems rather misleading. It would appear that only the website hosting has moved to Azure. 

17 Dec 2021 Reply Read article

FCA boosts Open Banking by removing 3-month re-authentication requirement

  Great news! Just hope it doesn't take more than 90 days for the legacy banks to comply.

02 Dec 2021 Reply Read article