I disagree completely - the reason the US banks are behind is because the heavily-regulated environment they operate in means they are not subject to free marke

I disagree completely - the reason the US banks are behind is because the heavily-regulated environment they operate in means they are not subject to free market competition, and they have no incentive to capitalize (pay for) proper upgrades when they don't have any competition that will take away their market share if they don't. It's the same reason our internet speeds are subpar compared to the rest of the world -- when you have government-enforced monopoly status, you are going to lag behind the free market. Make it easier for new ISPs to enter the market, and you will see AT&T and Comcast all of a sudden deciding it's worth it to offer a better product. Make it easier for new banks to enter the market, and you will see Bank of America etc all of a sudden deciding it's worth it to offer a better product. When people see a market that isn't operating efficiently, and then proclaim "Well the reason this inefficiency exists is because the government hasn't forced them to be efficient!", that is personally very frustrating to me.