Yes, you've moved the trust to the user's computer.
Now the question becomes "which would you trust with a large chunk of money, a regulated financial institution or the information security of a personal computer", which for me would be the institution. For most people I know, it would definitely be the institution, because personal computer security is terrible.
Now the question becomes "which would you trust with a large chunk of money, a regulated financial institution or the information security of a personal computer", which for me would be the institution. For most people I know, it would definitely be the institution, because personal computer security is terrible.