Finally!, page-16

While they do allow for budgeting and other tools, the company has all the agreements and infrastructure in place to offer a legit neo banking product minus the huge capital requirements needed like 86 400 and volt who have chosen to take their own RADI (restricted authorised deposit taking institution) because they are piggy backing off the licenses of
1: US - Choice Bank
2: Australia - Regional Bank of Australia

In addition Douugh has the following agreements to offer end to end product using the latest technology and partners with unicorn fintech - stripe, plaid, empyr, galileo etc.

In all honesty, when i looked at it initially i thought its a glorified budgeting tool but digging deeper into the company they have all the necessary inredients in place to offer a competitive product including high interest savings account and share trading.


1: Licensing
Agreement with Regional Australia Bank
Regional Australia Bank Ltd (Regional Australia Bank) is the Australian Sponsor Bank that
provides the banking infrastructure, licencing, BIN sponsorship and services (Services) to
support the operation of the Douugh Banking Platform in Australia. Douugh has entered into
a services agreement with Regional Australia Bank under which Regional Australia Bank will
provide certain services, including onboarding services, account services and transaction
services, and products, being a savings account, for use by Douugh members

Master Program Agreement with Choice BankOn 24 January 2018 Douugh USA entered into an exclusive agreement with Choice Financial
Group (Choice). Choice Bank is the FDIC insured U.S Sponsor Bank partner that provides the
banking infrastructure, licencing, BIN sponsorship and services to support the operation of the
Douugh Platform.

2:Core Banking platform
Plaid Technologies, Inc.
Douugh USA entered into an agreement with open banking aggregator Plaid Technologies, Inc.
(Plaid), on the 5 April 2017 to allow it to access transactional banking data from a large selection
of banks in the U.S (Agreement). These include Chase, Wells Fargo, CitiBank, and Bank of
America. The level of data access authorised by customers is considered by Douugh to be a
fundamental component of enabling training of data models for its proprietary AI engine.
https://techcrunch.com/2020/01/13/visa-is-acquiring-plaid-for-5-3-billion-2x-its-final-private-valuation/

3ayment Processor
Stripe
Douugh USA entered into an agreement with Stripe, Inc. (Stripe), a certified U.S based payment
provider on 9 January 2020 to engage Stripe’s gateway technology to enable Douugh customers
to connect their existing credit and debit cards to the Douugh platform as well as use Apple and
Google Pay, to instantly fund their Douugh bank accounts (Agreement).
https://www.forbes.com/sites/donnafuscaldo/2019/09/19/stripe-now-has-a-pre-money-valuation-of-35-billion/

Galileo
On 12 March 2018, Douugh USA entered into an exclusive service agreement with Galileo
Processing, Inc. (now named Galileo Financial Technologies Inc.) (Galileo). Galileo is a certified
U.S based payments processor and is responsible for providing the necessary API’s to operate
a bank account and debit card construct with our issuing partner bank, Choice Bank and
Mastercard in the U.S. Galileo is a certified third party processor with facilities which support card
programs, including debit cards, prepaid cards and ATM cards
https://www.forbes.com/sites/jeffkauflin/2020/04/07/sofi-is-buying-payments-company-galileo-for-12-billion/


4:Rewards
Empyr
Under the terms of agreement, Empyr grants to Douugh USA a non-transferrable license to use
the URL and the API access key to enable Douugh USA’s internet-based access to the Services.
The fees payable by Douugh as consideration for the Services include marketing fees, credit card
tracking fees, user reward payments, integration Fees and monthly licensing fees also apply as
follows with Douugh to pay Empyr $7,500 per month commencing 3 months from the effective
date for the duration of the Agreement.
https://blog.empyr.com/cpr-effortlessly-ties-digital-ad-spend-to-in-store-sales-0
https://www.forbes.com/sites/julianmitchell/2016/12/13/empyr-the-o2o-startup-helping-yelp-and-microsoft-unlock-a-trillion-dollar-industry/


5:CRM
SalesforceOn 19 August 2019, Douugh Labs entered into a master services agreement and purchase order
with SFDC Australia Pty Ltd (Salesforce). Salesforce is a cloud-based software providing a
customer relationship management (CRM) service. The agreement includes services for mobile
messaging and email using a product called ExactTarget for 150,000,000 super messages per
annum, for 500,000 contacts and up to 100 users and 5 business units.

6: Credit/Debit Cards
Mastercard Australia
On 22 February 2019, Douugh Australia entered into an exclusive incentive agreement (Incentive
Agreement) with Mastercard Asia/Pacific Pte Ltd (Mastercard) applying to Douugh’s Mastercard
branded consumer and commercial debit, credit and prepaid card programs

https://australianfintech.com.au/fintech-player-douugh-scores-mastercard-partnership/Mastercard USA
On 12 July 2018, Douugh USA LLC (Douugh USA) and Mastercard International Incorporated
(Mastercard USA) entered into an exclusive incentive agreement to issue co-branded cards and
to develop and actively participate in initiatives to increase the usage of co-branded cards

7: Risk Management and AML
Blockscore
On 1 August 2019, the Douugh USA entered into a non-exclusive license agreement with
BlockScore. BlockScore operates an online information verification and authentication system
(BlockScore Services) which allows its customers to verify and authenticate consumer
information.

8:Share Investing

Drivewealth

On 21 May 2019 Douugh Wealth entered into a brokerage (carrying) agreement with DriveWealth
LLC, a broker-dealer registered with the SEC. Douugh has partnered with DriveWealth to provide
it with a modern suite of API’s to enable it to offer customers access to U.S securities via it’s
brokerage services in each market it operates. DriveWealth’s fractional share, dollar-based
investing technology allows any investor to own shares in the world’s most recognized U.S.
equities, regardless of stock price or deposit size.

https://www.forbes.com/sites/tomgroenfeldt/2019/08/16/drivewealth-brings-foreign-investors-to-us-equities-markets/

How fast have other peers grown ?

What does the Douugh application look like


Lastly management has credentials to make this a success

https://en.wikipedia.org/wiki/SocietyOne
https://www.smartcompany.com.au/startupsmart/profiles/fintech-douugh-neobanks/