Select a page

Banking News

NAB to replace tellers with smart ATMs, smartphones

NAB to replace tellers with smart ATMs, smartphones

(19 February 2013 – Australia) Online banking is the foundation of National Australia Bank (NAB)’s branch network overhaul. The bank is revamping its bricks-and-mortar branches as more customers do their transactional banking online. The move will allow the bank to focus on high margin businesses such as wealth management and cut operating costs.

The bank will gradually replace tellers with ''smart'' ATMs and phase out old features such as security screens. New branches will have an open-plan layout and encourage customers to talk to NAB about more complex financial products.

''A lot of over-the-counter transactions are high in volume and they actually take high costs to serve as well,'' NAB's executive general manager retail, Vicki Carter told reporters.

''In the future, many of those transactions will be done at different places [smart ATMs and the internet].''

The high penetration of smartphones in Australia is underpinning a rapid growth in mobile banking. NAB estimates 42 percent of all internet banking log-ins are now done through mobile devices and that is increasing by 1-2 percent each month.
East & Partners's avatar

Comment on this article

 

Your comments will not be published. Required fields are marked *

 

Please enter the word you see in the image below:


Subscribe

Subscribe to our mailing list

Sign up now to keep up-to-date with the latest
market news and insights in B2B banking.

* indicates required

For more information please read our Terms and Conditions and Privacy Statements.