Great article, although one minor point —Facebook is quoted in USD while the big 4 banks are listed in AUD. The market cap is $334bn for the banks vs $398bn for Facebook on a like for like USD basis.

The big opportunity in Australian FinTech is aggregation. Almost every adult has holdings at more then 1 institution which makes it hard to track finances and wealth. Pocketbook and MoneyBrilliant are great first steps down that path, but without brand recognition and authenticated connections back to the bank they will struggle to get mass uptake. Hopefully the New Payments Platform and the Open Data regulations will open the floodgates….