Personally I prefer real-time transparent reserve banking. Let the free market decide whether to take the risk or not. You could make it such a way that if the reserve level is 40% everybody gets 40% of their deposit back. Bank runs will at least be fair that way and most importantly we will see lots of idiots get burnt.

To me that's one of the primary functions of a free market. It's natural selection for decision makers. Good decisions result in better consequences that end up creating a more prosperous future. Also I need to mention that fractional reserves have the advantages (although the disadvantages are far grave).

Let people learn through mistakes and let the market damage unwise investors. Also reap the (few) advantages of the fractional system. Simply make it transparent and let people know that they are only guaranteed a fraction of their money.