There are factors to consider like the required KYC documentation for the chosen bank account and AML stuff. Selfkey would be releasing their bank accounts marketplace though. It seems like it will make the application process more efficient and easy that it can be completed in a matter of minutes. What are your thoughts on this?
Could you please elaborate more on the red and bolded text? Like how would they do that.
For now, I don't think the rules will change, not with the KYC and AML processes required from the banks. They cannot do away with it even if they are going to use the blockchain technology in their banking system. The KYC and AML are required by law. Duly registered banks are bound to stay within the existing legal policies and regulations.
From what I know, they are reliant to a 3rd party identity service to take care of any KYC/AML compliance needs, though most banks still need personal visits for you to officially open one. But they claim that they'll be adding banks that won't need personal visits soon. I hope it's true.
About the red bolded text, here's what I meant by that:
https://selfkey.org/bank-accounts-marketplace/