Ann: Half Yearly Report and Accounts, page-82

I can see why people would look at this and say it’s going overboard. But we have to look at the companies culture as well. Part of the attitude at tyro is that they challenge the traditional perceptions that people have of their banks. at this case that may mean raising their hand and saying we stuffed up and we’re gonna set aside some money to support anyone who can show they were adversely impacted. They are also doing that within their means.

I think it’s brilliant. Anyone seeking to litigate against them is stuffed. You walk into a court and the judge would say, they have a process to seek compensation, why are you wasting the courts time. It also puts a lot of pressure on their competitors. The next time they fail the media will be saying, hey, if tyro can set up a claims process, then why can’t CBA, or NAB. Even Square won’t get off lightly the next time they have their next outage.