Everybody is a bank nowadays. Why?

SoFi launched a bank. Robinhood launched one. Acorns launched one. Google is launching one too.

You can be forgiven for wondering if we didn’t have enough of *these* banks already. Is it Big Tech’s death wish to invite more regulatory scrutiny? Or the final coup de grâce to being the masters of the universe — steal the lunch of the finance bros who in turn stole it from you.

Regardless of where you stand on that ideological point, Fintech is on the boil. And debit cards are where it’s hottest.

So why is everyone launching a debit + checking combo?