Pardon for the delay. I'm surprised , i did not know this was not usual in other places. The biggest bank here is Bank of Brazil (state bank), and it has a lot of local physical sites in all over the country, with multiple units in bigger cities. A client ALWAYS has a main physical unit associated with their account, according to the address, and the person is required to physically go there to do many actions. There is a 2nd floor or rear area where there is a few bureaucrats or even the local manager, and the client has to appoint a meeting with them (usually by entering and waiting in a line at the moment, no internet pre-arranged way) to do stuff like big financial transactions, close or open the account, buy dollars or euros, seek advice about and start to use financial services of the bank like insurances retiremensts, etc. The front area of the 1st floor is where the money machines are located, where people usually get physical cash, pay bills, etc. The person has to use both a fingerprint and a password to authorize the operations, and of course there is cameras both in and out of the bank registering everything, and usually morning to afternoon there is a local security staff of 1 or a few (depending on the unit size).
Now with the context, finally to the on location authentication mechanism: The client can download the bank app, and login, but to actually DO anything in the app, the client first has to physically go to her-his main physical unit with the smartphone to be used, and go to a money machine. There, she-he has to login in the machine using both the fingerprint and password, and do the operation of authorizing the smartphone to be associated with the account, confirm by SMS on the smartphone, and voilá. ONLY NOW can the bank app properly be used.
That is why i called it 'on location authentication', the client has to go personally with the smartphone itself to a physical unit in order to authenticate the phone , so that the bank app can be used.
The fin-tech banks by contrast are 100% freestyle in every way, having no physical units and not demanding any sort of protocol to do equivalent actions, and that is loved by many, but there also the issue of less security, even much less security i dare to say, which was proved by a history of many crimes and frauds happening now that used them as instruments. Many people were victims of fraudsters that created bank accounts in their names exactly in these fin-tech banks, and did shenigans like taking 5 digit loans, buying physical goods, etc.
