[rlpb]

AIUI, EU regulation requires 2FA in finance now, but the 2FA must also confirm details such as a target account and/or amount.

Authenticator apps (at least those that use TOTP/HOTP) can't do that. SMS can. So can card readers but people hate having to carry them around. So we're stuck with SMS.

[jbverschoor]

You can use the app as a second factor. But you’ll need to transfer on your pc