Why is it that my search engine can anticipate what I’m going to search for after just a couple keystrokes, my music player can string together 1000 songs based on a couple preferences, and my car can adjust whether I like to go through a turn in second gear, but my bank acts like an abacus is cutting edge?

While banks enjoy sophisticated algorithms to determine if I deserve a free balance transfer deal or am likely to pay my mortgage in time, why not make some of that computing power to make my life better?  Currently, accounts are controlled by no logic, they are static.  Applying just a couple if/then statements would transform a basic banking relationship that I can’t wait to dump into a long-term relationship that helps me achieve greater financial freedom.

Today, my bank cancels any bill payment or fund transfers (to savings) if my balance is too low one day.  No wonder this causes a ripple effect of late and penalty fees – exactly the kind of thing that keeps the underbanked away from banks.  Instead, if I don’t have the balance, my bank should trigger a prioritized series of partial payments and try again the next day until the funds are available.

Why couldn’t our bank offer a dynamic account?  This account would let me identify a number of priorities and would act on my behalf and within my means.  So, for example, I would prioritize bills that pay basic necessities (rent, utilities), then my most expensive debts, then myself for groceries (to spending account), then myself for short-term savings (to savings account, capped at certain fixed amount), then myself for a series of goals (vacation, college, retirement), then anything for discretionary.  Wouldn’t it be cool to have a visual interface to create such a waterfall?  Each item would include a couple simple rules and they would default to the best possible outcome and allow for the vicissitudes of life.