It doesn't work for everything; one of the banks I'm forced to use checks for how it was installed, and Android for some incomprehensible reason is happy to report that to any application that asks (along with lots of other information like bootloader status and developer mode — you really have fewer rights to 'your' device than random applications).
After opening the application, it complains about being installed through an "insecure method", and bails. Reinstalling through Google Play magically fixes that.
These "security checks" are spreading like measles, so expect to see this sooner or later.