No, we have convenient online services in spite of the endless security theater that permeates consumer tech. All it's done is gradually increase maintenance burden and technical complexity until useful features are slowly stripped out to create a more "streamlined" experience. The mobile app for my credit union has become so shitty that I'm not even sure if losing access to it is a deal-breaker for rooting my phone - I already prefer to do my online banking and shopping on my laptop.
There is no "just works" technical solution for a problem caused mainly by naivete and gullibility. Governments and the private sector know this, of course; as others have said, the real purpose is to control users, not to protect them.
Why is the banking server trusting the client? Thats criminally incompetent security. If your website gets hacked because a client had "root" whose fault is it?
I see the cause of confusion. I was assuming and talking about the case of the legitimate user have a root/non locked down device as being imputed as the "attacker". I don't think he was talking about other people stealing or having acces to your device. And in any case, all bets are off then if you meant that scenario. At least with a browser user can choose not to save passwords and the attacker won't get bank creds, so even in that case a web app would be better.
There is no "just works" technical solution for a problem caused mainly by naivete and gullibility. Governments and the private sector know this, of course; as others have said, the real purpose is to control users, not to protect them.