This chap has no grasp of what hes talking about, there are multiple mechanisms of attack in the system he has outlined and if you look carefully at his proposal and call the "secret hashed ASCII email address" a "userrname" and the pin a "password" you can see clearly he is playing simple word play games and has no grasp of the weaknesses that are inherent in even the more secure mechanisms, anyone who feels that the banks methods are super secure and I'm sure believes that they have never been broken are deluding themselves, all have been broken and will continue to be able to be broken as even the best mechanism is open to implementational flaws, these can include simple tampering with the authenticational software locally or remotely or even more trivially using malware to hijack the login page and misdirect you to servers that make a nice list of all your inputted "secret" data, the list goes on but the point is he needs a refresher course in security methods and their flaws.