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There are a lot of fintech companies which are a wrapper of varying thickness over an underlying provider which was willing to do a smart bizdev deal but wasn't capable of shipping their own modern mobile/web experience.
The unsophisticated way to look at this is that the two companies are fundamentally in an oppositional relationship and either the startup learns how to go full stack and/or commoditize the underlying, or the underlying hires a web team and replicates startup note-for-note.
The sophisticated way to look at it is that no, this is simply a channel strategy, and all parts of the channel have survived with differentiated players for generation, so a startup playing at a particular level of the stack is not a competitive threat to other parts of stack.
The galaxy brain version to look at it is the unsophisticated way of looking at it is basically entirely right but they expect the transition to happen too quickly.
