| I’d suggest competition is strong. Not sure the value of an online only bank in Australia. Most banking is fee free, if your pay check goes into the account. FX fees are insane, but Wise solve that. Payments are free, and in most cases instant. Mortgages are competitive, and not necessarily through banks. Other lending has already been displaced from banking. Majors have apps and atm networks. Features like withdrawing from an atm using your phone. PayWave has been around for years. Apple Pay has been adopted. Not really sure what the wedge would be for an online only bank. |