I'm coming from an IT background and perhaps one puzzling question about the current state of banking (at least, in my country) is this:
Why can we not adjust our own banking security preferences?
For example, when I travel to another country, I have to call my bank and say where I am going and for how many days I'll be in said country, or else if I attempt to use my credit card in that country, it will be blocked and I will have to explain to the bank that I was the one who made that transaction, but wait for three days to get it unlocked again. And this is very frustrating to do since I travel a lot.
Another example is the requirement to use two-factor authentication every time I have to login my bank's website. Now sure, I appreciate the security and all, but can I not have a say how I login to the website? Other banks are fine with username and password. Why can't my bank do that too?
So my question is:
Why haven't banks given the users freedom to choose their own security preferences?