Financial innovations brought by technology
The things described in the article are certainly good but I don't count any of them as "innovation."<p>- Many countries have had free banking for decades now. The USA's banks have finally decided to stop gouging their prices, but that's hardly innovation. Overdraft fees basically are just a made up problem in order to extract money from customers. European banks have had a notion of "no money, no purchase" for ages now.<p>Ditto with fast transfers and lower remittance.<p>---<p>True innovation would be more control over your money. For example, you could have a bank account with $100 in it, and you allocate dollars $0-50 to be "online" money. This can mean different things, but for the sake of example let's say that means that you can go to <a href="https://bank.com/user/endisneigh" rel="nofollow">https://bank.com/user/endisneigh</a> and if I give you a special code that I create you can take an amount of money directly from my bank account, specified by the code. No need to use something like stripe.<p>Another example could be the ability to automatically change where money goes depending on its source. Got a deposit via Venmo? It goes to X. From your work? Goes to Y.<p>The future is programmable money. <i>That's innovation</i> IMHO.