5 things you need to know in Australian tech today

Facebook’s Mark Zuckerberg. Photo: Getty Images

Welcome to a brand new week:

1. The federal government has kicked off a review to figure out how the open banking regime should work. Treasurer Scott Morrison appointed King & Wood Mallesons partner Scott Farrell, a member of the government’s fintech advisory panel, to lead the independent inquiry, which will report back the best way to allow consumer data to flow freely from the major banks to newer players. Read more here.

2. Fintech hub Stone & Chalk is opening a Melbourne co-working space next month. Big-name corporates such as NAB, ANZ, AustralianSuper and Liberty Financial have backed the project, which will see 60 desks co-located with agtech hub SproutX at 459 Collins St in downtown Melbourne. Read more here.

3. A famous Silicon Valley pitching contest is coming to Australia. Tech community execs Julia French and Marisa Warren have convinced TechCrunch Battlefield to fly out for a Sydney event, where Australian early stage businesses will compete to take home a $25,000 prize and an all-expenses trip to San Francisco to compete against the world’s best. Read more here.

4. TechnologyOne has threatened to sue a customer for more than $50 million. The public spat between Brisbane City Council and its tech supplier is not getting any closer to resolution, with the public company promising legal consequences if the contract is terminated. The council has not paid TechOne since October for the project, which is nowhere near finished. Read more here.

5. You can buy that T shirt that Mark Zuckerberg wears all the time. Vresh Clothing has studied closely the materials and dimensions of the grey top that the Facebook boss apparently has custom-made for more than $380 a piece, and is selling the replica “Zuckerberg Shirt” for $60 each. All profits go to the charitable organisation Chan Zuckerberg Initiative. Read more here.

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