National Australia Bank Launches Digital Advice Platform

by Tristan Hugo-Webb 0

National Australia Bank (NAB) has announced it is rolling out a digital advice platform that will enable customers to get personalized, tailored financial advice through their online banking portal. The new service, named NAB Prosper will initially be rolled out to 40,000 customers and focus on insurance but NAB has plans to extend the advice offering to include information on debt, cash flow, investments and estate planning.

Commenting on the new service, Anne Bennett, GM, digital and direct and digital services said,

“What this shows is a desire for our customers to be online. Whether it’s banking products, wealth products, or a combination of the two, customers now want their products easily accessible at any place, at any time.”

By launching this new service, NAB hopes to win over many new customers as 80% of Australians do not have an active relationship with a financial adviser. With customers increasingly turning to their online and mobile banking channels, this service could have considerably more exposure and will prove to be more convenient for customers than traveling to see dedicated staff at NAB branches.

Overview by Tristan Hugo-Webb, Associate Director, Global Payments Advisory Service at Mercator Advisory Group

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