Earlier quoted context omitted.
AFAIK, in the EU all banks are required to have "strong authentication" which usually means using 2FA via biometric authentication on your phone. Classic Google Authenticator does not seem much more friction than that.
That is not true. Banks in the EU seem to vary a lot, as the definition of “strong” is not defined (plus many banks have not introduced it yet). Biometric is definitely not required. I use hw tokens but at least one of my banks is trying to move to weaker auth.
I am surprised your bank is moving to a weaker auth, what does that mean?
I have 3 bank accounts in 2 countries and they all switched to biometric because it's just a simpler experience then the hardware token or "mobile token" they used before.