I recently had the experience of trying to do a banking operation that required an in-person visit. For some reason this bank required me to do this operation at the branch that I originally opened the account, which is not where I live anymore, and it's very inconvenient for me to go there. So, while I was in another city of that country, I decided to try and handle that problem. I went to a branch and asked them to…
I used to judge banks until now I run a company that handles deposits. On the third day of launch I ran into a small bug that allowed some rogue users to drain all the money in our account at the time (which was about $400 only at least). Right then and there I fully understood why an organization dealing with money needs red tape as more of a safety harness than anything
In fact, I believe flexibility can ultimately lead to even greater safety than bureaucracy, which is, as Graeber put it, active stupidity. And while aiming for stupidity might rule out some classes of errors, it definitely introduces even more of them.