Is a DAO a bank?

I've been hearing a lot about DAOs lately, and I'm a bit confused about how they fit into the financial landscape. Could you help me understand if a DAO is essentially a bank? It seems to me that they handle transactions and funds in a similar way, but there are also some key differences, aren't there? For instance, I've read that DAOs are decentralized and rely on smart contracts to govern their operations, whereas traditional banks are centralized and have a hierarchy of management. And yet, both seem to involve storing and transferring value. So, is it accurate to say that a DAO is like a bank in some ways, but not in others? Or is this comparison completely off the mark? I'm trying to wrap my head around this new concept and your insights would be greatly appreciated.