Josh and Zack conduct a post-mortem on Chase's now-defunct Finn digital bank. Josh composed a eulogy that includes a lot of language from Finn's launch PR in 2017. Apparently millennials weren't looking for things like 'happiness', 'emotions', and 'reflection' from their banking app.

Anyway, the hosts said that incumbent banks should play to their strengths, which include strong brands and branch networks.

Next up, Zack spoke about personal finance app Dave launching a bank this week and the difference in the Dave banking product versus the Finn offering. The app focuses on helping people avoid overdraft fees and that touched a painpoint that millions of Americans feel. Quietly, Dave amassed a userbase of 3.5 million users. It made sense to launch a bank account.

Also, Monzo and Revolut were both in the news (again) this week with 'imminent' launched in the US. We've been here before and European (and American!) challenger banks continue to find it hard to acquire a US banking license