, with the most sophisticated banking system
Any American who believes this should try living overseas for a year or two. The US banking system is insanely backwards. Numerous aspects of the US medical and government systems as well. It's hard to explain it to you unless you experience it.
Checks are just one symptom (in Iceland, 15 years ago bank tellers would look at you weird and have to get the manager if you had a personal check, and 10 years ago, stopped taking them altogether). For like 15-20 years, we've had free instant bank-to-bank money transfers (no third party involved), everyone on the same service, to the point that if someone is collecting money for a gift for a coworker's birthday, it's always been, they just send an email with their bank details, instead of going around and collecting cash. All your bills - all of them - just show up in your bank's inbox. On and on.
I mentioned the medical system. Let me give a random example. In the US, you go to a doctor and they determine you need a prescription. They or their receptionist have to ask what pharmacy you want it at. It gets routed through SecureScripts (before that, it was all phone based!), and depending, you may also need to also call into the pharmacy before you go there - and if you need it "transferred", it's a multihour process. Here? The doctor just jots it into their computer, that's it. You can literally just walk out of the doctor's office into the pharmacy next door (or any other pharmacy), tell them your name, and they go grab your order.
Everything is connected. Everything is interoperable. All keyed to your kennitala (ID number) . And the kennitala is only a key, not a password. The fact that a SSN in the US is treated as both a key and a password is insane, from a security standpoint; by contrast, you can just post your kennitala online, it's fine. We have multiple actual authentication methods. The most convenient is the Auðkenni system. Our SIM cards store credentials in a separate cryptographic chip. When we need 2FA, for any business or government agency (all on the same system), it sends a special SMS that the phone routes to the SIM card to process, and then (at the OS level) pops up an authentication dialogue, so we have universal 2FA, linked to our kennitala, in all of our phones. It's been this way for like 15+ years.
Or let's talk taxes. You all know what it's like in America, so let's explain what it's like in Iceland. I get an email letting me know it's tax time. I go to the tax office website. I get 2FA login via my phone. My tax forms are right there. They're already filled out, with all of the information already collected. For like 90% of the population, it's just click through, verify it's correct, and submit. Some people may have some things that weren't logged, such as overseas investments or whatnot, but for most people, it's like a five minute process.
On and on. It's been so weird seeing America getting things 1-2 decades after us and acting like, "wow, we're leading in banking technology!", etc. No, you're an aged dinosaur, way behind the rest of the world because none of your systems work together and you're so slow to adapt to change.
