In the UK at least HSBC and Barclays need a hardware token device to set up new payees and perform certain transactions. HSBC recently allowed (and encourage)

In the UK at least HSBC and Barclays need a hardware token device to set up new payees and perform certain transactions. HSBC recently allowed (and encourage) moving that token to the mobile app but they do NOT support using your phone number. Santander uses your phone number to send OTP by text for such purposes, and Monzo, the "modern bank" doesn't have a website, everything is done by app. Out of those Banks, Monzo is the only one that will allow you to run their app on a rooted phone.