That does not protect you from incompetence or malice of the bank. Your bank is still a single point of failure. In the article, the bank claims: Someone

That does not protect you from incompetence or malice of the bank. Your bank is still a single point of failure. In the article, the bank claims: Someone had actually come into the bank and spoken to a teller, presented a driver’s license, and then correctly answered some authentication questions to validate the account. The bank does not claim that someone just "used the website".