Two factor authentication AKA pain in the arse login process

PS. I'm struck by the irony that AC felt it must further protect me from the theoretical risk of someone breaking into my home, guessing my security details and trying to check the balance on my Assetz Capital account, yet is happy to decide (after a Survey Monkey vote swung by obviously unthinking lenders I've never met) that a substantial chunk of my remaining Assetz holdings should continue at risk INTEREST FREE for 6 months (#227). Beyond laughable.

Please allow users to opt-out af their own risk - this is a terrible decision.

I've just setup the 2FA. This is my personal feedback:

1.The setup procedure seems to a pain if someone has never used Authy. Personally, I use Authy for many things. It sounds complicated to setup for someone who has never done it before, I do like using Authy.
2. The memorable word and PIN number are not directly related to Authy setup, but I see this helps AC staff of identify someone speaking on the phone
3. The 8 digits PIN is long and unusal. Most phone uses 4 digits PIN, and other online services use 6 digits. Nowadays we have too many things to remember and is it necessary to have an 8 digits while other banks use less?
4. It is not necessarily to use a mobile phone to login, all I need is the Authy app. One great thing about authy is that it can be installed on multiple devices and allow Muliti-device access. It means if you lost your phone, you could access Auhty on your tablet. Authy can be setup with TouchID to unlock access.

I remain open to the idea that the benefits of 2FA outweigh the inconvenience but I'll reserve judgement until it's introduced on sites requiring daily monitoring/access.

Two things jump out at me viewing this thread from afar...

1. If sentiment is anything to go by then this will undoubtedly hit the AC bottom line, i.e. profits.  Looking at this from a purely business perspective where in the recent past AC have raised rates on their access accounts and thereby bucking the recent trend in P2P (think reductions on FC, RS, Unbolted, GS, BM, with the one exception being LW who are currently in a more aggressive growth phase than AC), they are in need of additional lender funds.  What will the introduction of 2FA require?  A combination of maintaining the recent rate rise for longer than anticipated, increase in MLA rates (reduction in AC margin), increased use of underwriters, all will lead to increased costs and reduced profit.

2. Is AC capable of rolling back?  Does the business currently possess the flexibility to listen and pivot or has the drive to grow the business gone beyond being able to make reversals of policy such as this.  To me it's an acid test as to whether they've gone all corporate (generally hated by P2P investors, we're here for higher rates and because we think "alternative" finance), or are still the touchy-feely AC we've come to love (and hate at times ).

Interesting to see how this pans out.

What a strange interpretation.

By all means have it as an option , but why can't lenders decide for themselves ?

Because Nanny knows best