I think the Venmo comment may have been misunderstood. The reason that Venmo is seen as an unusual, and somewhat superfluous concept, is that the functionality

I think the Venmo comment may have been misunderstood. The reason that Venmo is seen as an unusual, and somewhat superfluous concept, is that the functionality is just expected to exist as part of every financial app, either legacy/mainstream bank or trendy new fintech upstart - it's really not anything special enough to require a separate system.