The year is 2022 and companies managing >$100B in assets are STILL using SMS 2FA for protecting their life savings, despite SIM hijacking and SIM swapping still about.
These companies want more cash heavy users. Like those older than 50.
There is absolutely no way my parents could figure out 2fa in any way other than phone call/sms. They would be cutting out the less technical crowd, which is exactly who they're trying to convince to buy in
It's one thing to offer SMS in addition to other 2FA options. It's completely another when SMS is the only 2FA option at these institutions. See also: Canadian banks (at least the ones that even support 2FA of any kind).
These companies want more cash heavy users. Like those older than 50.
There is absolutely no way my parents could figure out 2fa in any way other than phone call/sms. They would be cutting out the less technical crowd, which is exactly who they're trying to convince to buy in
It's one thing to offer SMS in addition to other 2FA options. It's completely another when SMS is the only 2FA option at these institutions. See also: Canadian banks (at least the ones that even support 2FA of any kind).