The real threat to Aussie banks

Seth Merrin, the founder of Liquidnet, a large New York based FinTech company which facilitates block trades between buy side firms says that the Aussie big banks should be less worried about FinTech startups than the threat of big global banks heading downunder. “The US Banks have become ‘too-too’ big to fail. We were worried about it before the financial crisis. They’re only bigger now. The European and Australian banks are continuing to pull back from being global. They could be disrupted by the continuing expansion of the US banks and the amount of capital the US banks have. Right now if I were an Australian bank or a European bank, I’d be much more worried about the expansion of the US banks than being disrupted by some of these technology firms.”