As a person who was super into the rooting scene before getting iPhone-pilled in 2018 or so, I can see both sides to this issue.

On one hand, people that jump through the crazy hoops phone manufacthrers put up to get root are either technically-proficient or willing to become so and are, usually, responsible enough to keep their devices locked down and secure.

On the other hand, banks are subjected to literally all of the regulations, and breaking any of them usually incurs unbelieveable fines. Given that phones are the default computing device for most people these days and how (relatively) easily secrets can be extracted from rooted devices, blanket-banning them makes a lot of sense.

Nonetheless, modern Android is just as locked down as modern iOS, with a few exceptions (like adb access) and without the awesome hardware and software optimizations for that hardware that make video recording fast and web browsing even faster. Between this and nobody having a real answer to Apple Watch, I'll be an iOS stan for the foreseeable future.