Customer acquisition costs make standalone Fintechs expensive to scale. Could partnerships and plugins be the answer?
Your analysis is quite precise, and spot on. But you haven't taken into account 2 things the wave of decentralisation demand from consumer & the red tape regulations which prevent such partnerships. Those factors may dial down the segments these plugins will work.
I also a see a possibility of revers plugin, where the consumer facing aggregators like current/savings or payment process wallets. Taking in the heavy lifting of acquiring expensive customers and engage in ease of access of other products. Or else there can be giants like CRED India inc , who enter into the market with the some purpose of acquiring customers with reward, get the processing of payment through them directly or indirectly, rank them and re sale them Exclusively/ Non exclusively. I personally stay away from those app.