Some of us are busy people and don’t need the additional humps to navigate logging-in to apps or the website. Indeed, it is likely fewer people will look at their statements because of this.
We’re sent the notification anyway, so why not keep it as it was?
Also, I’m aware some people have scripts to ingest statements from email into spreadsheets or wherever (I’m one), so this is a major breaking-change.
Finally, this is another instance where advance comms have been lacking.
Based on client feedback, we’ve decided to stop sending monthly statements via email to safeguard personal information better. While we understand that receiving statements automatically may be convenient, email isn’t the safest way to transmit sensitive information, as it’s more vulnerable to unauthorised access. Accessing your statements directly through the app offers a safer and more secure alternative.
It’s as long as it’s broad, though, surely. If someone gains access to one’s device, they have access to apps or websites.
And isn’t it the choice of the user to make anyway, convenience being in the eye of the beholder ‘n’ all that? This is more than a mere convenience for some, it’s a workflow.
Only recently noticed that I’m now getting a link instead of a PDF attachment with my frequent emailed statement. These PDFs used to contain a cleartext total investment balance, unwise as I’ve pointed out in other posts.
The new scheme where you have to log in to see your statement is of course more secure and in line with how banks and pension providers behave.
The perfect functionality (for me) that I’d previously suggested would be an option to enable encrypted PDF statement attachments using a supplementary password that can be set in one’s 212 account. Why? Because it gives you an additional way to prove your recent balances in case of being locked out of 212 or worse, subject to a hack. Still, let’s not allow perfect to stand in the way of good.
We’ve taken client feedback on board, which is why the emails now include a link that directs you to the app, where you can generate your monthly statement in PDF format. Further feedback is always welcome, and we’ll continue to listen to all suggestions.
Please take it back to email. I haven’t seen my statement since the unannounced change because the website refers me to the app because it wants all sorts of info that, apparently, only the app can perform. Not a good experience, with more friction where there wasn’t before.