What Makes For Good Bank Security?

An anonymous reader writes: West Coast Bank recently enacted a new set of security measures to their login system augment their previous username & password only system. The new enhanced login security system(PDF) uses a scheme of cookies to identify known computers, and additional personality questions such as asking users about their favorite food in order to identify users coming from unknown computers. Upon first glance this seems to be an effectively trivial system that can be defeated by stealing cookies or personality answers, while still making the system harder to use for flaky customers such as myself that don't keep consistent answers to personality questions. However as I don't belong to any other banks I have no idea of how this compares to how other banks handle their security. Compared to other banks, is this system any good or is my bank just giving me the flim-flam on security in lieu of a real security system?