Ann: Douugh launches instant virtual cards with Mastercard, page-58

DOU is not a bank nor a neo bank. They are more like a bolt-on or a service, that can be integrated with any banking platform. The major costs for DOU will be in establishing their platform with all kind of jars/fetch and make sense of data/humm payment solution and then they will just have ongoing running costs. Not to mention they will enhance the platform regularly so will be costs alongside any licenses.
Initially they do need to market the platform and hence I do expect lot of marketing driven expenses. But once the name is solidified, expect organic growth which again lowers the cost. This will also enable them to launch in other markets, with very low cost as it's more work on just integrating with new services.
DOU just got all licenses to launch in US. Goodments deal gives them AFSL locally. So no major expenses or roadblocks from what I see and understand.
Happy to hear other thoughts, as I may have missed something. But this analysis is what lead me to invest in them and I feel we are just at the start of a major SP RE-rate.
Take a look at IOU, they got banking license in Malaysia and a week later or so the SP just took off. Bell Potter is their broker too. Not saying DOU will follow same steps, but more a reference.