After years of attempting and failing to keep customers' data secure, Citigroup revealed this morning a new program. Under the program, to be called "Open Banking," the bank will cease storing its customers' financial data on secure computers in its datacenter. Instead, the data will be stored on paper files in local bank branches. These files will be made accessible to anyone who cares to peruse them. In addition, randomly selected customers' accounts will be laminated and posted on the branch walls for even easier access.
"We and our competitors are regularly failing to protect our customers' privacy," said a Citigroup spokesman, who spoke to 2600 News on condition of anonymity. "So, by offering this plan, we feel we will more ably offer the level of security that we promise."
Customers signing up for the program will also be eligible for one free year of identity-monitoring service.