Great article Michelle. For several reasons, I am also skeptical as to the viability of neobanks in the long run. From a finance / investing perspective, I don't think the business model is borne out. The amount of capital burned by Chime, Monzo, etc. is really staggering. It seems like every 6-9 months, they have to go back to the well for a fresh $500mm round. The public markets would not tolerate that level of burn. The high burn is in turn a function of questionable unit economics. These businesses are paying hundreds of dollars to acquire customers (e.g. Chime primarily acquires customers via a $75 referral + $75 sign on bonus program) that simply are not worth that much. While Chime's numbers are not publicly disclosed, Monzo files an annual financial report that reveals ARPA of ~$30-40 per year. It's hard for any business to ever make money when it takes 4+ years to breakeven on a unit level.