Banking regulations and poorly understood rules by lawyers transform into monstrous implementations of security for banks.
For example, my banking app requires Face ID to unlock it and to approve payments. But for certain types of payments, such as more than 3k USD, instead of using Face ID to process the payment it requires and SMS OTP entered into the app. Which tends to suck when I'm using another SIM or if the SMS does not arrive in time if I'm traveling internationally. How on earth do they think SMS is more secure than biometrics beats me.
For example, my banking app requires Face ID to unlock it and to approve payments. But for certain types of payments, such as more than 3k USD, instead of using Face ID to process the payment it requires and SMS OTP entered into the app. Which tends to suck when I'm using another SIM or if the SMS does not arrive in time if I'm traveling internationally. How on earth do they think SMS is more secure than biometrics beats me.