I’m in Europe, and I don’t use banking apps. For the most part anyway, one of my credit cards pissed me off by switching to app only, then eventually I relented with one bank because I wanted a 2nd account that required the app.

Banks either verify by SMS (lol) or provide a passkey fob.

GrapheneOS should provide some measure of protection. You can also perhaps disable some tracking features using something like Warden (requires root) - although this hasn’t been updated in years and probably misses stuff now.