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by solardev 960 days ago
In the US at least, I never thought of banks as particularly tech-savvy, just change-averse. They tend to be the big companies with the worst websites and apps, transactions take days to clear, their secure messaging is a mess, everything about the UX is terrible, fraud handling and benefits usage seem like separate apps altogether... I dunno if any of that translates to their security handling, but I would imagine big cloud providers with huge security teams would be better equipped to deal with those concerns than any single bank would?

Certainly I would trust AWS with my information more than my bank. My bank is only trustworthy because we have regulations limiting my liability for unauthorized charges... without that I would never trust my bank (or Paypal, for that matter) to hold my funds. These are the same people that still use magstripes and publicly-visible numbers to authorize transactions, after all. Of all the services I've used, my bank is the only one that regularly gets its info stolen (credit card fraud). Thankfully the law doesn't let them hold me responsible for the charges.
2 comments
wil421 960 days ago
Some banks have so much tech (legacy mainframe to cloud providers) I’ve head them describe themselves as an IT company that makes money off banking.

My credit union is lackluster but that’s expected I’m not there for their mobile apps.

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lawlessone 960 days ago
By any chance does the name of this bank sound the noun you'd use to describe a large urban area?. I've heard it too.
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wil421 960 days ago
No it was Chase.
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solardev 960 days ago
On the other hand, there a bunch of fintech startups now that only build fancy apps with nice UX on top of existing banking infra (often partnering with some legacy bank).

I miss Simple :(

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xeromal 960 days ago
Me too. It helped me wrangle a budget where YNAB and all others failed
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uxp8u61q 960 days ago
Banking in the US is very different from banking in France. USA has all these tiny banks, credit union and such, in addition to the mastodons like chase, boa etc. In France, there are maybe five or six huge banks, and their subsidiaries. As far as I know, most of Europe runs on the same model (a few huge banks rather than a plethora of small banks).
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