Why did Optus buy amaysim, what will Open Banking mean for Aussies: Vertical Hold ep 303

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Optus is buying amaysim and launching a budget brand, but what impact will that have on cheap mobile plans?

We’re getting “Open Banking” in Australia — but what does that really mean? Special guests Finder Editor in Chief Angus Kidman and Finder Global Fintech Editor Liz Barry.

The MVNO space got a lot more interesting this week courtesy of Optus, which had a double whammy of news. Firstly, it’s launching the Gomo brand — already popular in South East Asia — into the Australian market, and Alex wrote about that here.

At the same time, Optus also announced it’s dropping a sweet $250 million to buy out amaysim, Australia’s largest independent telco — or at least it was. Again, Alex wrote that story up, and you can read it here. 

“Open Banking” might just sound like the times between 9-5 when your bank’s doors are open, but it’s instead a new standard that could rapidly change the way you use banking products — and this tech isn’t going to stop there. We chatted to Finder’s Liz Barry this week about the promise and features of Open Banking, and she’s also written up an excellent guide about it here. 

Vertical Hold: Behind The Tech News – podcast hosts Adam Turner and Alex Kidman  speak to Australia’s leading technology journalists every Friday to get the stories behind the tech news of the week.