Major bank moves to support SMEs

One of Australia’s big four banks has unveiled a partnership with a start-up to develop an integrated cloud-based platform specifically for its small business customers.

One of Australia’s big four banks has unveiled a partnership with a start-up to develop an integrated cloud-based platform specifically for its small business customers.

In a speech yesterday to the Committee for Economic Development in Australia (CEDA), NAB CEO Andrew Thorburn unveiled the launch of two new innovations through the bank's digital innovation hub NAB Labs.

These innovations include a cloud-based digital platform named NAB Business in One, which was developed with Australian technology start-up Maestrano.

Business in One synchronises data in real time across numerous applications – including accounting, sales and customer relationship management software – into a central, customisable dashboard. 

“Business in One will give small business owners the data and information they need to help them run their small business in one place. Our customers have been asking us to make it easier for them and that’s exactly what Business in One does,” Mr Thorburn said.

NAB Business in One works by integrating a range of third-party business apps.

Data entered into any of the apps automatically updates in all other apps included on the user’s platform.

Business in One will be free to NAB customers. A targeted launch will involve 200 of the bank’s business customers.

Mr Thorburn also unveiled NAB Dash, a streamlined pay-and-collect technology for making purchases.

“NAB Labs works with existing technology partners and with new start-ups to drive change at pace and try new things,” he said. 

“We are disrupting our business from within, tapping into ideas and talent from both inside and outside the organisation for the benefit of our customers.”

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