When was the last new entrant into Australian retail banking?

Now, this is a great question for policymakers to address if they want to get serious about improving competition in the retail banking market. I honestly cannot remember when it was that the last new entrant emerged. All of the existing banks have been present for decades. The non-banks only participated in home loans (assets) rather than deposit-taking (liabilities). So, why have there been no new entrants? Presumably because the barriers to both entry and effective competition (or the scale, funding, and cost of capital advantages of the incumbents) are so exceptionally high. Maybe Mark Bouris’s new business, Yellow Brick Road, can break the drought…Interestingly, the last time I can remember a company seeking a new banking licence was GE Money back in the day when they bought Wizard. But they never went ahead with it…