As one who works on the iOS app for a major US financial company, my guess would be they included some “security” tool/SDK that is having problems getting upgraded to iOS16.
I think this relates to management mentality when management are engineers.
Scenario: we should upgrade our .Net Framework from 4.6.1 to 4.7.0. and the answer is: why is that necessary? It's a lot of effort and extra cost.
Ok...
Now 4.8.0 comes out... The effort is doubled.
.Net Core 1.. 2.. 3.. and the effort seems impossible, and you'll have to rewrite a lot of your code base.
Now .Net 8 will be released next year, and you're still stuck with the old .Net Framework. This is not to say that every app needs to be updated, but the ones that do will require huge effort.
