[57North] Banking

[Tony Shannon]

I'd be in favour of any that support online banking, with a 2nd multifactor
device (e.g. the devices you plug a card into & generate a one time code,
as opposed to a 2nd passphrase, which asks for 1st, 3rd & 9th character
etc) as this would allow us to (roughly) enforce the rule that 2 directors
needed to action transactions.

e.g. We could have 2 x multifactor devices & 2 cards for the account (each
held by a single director) then the remaining 3 directors could know the
password for the account.  This isn't perfect*, as it is possible that the
only 2 directors authorising payment both have either the password, or both
have the multifactor - in that case, they'd need to go to a branch, where
we setup that 2 signatures required, with all 5 directors enrolled.

The alternative is that every director has full financial access (not ideal
/ against articles) or we only use branch access (which is less convenient
than above)

Thoughts?

Tony

Workings:

*
Assuming only 2 directors present 4 permutations fail, 6 permutations
succeed
Assuming only 3 directors present 1 permutation fails, 9 permutations
succeed

total 5 failures permutations, 15 successes

(1 director always fails - as intended, 4+ directors always succeed -
excluded from results)

my 5 min maths check (corrections welcome)


On 19 February 2014 13:29, Tom Jones <jones at sdf.org> wrote:

> Me and Rob spoke about which bank a little last night, but the list we
> came up with is just
>
> RBS
> CO-OP
>
> Does anyone have suggestions for banks to look at?
>
>
> Tom
> @adventureloop
> adventurist.me
>
>
> _______________________________________________
> thelist mailing list
> thelist at 57north.co
> http://57north.co/cgi-bin/mailman/listinfo/thelist
>
>
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