Earlier quoted context omitted.
> Restrict apps, but can still log in via browser. This isn't paradoxical. You treat the browser as a less trusted security domain than a phone, which usually has a secure boot chain, strong sandboxing, encrypted disk, reliable hardware cryptography etc, and therefore provide a different/better service on the phone. If a phone is missing one of these expected components then you're not the target market for the app,…
I disagree. My main bank allows several high-risk actions to be performed when logged in from a web browser, which are entirely impossible from the mobile banking app. It's completely ridiculous that I can't use my mobile banking app for day to day low risk, low volume transactions if my phone is rooted, yet I can do anything and everything with high values of cash and credit from a Linux machine running any web brow…
I don't understand, why people think so. Banks hire good developers. They don't pay them well (by banks' own standards), but they still pay enough to hire competent programmers.
Unfortunately, working in bank is highly competitive environment, that fosters sycophants and rewards socially adept people, good at obeying orders to letter. Who cares, what the programmers think, they are at the bottom of command chain anyway.
The fraud prevention is often split into it's own department. As for "computer security" department, it is a fang-less security circus, that exists to satisfy PCI DSS. In some banks it outright pretends, that web sites and mobile apps don't exist. All your data will be processed in "secure server enclave", managed by "certified professionals", while sending hashes of credit card numbers to Google Analytics.