Typically open banking refers to a Banks provisioning of Oauth style APIs that allow users to share banking permissions with third parties. So a third party provider (eg payment company, budgeting app etc) can grab your statement data and trigger payments on your behalf just like you would from your mobile banking app.
ACH & SEPA are payments rails, which facilitate the interbank transfer of money. So for example, the app you have given permissions to make transfers to will request a transfer through the open banking APIs to your bank, then the bank itself will use the payments rails to process the transfer.
GSM, SS7, etc. are massive privacy holes _by design_.
The whole purpose of mobile networks is to track a devices location (so you can route data to/from it!). Of course its easy to do it if your the operator or someone who has compromised it.