Why does my digital bank need my phone date and hour to be correct?

I’m not from Information Security or any IT related area. But I want to know if there is any security reason for my digital bank to demand my phone to be on "Automatic Date & Time"?

For example, if I’m abroad, i cannot transfer some money to a friend for because it says my date & time is incorrect.

Is that a badly programmed software or does it have a purpose?