In a statement, the bank said the new platform, NAB Prosper, will be rolled out to 40,000 customers in October and be accessible through their online banking accounts.

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 necessary, the statement said.

The new platform will make NAB the first major bank to provide personalised, tailored financial advice through internet banking, the bank said.

“There’s a real enthusiasm running through our business and NAB Prosper is just one example of how we are continually looking to provide innovative, market-leading products that align our banking with wealth customers,” said NAB executive general manager for wealth advice Greg Miller.

He added: “The shape of the advice industry is changing and it will be largely driven by customers whose needs are evolving. Different consumers want to access financial advice in different ways, and we need to adapt our offering so consumers can choose when, where and how they deal with us.”

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, the bank said.

“Allowing people to see their current financial situation has the ability to trigger a conversation with an adviser. With only one in five Australians currently seeking financial advice, this can only be a good thing for customers and the industry more broadly,” Mr Miller said.

“Advisers benefit from this by being able to capitalise on changing customer segments and deliver targeted, relevant advice, simply and efficiently. It supports growth, strengthens capabilities and will improve efficiencies across our network.”

Comments powered by CComment