[alistairSH]

Two problems I see with this approach...

1. Consumers are terrible at security. Asking them to subscribe to a password management/MFA tool is likely to fail. If this were baked into iOS/Android, this would be better.

2. Many banks don't support this MFA scheme. A quick poke around 2fa.directory shows a massive number that don't support MFA at all, and another huge bunch that do SMS/email but not software/hardware. This puts consumers in the position of juggling multiple MFA schemes to access various sites.

I don't disagree with you in principle. But until there's a more standard approach to MFA, people will continue to use SMS because it's easy and broadly available as an MFA scheme.

[ghgdynb1]

On top of that 1Password is quite pricey, albeit fully featured. I probably wouldn't use it if not for my family's plan.