Loot’s arguments against not holding a banking license seems quite strong to me? Are they really at a disadvantage by not being a bank? If they can build a current account experience on top of another banks current account is that a disadvantage at all?
Edit: presuming they build on top of a ‘new age’ banking stack rather than a legacy one - however I’d assume there will be quite a few ‘new’ banking stack as a service provider within a few years.
On a sidenote - Wirecard is killing it in the market - every startup seems to be using them. Looks like they are the platform for a lot of innovation (I hope whoever came up with their platform approach gets some recognition!)