And most banks still have brick-and-mortar stores where customers could come and identify themselves and collect their one time pad.
And a GByte of keypads would cover your banking need for a long time.
The problem is more that it works for some one-to-many relationsships such as banks, but not many-to-many relationships, such as emails, websites, etc. There have to be second or third parties.
On the hand, a lot of people seems to log in everywhere with Google Sign In or similar anyway.
And we could instead all have Google or Amazon devices with GBytes of one time pads. And that could be used to set up symmetric encryption, which should be more resistant to quantum computer attacks.
The only drawback is that we would have to trust the third party and everyone who could compromise the third party and every government that could put pressure on the third party :-)
Apparently, some cesium based list of numbers, again, was 20 years ago.
Point is, it was a one time pad...
They are often called OTPs though (i.e. one-time passcodes), just to cause confusion.
The argument against OTP is that by securely distributing the key of the same length as your message, you ostensibly already have a secure messaging mechanism; why would you need the OTP?
Actually this could be a nice service to offer now. We might worry that someday public key crypto will be broken, and we wouldn’t want all our old bank statements to become public at that point I guess.
Yes, it was inconvenient, but hardly an impossible thing to do. Banks manage to communicate the PIN for your card safely every time you open an account, I'm sure this could be done as well.
Also: my bank access is done entirely through an app that obscures its internal implementation. It could already be using OTP and it wouldn't make any difference to me, nor would I be able to tell(my point is that the user wouldn't need to keep a piece of paper that they would need to type in anywhere - the internal implementation of tools we use every day would change, but most users wouldn't even notice)