That can't be right. My onyx boox note air 2 eInk tablet lets me install the google play store by registering myself as an AOSP developer and enrolling my device's serial number or GSF identifier with Google using some Google Form that some android team somewhere's automated by now. The device has no hardware security features from what I can tell. There's no way this platform would pass muster with any bank.
I have the successor device, the Boox Note Air 2, and don't remember how I installed Google Play on it, it was so easy as to be not even notable. Though almost everything I use is available on F-Droid other than my fancy calendar and contacts applications.
> There's no way this platform would pass muster with any bank
"Any bank"? Although the bank I use locks NFC payments behind such checks (which is not a big loss since a physical debit card offers the same functionality), anything else still works otherwise. Most of the things are available through the website (which fits well on mobile too), and mobile BLIK payments can be done from the Android app which works inside Waydroid with microG.
There's no reason other banks can't work the same way and it's outraging when they don't. Look around for a better bank.
The bank doesn't have to actually be secure, only tick certain boxes.
At least BankId (digital ID thing in Sweden) and some of the Swedish banking apps don't care about if you are rooted on stock Android. I haven't tried custom ROMs in many years, but perhaps it is time for GrapheneOS these days.
Now, if you want to use your phone as a debit/credit card substitute that is different (Google Pay cares, and I don't use it thus).
Anyway, why should banking apps care? It is not like they care when I use the bank from Firefox on my Linux laptop.