Episode 122: The Great Unbundling — When Fintech Banks Start Looking Like Banks Again

The fintech revolution began with simplicity. Wise (formerly TransferWise) made cross-border transfers seamless, Revolut gave users instant access to FX, and Monobank in Ukraine reshaped retail banking. These companies weren’t banks. They were lean personal finance apps, agile alternatives to traditional high street banks.

But the story didn’t end there. Over time, these fintechs started adding layers: investments, crypto, insurance, wealth management, and even stablecoin banking. With Revolut obtaining a banking license and Wise expanding into full-service offerings, the industry is witnessing a major shift: fintechs transforming into fintech banks.

Complexity vs. Complication in Digital Banking

In this episode, Igor Tomych and Dumitru Condrea dive into a crucial distinction—complexity versus complication. As fintechs evolved, their once-simple models became multi-layered ecosystems. Features like KYC fintech compliance, EMI licenses, and ISO standards added both resilience and bureaucracy. What began as disruption is now beginning to mirror the operational depth of legacy institutions.

Regulators, Compliance, and the Future of Fintech

Regulators have played a pivotal role in this evolution. The introduction of the EMI license created space for challenger banks to compete with established high street banks, while fintech compliance frameworks brought legitimacy to fast-moving startups. The episode also explores the US vs. EU banking innovation gap, the rise of Mercury Bank for SMEs, and the lessons from Eastern European fintech, including the Monobank case.

Why This Matters for the Fintech Future

The line between fintech disruptors and traditional banks is blurring. Companies that once positioned themselves as “bank alternatives” are now neobanks or even super apps—centralizing financial, crypto, and lifestyle services under one brand. The future of fintech will hinge on digital trust, customer adoption, and the ability to scale without losing agility.

At DashDevs, we help fintechs, banks, and startups manage this complexity—from digital trust frameworks to compliance-driven architecture.

Get in touch with our experts to build your fintech future.