I see your point and it's valid in this context. But both ends of non-ownership contribute. One doesn't own the smartphone and one doesn't own the bank account.

The National Credit Union Federation of Korea (NACUFOK) represents over 800 member-owned unions (https://www.cu.co.kr/english/main.do), and then there is the even larger Saemaul Geumgo (MG) network which operates as community credit cooperatives with millions of members. These people ostensibly own their "bank" accounts.