It sounds like you will have a credited number of Bitcoin that equals to the money you use to buy it with bank account.

The main source is from Financial Institutions Can Now Provide Consumers Easy Access to Bitcoin via Fiserv and NYDIG
First, it should be centralized platforms and also connect to banks, not good.
Second, who are owners of private keys for those Bitcoin addresses?

Two big questions and I guess the answers are not good actually.

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It can help to bring Bitcoin to mainstream, more deeply and faster but it is not good if you are care about privacy and anonymity.

satoshi created Bitcoin to beat the bank system and now people want to connect their Bitcoin with bank, hold it with bank control. Terrible idea.

That will still be the same as having your coins on exchanges meaning that it's not your keys then it's not your coins. Also, isn't New York planning to ban bitcoin a month ago, what happened to that? On an unbiased standpoint, I think this offer by the banks is a pretty good one because it can help people that are curious to try bitcoin but have a hard time navigating and managing their own bitcoin, this is pretty convenient.

This seems far too vague and it doe's actually give a timeframe on when it will be released. Banks already have some of the highest security on the planet, so it would make sense for them to work out their own systems for offering Bitcoin rather than doing it through this relatively obscure third party service. Heck, banks right now can refer any customers who want to benefit from speculating in Bitcoin over to paypal in some countries and eliminate any potential risk from hacking liability. Few people seem to appreciate that Bitcoin is actually a threat to banking institutions because it allows decentralizing "accounts", so I don't see them being overly eager to promote it and they might engage with already experienced exchanges if they had to do that.

If ever that will come to life sooner or later, we should expect that bitcoin's influence will spread much faster. Banks working with bitcoin and having mutualism towards each other could be the start of the revolution of a new era of currencies. If ever that happens, even those who do not seem to have any interest about bitcoin will be forced to learn about it as it becomes part of the bank and for sure, they will be suggesting that. Investments in bitcoin was deemed much better than in fiat so it will surely make a difference in the making.

Banks will stay away from a system they have no control over. Bitcoin is not controlled by anyone, bitcoin is not a centralized platform and Bitcoin has transparent transactions that are recorded on the blockchain and can never be deleted. To carry out further adoption of Bitcoin is still impossible. However, it is possible to use Blockchain as a superior recording platform.
The pros and cons of bitcoin adoption will continue.

Why do people need banks to hold, sell or buy bitcoins? What's wrong with being your own bank? Makes no sense at all. Bitcoin is a decentralized currency where you have full control of your own money/coins. If bank starts to get involved, it will no longer remain centralized. You will no longer have your "financial freedom". You in fact won't be the owner of the coins. The bank will be the owners. Remember, not your keys, not your coins!

Good to hear that banks finally crypto, but it's going to be custodial one, so there's no difference from the money you put in a bank. And it defeats the purpose of decentralisation, but others could view this as safe because there are investors, specially those early bagholders who lost their bitcoins because they didn't safeguard it.

On the other hand, we have a saying here "BYOB", so for me there's nothing wrong, but I still prefer to have and hold my own bitcoins and having total control of it.

Actually, the Banking system & Bitcoin both of it is working as a complement to each other here. If the banking system provides freedom in Bitcoin transactions, people from all walks of life will be better acquainted with Bitcoin and the use of Bitcoin in daily life will increase. This is very important for the mass adoption of Bitcoin. Again when it comes to privacy, people use decentralized platforms to avoid bank harassment, because no one trusts the bank.

So, I think, when the mass adoption of Bitcoin will happen, paper money will gradually disappear. Future generations will be users of "decentralized electronic money".

This was always inevitable. Banks won't just stand by and watch crypto exchanges make all the money.  Overall this is a step in the right direction.