Before we had secure phones, we used to get hardware gadgets from banks in order to secure access. Now that phones are secure enough, the phones act as the root of trust (and, unfortunately, SMS does as well...).
Yes, and phones are full of vulnerabilities because vendors provide security updates only for 2-5 years (high end being rare), thus making this a moot point.
Yes, and phones are full of vulnerabilities because vendors provide security updates only for 2-5 years (high end being rare), thus making this a moot point.