I was very pleasantly surprised by the security question system used by Ally Bank recently. They let you enter your own security question.

Why haven't they thought of this before!? I can come up with very good security questions that incorporate inside jokes with knowledge only I know and things I know I wouldn't share with anyone publicly.

These are things I will remember all my life and that nobody else will know (unlike say, my father's middle name). Unfortunately, Ally asked me for answers to three pre-determined security questions right after.

But there is hope!