A requirement "out-of-band communication [..] before any outbound wire transaction can be attempted" easily turns the processing cost (not price) from $0.02 to $20+ per transaction, a thousandfold increase, and that's assuming that this'd be offered as standard product and not a special case for a single customer.
If it's not made as a standard product, then it's really painful - it would mean that either the whole staff&systems would have to be trained for that customers needs (not likely unless you're bringing 10+% of the whole bank's revenue) or the customer wouldn't be able to use any standard banking channels ever, not the normal branches, not the normal online services, not the normal call centres, only directly through your private bankers.
I don't deny that there are _corporatist government regulations_ (which largely prevent the best qualified engineers/entrepreneurs from wanting to tackle the consumer fintech problems), but banks are dragging their feet and the #freemarket hasn't developed a viable alternative yet.