I think there's generally considered to be three classes of authentication methods
- something you know, like a password
- something you have, like an RFID card
- something you "are", like a fingerprint
You can add multiple of these and choose from different categories to add security, but each time you do it also gets less convenient. You could require a birth certificate, DNA test, and social security number for any access to a bank account, but then it wouldn't really work as a checking or savings account, and if you lose your birth certificate you're locked out of your account.
Definitely worth considering the other side - when you need to access the account how much inconvenience and delay are you willing to put up with before you can? For a checking account it seems like people usually just want a single one of them - the debit card, account login, or face/fingerprint to authenticate
- something you know, like a password - something you have, like an RFID card - something you "are", like a fingerprint
You can add multiple of these and choose from different categories to add security, but each time you do it also gets less convenient. You could require a birth certificate, DNA test, and social security number for any access to a bank account, but then it wouldn't really work as a checking or savings account, and if you lose your birth certificate you're locked out of your account.
Definitely worth considering the other side - when you need to access the account how much inconvenience and delay are you willing to put up with before you can? For a checking account it seems like people usually just want a single one of them - the debit card, account login, or face/fingerprint to authenticate