Douugh (ASX:DOU): The best thing since sliced bread?, page-717

I don't think 86 selling to NAB is good or bad. I think it's just a thing that happened. I do think it was likely not the path 86 might not have necessarily wanted to most go down - I saw something about an IPO at one stage, which very likely would have done ok.

I don't think starting a financial service is easy work, but I think it you have experience, understanding, a team, direction and some money, it's hardly impossible.

Within 1-2 years you will see a bucketload of DOU-equse / similiar / comparable services in the market. As we speak there are numerous fintechs in the marketplace who are doing similar sorts of things - even if not identical to DOU's exact model. It's only going to take one or two of them to merge. Find a banking partner. It's almost certain at some point will happen.

I mean right now, if a smaller- medium ADI's bought one or two fintechs that covered what DOU is planning, then instant competition.

Here's a specific example. Bendigo / Adelaide Bank buys out one or two smaller fintechs and spins off Up with announcements of partners for a variety of companion financial services that DOU is planning. Up is a pretty mature and well utilised product - it's a pretty easy sell.

Here's another example. ANZ announces they are starting an offshot millenial wealth management platform offering this that and the other. ANZ is basically totally absent from the neobank space. It's not going to be that way forever.

DOU somewhat exists alone in its field as being listed on the ASX but this it not a long-term competitive business advantage. It does not exist alone in its field in the marketplace and will not forever be the only listing of its kind.