[hchdifnfbgbf]

How isn’t that currently possible? In America, your bank is already required to keep a semi-permanent record of your state issued identification for anti-money laundering/terrorism financing reasons.

I can see concerns about it becoming a widely used form of SSO, potentially even mandated, and that destroying privacy. However, banks and credit are cases where you already do not have that privacy, so they don’t seem like a very compelling example to point to.

[dazc]

In the UK, your bank will have a copy of your id to prove they carried out basic id checks - it currently ends there.

[blitzar]

The bank can, will and do report transactions to the government as well as annual interest etc to hmrc - as far as I am aware they use national insurance numbers in those reportings.