National Australia Bank has said it will launch a digital advice platform to its internet banking customers, making it the first major bank to provide personalised, tailored financial advice through internet banking.
NAB Prosper will initially be rolled out to 40,000 customers and has been designed to empower the 80 percent of Australians who do not have an active relationship with a financial adviser.
General Manager Digital and Direct Services Anne Bennett said: “Digital will be a significant part of the future and we must ensure that, as a business, we continue to lead this evolution. Both within the bank and among our advisers our attitude is to embrace digital- it’s where our customers are and what our customers want. “NAB has a strong belief in the power of digital delivery, which is why we are investing heavily across the business to enhance our online features and services for customers.”
Over the past two years, NAB has seen double the number of customers link their wealth and banking products into their digital banking view.
“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. NAB Prosper is exciting news for our customers, our advisers and our business.”
NAB Prosper will be accessible through a customers’ internet banking account. It will ask customers specific questions relating to their current financial situation and future goals and provide them with a tailored, personalised assessment – with the option to seek further advice if they feel it is necessary.
NAB Prosper will initially provide personalised advice on super and insurance, with plans to expand into debt, cash flow, investments and estate planning in future releases.
Executive General Manager Wealth Advice Greg Miller said: “We’re focused on strengthening our business, committed to meeting the customer’s expectations and improving their experience with us, and supporting advisers in providing greater value to their customers.
“It’s about delivering a great customer experience that makes it easier for customers to connect with us in a variety of channels, where all products, services and processes focus on the customer, addressing their changing needs and attitudes.”