pcr has a problem that join with him in his review's conclusions;

The Digital Revolution Was A Great Mistake

Paul Craig Roberts

Even the big banks that welcomed the revolution are finding that the cost of managing security could rise out of control and exceed the labor cost of the analogue system. Wells Fargo warns: “In today’s digital world scammers are using advanced tools like AI to make impersonation scams harder to detect. Caller ID can be spoofed, emails can be faked, voices can be cloned, and images can be altered.” This makes Wells Fargo’s current security measures vulnerable. For example, the bank uses recognition of a customer’s voice as a security check for providing access to customer service concerning a depositor’s account.

Scammers are just one problem. Hackers are another. Your identity can be stolen. Your account can be stolen. Your pension can be stolen. Your home can be stolen. Your credit card and your debit card can be hijacked. Checks you have written can be intercepted and altered. Entire systems, corporations, and government agencies can be held ransom.

And then there is “customer service.” The time-consuming struggle with an AI voice, the frustration of dealing with English language-handicapped foreign “customer service representatives” with no authority, the wait to be transferred to a supervisor, the need to go to a branch office because a previous security update erased account connections, and so on. What used to be an easily fixed problem over the telephone answered by the third ring can go on for days before being resolved.........more...........