Good article. It amazes that pretty much all the (Australian) banks and (Australian) paypal only allow SMS authentication. I'm not even an IT person and I still know this is shit and open to abuse.
Secondly, it's a massive pain in the arse when you're overseas and in a country that doesn't have a roaming agreement with your network (Vodafone - I'm looking at you!). You are therefore locked out of your accounts until you return to a country that you can access SMSs from. This has happened to me numerous times.
However, I now have a follow up question - what are people's thoughts on google authenticator/authy etc?
google authenticator is decent and better than SMS. But it is not as secure as U2F.