it has nothing to do with your bank and everything to do with the company your bank used to whitelabel their app.

most banking apps are from a handful of companies. those companies scrape you for as much data as they can and sell it to other companies.

things like, balance, location, proximity to points of interest, length of time spent in points of interest, etc.

so you might be thinking you're just in bed with your bank, but your bank turned out the lights and has a camera streaming your private information to the highest bidder.