Stripe can make automatic LLCs but a wire transfer from Citi nearly ended me

Re:Stripe can make automatic LLCs but a wire transfer from C... by abalone on Tuesday January 14, 2020 @11:36PM (#22051789)

Yeah, this blog post comes across as startup-y hero worship, like

> I think the root cultural cause is an aversion to self-serve flows.

which is plainly false given the biggest push in the past decade of banking has been self service flows that allow them to cut costs and downsize branches.

Stripe is built on a traditional bank partner. The workflows Stripe optimizes are not “make it easy to empty my new bank account with minimal authentication” workflows.

[ Parent | on HN ]

Re:Stripe can make automatic LLCs but a wire transfer from C... by ianlevesque on Wednesday January 15, 2020 @12:07AM (#22051878)

So why do they all insist on SMS-only for 2FA?

[ Parent | on HN ]

Re:Stripe can make automatic LLCs but a wire transfer from C... by vidarh on Wednesday January 15, 2020 @02:29AM (#22052331)

Because they optimise for 'easiest for most people, with an acceptable risk profile'. Note acceptable not lowest.

[ Parent | on HN ]

Re:Stripe can make automatic LLCs but a wire transfer from C... by AlexCoventry on Wednesday January 15, 2020 @01:09AM (#22052089)

It doesn't detract from your argument, but there appear to be nine US banks listed at https://twofactorauth.org/#banking which offer hardware- or software-based 2FA.

[ Parent | on HN ]