I agree, it’s not a perfect system. Even if you do have multiple devices - you may be locked out if you lose your phone while traveling, can have multiple failures.
Although I don’t know what is remotely secure and is elderly friendly. Email or SMS 2FA would have been the closest in mind, but it’s not secure, and plenty of elderly struggle with both.
Pedantic types always mention that secure is only relevant in the context of a particular threat model. The elderly can use hardware authentication like those RSA devices or ubikey. Unfortunately, this is expensive, and banks don’t believe there’s demand for that. Would you switch banks for this feature?
You can use TOTP with multiple devices. For example with an app on your phone and something like KeePass on your laptop/desktop.
Still not convenient since you don’t walk around with this in your pocket - but it doesn’t have to be just one point of failure.
What about people who only have one device? Kids, elderly, people with only work computer.
I agree, it’s not a perfect system. Even if you do have multiple devices - you may be locked out if you lose your phone while traveling, can have multiple failures.
Although I don’t know what is remotely secure and is elderly friendly. Email or SMS 2FA would have been the closest in mind, but it’s not secure, and plenty of elderly struggle with both.
Pedantic types always mention that secure is only relevant in the context of a particular threat model. The elderly can use hardware authentication like those RSA devices or ubikey. Unfortunately, this is expensive, and banks don’t believe there’s demand for that. Would you switch banks for this feature?