[tedivm]

I think the main point trying to be made there was that there is nothing stopping banks from doing something similar. In other words the "data" the article keeps mentioning isn't the advantage that makes this possible for Square.

[yunfangjuan]

The problem is most banks don't have the technology to scan a customer's bank account and decides his/her credit worthiness. That's how antiquated banks are and they wouldn't touch anything subprime after 2008 financial crisis.