24 February 2018
Visit www.capgemini.com/worldreports

NAB rolls out origination platform

10 February 2016  |  6481 views  |  0 NAB web logo

In what it calls the biggest technology overhaul in its 123 year history, National Australia Bank (NAB) will this month begin rolling out a new origination platform for personal banking customers.

Built with tech giant Oracle, the Personal Banking Origination Platform, aims to cut paperwork and simplify the processing of things like transaction account, loan, credit card and insurance applications.

Following a pilot begun last summer, the system will be rolled out nationally over the course of the year, beginning this month.

Steve Collier, executive general manager, NAB, says that the platform has brought down the credit card application process to just seven minutes, while the number of clicks staffers need to make for a loan application has fallen from 250 to 50.

"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," says Collier.

The origination platform is just part of a huge 'NextGen' IT transformation project at NAB, which has been running for several years - not always smoothly. In 2014, the bank was forced to write off $106 million related to a mortgage origination platform developed for its UBank subsidiary.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Australian bank boycott of Apple Pay continues as NAB rolls out Android rival

Australian bank boycott of Apple Pay continues as NAB rolls out Android rival

25 January 2016  |  10558 views  |  3 comments | 13 tweets | 15 linkedin
NAB challenges developers to work on its API

NAB challenges developers to work on its API

04 November 2015  |  5994 views  |  0 comments | 5 tweets | 9 linkedin
NAB unveils digital advice platform

NAB unveils digital advice platform

11 September 2015  |  7807 views  |  0 comments | 7 tweets | 6 linkedin
NAB consolidates customer data on new CRM system

NAB consolidates customer data on new CRM system

06 November 2014  |  6883 views  |  0 comments | 2 tweets
NAB writes off $297m in under-performing software

NAB writes off $297m in under-performing software

09 October 2014  |  6047 views  |  0 comments | 4 tweets | 8 linkedin
NAB moves Web site to Amazon Cloud

NAB moves Web site to Amazon Cloud

02 October 2013  |  6897 views  |  0 comments | 9 tweets | 5 linkedin
NAB installs new IT overhaul boss in search of A$800m savings

NAB installs new IT overhaul boss in search of A$800m savings

13 March 2013  |  7127 views  |  0 comments | 5 tweets | 2 linkedin
UBank acts as test-bed for new NAB core platform

UBank acts as test-bed for new NAB core platform

28 August 2012  |  8628 views  |  0 comments
NAB selects Oracle to manage IT overhaul

NAB selects Oracle to manage IT overhaul

06 August 2008  |  10948 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Register for the webinarVisit https://www.capgemini.comVisit http://info.nice.com

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
12142 views comments | 16 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10465 views 4 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
8865 views comments | 15 tweets | 26 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
8319 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
7938 views comments | 10 tweets | 14 linkedin

Featured job

Competitive base + commission
London, UK

Find your next job