The delivery of National Australia Bank’s Personal Banking Origination Platform is the biggest technology overhaul in the bank’s history and is transforming the customer experience.
The national rollout of NAB’s new personal banking platform will commence this month following the successful pilot of the platform in contact centres and branches in the Northern Territory and South Australia.
Exacutive General Manager Core Banking Steve Collier said NAB was enormously proud of this achievement that has positioned NAB amongst global leaders in technology transformation.
“The delivery of the new platform is simplifying processes for our bankers and has significantly reduced the processing time of personal loans and credit card applications for our customers,” Mr Collier said.
“NAB’s Personal Banking Origination Platform has reduced credit card application times to just seven minutes.
“For our bankers, we’ve streamlined processes by reducing the number of clicks to complete a loan application from 250 down to 50, which significantly reduces errors and improves turnaround times.
“As well as quicker turnaround times, we’re delivering a more transparent customer experience that keeps our customers updated throughout the progress of their loan or application via Internet Banking and SMS.”
Since the pilot commenced in August 2015, more than 9,000 transaction accounts, 4,000 credit cards and personal loans, and 700 home loans have been successfully opened.
NAB recently welcomed their international technology partner Oracle and CEO Mark Hurd to its Melbourne headquarters to celebrate the delivery NAB’s Personal Banking Origination Platform.
Mr Collier highlighted Oracle and NAB’s solid record of delivering major milestones which includes NABView, a new Credit Risk Engine, and now the Personal Banking Origination Platform.
“The partnership we have with Oracle is a model relationship of how a large organisation such as NAB can work with technology partners to achieve major milestones and improve the customer experience,” Mr Collier said.
“We value Oracle’s insight that has built a platform that has transformed the way we do business.
“This is another example of how NAB is future proofing our business to ensure we have the right infrastructure in place to deliver a faster and simpler customer experience,” Mr Collier said.
The national rollout of the Personal Banking Origination Platform is expected to be complete by the end of 2016.