Absolutely true, they don't have hurdles same as a bank.
But that is an already established fact about DOU's business model. That's what makes it nimble, scalable and flexible.
It's not a 'bank' in itself like 86400 etc, so less rigidly managed.
Saying that, no bank would take on a Fintech without their own rigorous due diligence and regulatory requirements. DOU has had to go through that in Aus as well as in US. Also regardless of their business model, they have to still adhere to govt. AML and OFAC regulations, there's no escaping that. So yes, it has gone through its own rigors, albeit not as other 'Banks', which I think is 'THE' smart move. It's one of the major reasons investors see an upside to DOU (.. on similar lines, but not comparable, to Afterpay, which has proven its scalibility, nimbleness and flexiblity very well because it operates in regulation-light BNPL industry).
Just an excerpt from DOU's latest announcement:
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Absolutely true, they don't have hurdles same as a bank. But...
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