Debanking is a real problem for fintechs operating in Australia. Local companies and foreign intrants alike are not immune to a 30-minutes-to-midnight text saying “your accounts will be closed from tomorrow”. 

Stuart Stoyan, founder of Moneyplace and former chair of Fintech Australia, is in no mood for making nice after five years of inaction from governments and regulators and feeling the humiliation himself of being told you can’t be trusted with your customers’ money, or data. 

We discuss who’s been broken up with via text and ghosted, the chilling effect on doing business as a fintech in Australia, and Stoyan’s views on the real reasons why banks have had to be told by the top finance cop, “don’t be dicks”. 

Produced by Rachel Williamson and Charis Palmer, with sound engineering by Kevin Hirshorn. Music credits to Raz Burg and BalloonPlanet.