The whole point of banking that people have forgotten is trust.
Large banks have gone to great lengths to teach people that banks can never be trusted
I trust them a whole lot more than any random fintech company. At least with traditional banks, there is some amount of protection available.
Put differently:
Less than zero: trust to place in random fintech company
Zero: trust to place in random bank
Very low value: trust to place in a carefully selected bank
Moderate value: trust to place in FDIC