they may be ahead with startups, but jesus, the banking system. they're still using checks [sic] over here. Can you believe that? it's 2011.
Even worse is most of the 'innovation' in the banking sector seems to be pointed at making old systems less painful (e.g. cashing checks via MMS etc.). Why not just eliminate them altogether? Major opportunity for disruption if you can overcome some pretty deep and wide moats.
Conversely I was thinking that Australia needs some sort of integrated Merchant Account/Payment Gateway system company, much like Stripe.