NAB gets down and under to overhaul SME business loans

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National Australia Bank (NAB) has unveiled a complete overhaul of its existing business standard loan form contracts that will “benefit” over 130,000 Australian business owners.

Four Australian banks sign up for Swift’s global payments innovation

New addition to Swift's network

Four Australian banks, Australia and New Zealand Banking Group (ANZ), Commonwealth Bank, National Australia Bank (NAB) and Westpac are now live or planning to implement Swift’s global payments innovation (gpi) initiative. According to Swift, these Australian banks represent over 80% of cross-border payments flow for Australia. The banks all say the same stuff – so […]

Australia’s UBank unveils virtual assistant for home loans


UBank, a subsidiary of National Australia Bank (NAB), has launched RoboChat, Australia’s “first virtual assistant” for online home loan applications. RoboChat will guide customers through the online mortgage form by providing real-time input on questions like “what term do you offer on home loans?” and “do you offer redraws and how do they work?”. Lee […]

Apple Pay defeats Australian banks in payments punch-up

Apple Pay

Apple Pay has emerged victorious in its long-running feud with four domestic banks over their permission to collectively bargain with Apple and boycott Apple Pay. The Australian Competition and Consumer Commission (ACCC) has issued a determination denying authorisation to the Commonwealth Bank of Australia (CBA), Westpac, National Australia Bank (NAB), and Bendigo and Adelaide Bank […]

Morgan Stanley and National Australia Bank to leave R3?

Going separate ways

Morgan Stanley and National Australia Bank (NAB) are understood not to be renewing their membership with the R3 blockchain consortium.

Bolero powers Bank of China’s first-ever electronic credit

McKinsey acquires PriceMetrix

Bank of China (Hong Kong) (BOCHK) has used Bolero’s ePresentation solution for its first-ever electronic back-to-back documentary credit, reducing the time required to help a large iron ore shipment from Australia to China. The transaction was arranged jointly with NAB (National Australia Bank) and China Guangfa Bank.

NAB completes successful international money transfer using blockchain

Bank transfer in seconds – from Australia to Canada via Ripple tech

National Australia Bank (NAB) says it has successfully transferred AU$10 ($7.6) – using Ripple’s blockchain tech – from Australia to Canada. It took ten seconds to process.

End is nigh for NAB core banking revamp

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National Australia Bank (NAB) appears to be entering the final stages of its seven-year Oracle-based “NextGen” core banking overhaul. The bank originally planned to build an in-house mortgage origination platform, beginning with its digital banking subsidiary UBank. But that was scrapped – with the loss of AU$106 million ($81 million) – and Oracle FSS was […]

New NAB mobile banking app feast for control freaks

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National Australia Bank (NAB) will launch a new mobile banking app later this year – which promises to give customers more control over how, when and where they use their cards. The new app will include card transaction controls to self-manage personal Visa debit and credit cards through a mobile device. And, in an “Australian […]

NAB teams with Telstra for digital SME marketplace

Leigh O’Neill, NAB

National Australia Bank (NAB) and telco firm Telstra have partnered for an SME digital marketplace called Proquo. Proquo will offer more than two million Australian small businesses an online platform to network, trade or swap services with each other. Leigh O’Neill, NAB executive general manager micro and small business, says: “Small business is the backbone […]