I would caution the decision makers on this. The line between a secure device and a useless toy is perforated and hard to see.
If I can't use banking or my NFC wallets on my phone, it has become 90% useless. The other 10% of usefulness is texting and calls, which every other phone can do. Unfortunately, this mostly means using the closed android ecosystem.
Maybe, but there's no technical reason for this. As I've mentioned before, I can do banking just fine on my Gentoo machine where the entire corpus of software on it, is FOSS and compiled by myself.