Not all fintechs though. I currently work at one that has an actual banking license, does its own risk models, customer support, and so on - it's essentially a

Not all fintechs though. I currently work at one that has an actual banking license, does its own risk models, customer support, and so on - it's essentially a bank, just invests a lot on technology. "Fintech" is a big umbrella term, I believe it won't last much longer - the same way everybody used "DotCom" in the past.