I kinda agree and disagree I suppose.

I lived in USA in the 90's and then moved to Canada. Banking system here seemed lightyears ahead of American in terms of functionality, user-friendliness, technology. And it seemed to endure until relatively recently. By all accounts, Canada is behind truly innovative places.

So, though it's late to the game, a lot of those things are still "innovation", to USA, late-trickling as they may be.