People like you or I may know what we’re doing with a rooted device, but I think the issue for the banks is that they can’t guarantee that someone with a rooted phone knows what they’re doing or isn’t using a malicious app, so they have to be cautious and block all rooted phones.
An app that requires root may look like a normal app but it could be a trojan that modifies banking apps in the background (eg patches them on disk or in RAM so transfers done through the app go to a different recipient). There’s been malicious apps in the Play Store in the past, and rooted apps have way less oversight - some are literally just APK files attached to XDA-Developers posts or random blog sites.
People like you or I may know what we’re doing with a rooted device, but I think the issue for the banks is that they can’t guarantee that someone with a rooted phone knows what they’re doing or isn’t using a malicious app, so they have to be cautious and block all rooted phones.
An app that requires root may look like a normal app but it could be a trojan that modifies banking apps in the background (eg patches them on disk or in RAM so transfers done through the app go to a different recipient). There’s been malicious apps in the Play Store in the past, and rooted apps have way less oversight - some are literally just APK files attached to XDA-Developers posts or random blog sites.