this post was submitted on 15 Mar 2024
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I'm not an expert on digital banking, but this sounds like a no-brainer... Aside from marginally increasing compliance costs, why would this not just be the norm everywhere?
I mean... It was rhetorical. I know why.
It kind of is the norm.
Just a few countries like the US are really backward in terms of accessible banking - mainly due to having no federal ID, residence registration, etc. too on top of outdated bureaucracy.