[rvooda]

There are many theories in this post, but no facts.

As the comments depict, becoming a bank will only make things harder and if someone trying to get profits out of a product or a service is wrong, then everything in this world is wrong.

You are talking about legacy software used by banks. Are you trying to say that we should not advance in financial systems? Or are you saying that they are superficially unbreakable?

[neotek]

I think the author is saying neither of those things, but that bank software is pretty much uniformly rooted in the stone age, updates come at a glacial pace, and Apple could use its significant software engineering prowess to build something substantially better.

He gives the example of Apple being in a better position to detect fraud, for instance, by virtue of the fact that Apple knows where your phone / watch is, and by extension where you are, compared to a credit card company that only knows where your card has been used.