> most banking apps

This really depends on the apps. I have used over 10 banking apps on an Android phone with an unlocked bootloader without ever encountering any issues. On a device rooted using Magisk, the MagiskHide masking feature successfully bypasses the apps' root checks in my experience.

> On a device rooted using Magisk, the MagiskHide masking feature successfully bypasses the apps' root checks in my experience.

Sure, the protection currently isn't bulletproof. But wait until it becomes mandatory for TrustZone to participate in the attestation.

You're right that more advanced forms of hardware attestation would defeat the masking if Google eventually implements them.

I'm hoping that Microsoft's support for Android apps and integration with Amazon Appstore in Windows 11 will hedge against Google's SafetyNet enforcement by making an alternative Android ecosystem (with fewer Google dependencies) more viable. Apps that require SafetyNet would most likely not work on Windows 11.

> I have used over 10 banking apps on an Android phone with an unlocked bootloader without ever encountering any issues.

You have 10 accounts at different banks? I thought I was bad with 4

Well, this also includes credit cards. In some countries, unused and barely used credit lines improve one's credit score.

Ah yea, I forgot about unused credit lines. I used to close those until I checked my credit one day after closing on of the older ones.

Obviously anecdotal, but literally none of those examples I care to use on my phone anyway. Overtime, my phone has just become a glorified camera with some messaging features.

I've used banking apps and Google pay on my rooted unlocked phone for several years now. True, I'm still on Android 9, so perhaps it will be worse when I upgrade.

Using Magisk and Magisk Hide. Though oddly enough, none of my banking/credit card apps make an issue of being rooted, so they're not even in the Magisk Hide list.

I have an unlocked Xiaomi loaded with Lineage OS and Magisk, all the apps work - banking, Netflix, you name it.

That is likely to change in the near future. Hardware attestation of bootloader state is increasingly available. This is currently bypassed by pretending to be an older device that doesn't possess that capability. As long as device bootloaders continue to differentiate between stock and custom OS signing keys it won't be possible to bypass SafetyNet.

Yeah, it seems you are right. I haven't been actively tracking the custom ROM market, but it seems Google is trying really hard to achieve widespread hardware attestation. Or they could just be waiting until all the old devices are off the market, so all of the "Hardware attestation: Unsupported" response cases can be marked as UnlockedBootloader with great confidence.