I think the key thing is that the staff that run the company are competitively paid. It’s just that instead of making short-sighted decisions that screw over the end-user to please wall street, the company is guided by the best interest of the users.

banking, i think, is one of the easier ones. Compared to telecom or insurance there is little infrastructure cost. Just secure servers. Couldn’t we even use Amazon EC2 for something like this? sure we would have to give re-imburse ATM fees. But there is already a community of banks that share ATMs. http://www.allpointnetwork.com/

Therefore our social behavioral models will be more accurate and will be used for good.

more features means reduced customer acquisition cost.

Who better to bank our identity with than a bank that has setup an EQUITABLE win/win relationship. Then we can have someone large to defend us and we can organize (ala union style) if they don’t.

You can better model and explain the risk aspect of banking. Here you get a better rate but you exchange either sale of your data or higher risk.

So for example – you don’t understand why it takes so long for a payment to process. A bank should be more like FedEx with tracking numbers.

By creating a system that acknowledges the Individual’s ownership of granular data and paying clients for its usage, we create a precedence of cost. I can see class action lawsuits of the future where citizens sue against the misuse of their data.