Episode 122
The Great Unbundling — When Fintech Banks Start Looking Like Banks Again
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Fintech promised to unbundle banking. Instead of full-service institutions, we saw focused products: Revolut making FX cheap, Wise simplifying transfers, Monobank pioneering digital-first retail in Eastern Europe. But success demanded scale — and scale meant adding features that gradually transformed fintechs into fintech banks.
Challenger Banks, Neo Banks, and Compliance #
This episode explores how fintechs evolved from sleek apps into neo banks with licenses, compliance departments, and a growing resemblance to high street banks. Igor Tomych and Dumitru Condrea unpack how KYC fintech practices, EMI licenses, and regulatory oversight changed the landscape. They also compare the US vs. EU banking models and spotlight the Mercury Bank playbook for SMEs.
Eastern Europe’s Unique Role #
The Eastern Europe fintech scene offers some of the clearest case studies, with the Monobank case showing how rapid adoption and digital trust can redefine customer experience. The conversation also touches on crypto fintech, stablecoin banking, and the rise of super apps that expand beyond finance into lifestyle services.
Looking Ahead: The Fintech Future #
As fintech banks continue to scale, the real question is not whether they will look like banks but how they can avoid becoming trapped in the same inefficiencies. Will personal finance apps, crypto integrations, and wealth management tools create more agility or more bureaucracy?
Subscribe to Fintech Garden to explore how today’s fintech innovators are shaping the future of digital banking — from compliance and regulation to trust and customer growth.
Guest Appearing in this Episode
Dumitru Condrea
General and Product Manager
Dumitru is accomplished General and Product Manager with over 15 years of experience, specializing in Software Development (Fintech, CRM, SaaS), finance, and project consulting. Skilled in leading cross-cultural teams, navigating Agile, Lean Kanban, and SAFe frameworks, and aligning business and technical requirements to deliver innovative solutions.
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