Open Bank Project
openbankproject.com
openbankproject.com
* Protection: I want my SoV to remain mine--which means the bank should not be corrupt [ghost transactions, transaction reordering for generating unnecessary fees] and it should not be incompetent [vulnerable to social engineering, easily hacked, denial of services, etc.]
* Transactions: When I send MoE to someone else, it should get there and everyone agrees that it did, and if it didn't, some explanation why.
* Privacy: How much SoV I have and where I send/receive MoE should be between me and the bank and no one else.
* Audit-ability: Every interaction between the bank and my account(s) should be audit-able by myself. If someone is sniffing my account(s) for social engineering purposes, you had better believe that I want to know that someone tried to call 100 times asking about my accounts and the customer service rep should know it too.
Out of these, the UoA is the only matter where banks have the least control except in their use of fractional-reserve banking in the sense of lending money back into the economy. When banks over-cook this and put too much debt into the economy it screws with the UoA.
SoV == store of value MoE == medium of exchange UoA == unit of account
"Banking products" that only seem to concentrate on sales of more debt aren't something that end-users care about and in fact should be wary of. While there is an application that "sings your bank account information" using this Open Bank Project API is probably one of the most ridiculous ideas I have ever seen with banking systems, at least it isn't selling you more debt.