“A competitive and innovative financial services industry is critical to ensuring great customer outcomes, and the growth of the economy more broadly. NAB recognises the value in ingesting data as a key enabler to deliver faster, easier and more personalised products and services to our customers.

“We know it will take time for customers to develop familiarity, trust and understanding in using Open Banking; we have been developing several customer use cases for Open Banking and we’re employing a test and learn approach to refine propositions that best meet our customer’s needs.

“We’re actively partnering to innovate faster; with international non-competing banks, with big tech and fintechs and looking beyond our domestic peers as the competitive benchmark.” - Howard Silby, Chief Innovation Officer, NAB.