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Michael Fuller

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Michael's comments

clear
Bolt settles suit with customer Authentic Brands Group

So this "exceptional checkout technology" doesn't work according to the suit since it "utterly failed to deliver on the technological capabilities that it held itself out as possessing" according to a large customer?

Yet despite this ABG will "work with Bolt to "deploy its "exceptional checkout technology" to several of our portfolio brands".

Does the technology work or not or is it just that ABG  thinks that it overpaid and used its leverage to get a reduced price? Not great for "investors" in Bolt unless the settlement somehow applies to all the investors.

While a large customer may be satisfied it doesn't look like the issues are over here.

07 Jul 2022 21:23 Read comment

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 16:21 Read comment

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 10:04 Read comment

Better.com CEO takes 'time off' in wake of mass Zoom firing

Appalling. The term "Time off" suggests a possible return which shareholders and investors must consider as an abject failure by the board to address this serious situation. The correct term is suspension. The reputation of the firm has been trashed by this CEO. The independent assessment needs to include an assessment of the compentancy of the Board.

As well as conducting a disciplinary hearing for gross misconduct, this Board need to consider how they came to make this disasterous appointment in the first place. How do they intend to reset the culture of the organisation and what are they are going to do to instill confidence in an organisation that seriously needs rebranding.

 

11 Dec 2021 00:24 Read comment

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 15:50 Read comment

HSBC launches programme to help customers go digital

Not sure why Finextra has felt it necessary to add an unsubstantiated reference to "the elderly" as being "less comfortable with digital services"? The HSBC press release is silent on this so why do Finextra make this false claim about older people? (NB please refer to "older people" and not "the elderly" - a term that many find offensive). 

Please remove the text " - including the elderly - " from this item if you don't want to be accused of prejudice and ageism.

Thank you

https://www.about.hsbc.co.uk/news-and-media/hsbc-uk-to-roll-out-hsbc-home-programme

01 Mar 2021 11:11 Read comment

UBS: Fingerprint cards will generate $5bn in bank revenues by 2026

If we still have physical cards in 2026 I'll be surprised. Cards no longer have signatures, card numbers or  details printed on them and mag stripes are on the way out. It amazes me that we still refer to "Card not present" and that the networks still allow details from the physical card to be used for digital purchases! The only advantage of a card over a smartphone is that it hasn't got a battery to run out. (for now)

What were those "successful commercial pilots" that UBS refer to and who were they successful for?

24 Feb 2021 20:29 Read comment

Which? investigation finds worrying gaps in bank security systems

It's a pity that Which? still seem to be advocating use of complex passwords by criticising the inability of some systems to accept special characters. Indeed it's disappointing that passwords are even being used at all when 15 years ago Bill Gates suggeted they were not up to the challenge of keeping information secure.

I find the NCSC guidance on passwords refreshing and would much prefer to use a phrase like "Your complex password requirement is stupid" than be forced to remember something artificail and complex like Az9Wp£!eeN7 (I can't remember that of course so will be forced to write it down or just use the "forgotten password" option when I log on).

https://www.ncsc.gov.uk/collection/passwords

The place for special characters in in the online chat or messaging service where any use of more than basic punctuation usually causes it to fall over.

And why I am I forced to change my password reguarly on some systems? I log in to my Bank's Pension site once a year to check how much my payment has altered yet the password policy forces me to change my password every three months! Daft and wholly counter productive.

07 Jan 2021 18:52 Read comment

Brits still wary of trusting neobanks

OH dear! When you combine two separate research papers predicated on different limited data do you really expect them to produce any meaningful outcomes? As I understand it Accenture surveyed just 3,000 people. Hardly representative of the population in general. It seems that Plum (who customers seem not to be using Neobanks) see their customers as representative of the market too.

It will be good to see how these partial and unrepresentative views have done in a year.

Total nonsense of course and shame on those who commissioned such puerile research. Research is good but only if it is truly representative of the market.

False comfort for incumbents.

10 Dec 2020 23:25 Read comment

ANZ fined $10 million by Asic after unlawfully levelling $3 million in customer fees

Levying not Levelling or were these flat fees?

05 Oct 2020 06:35 Read comment

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Michael writes about

  • security
  • retail banking

Michael's opinion archive

  • 2011 (1)
  • 2010 (2)
  • 2008 (3)
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