National Australia Bank (NAB) has introduced NAB Portal Pay, a new platform designed to simplify property payments for real estate agents, renters, and buyers. The platform integrates with major real estate software to facilitate easier, faster, and more secure transfers and reconciliations of rent and sale deposits.
Revolutionizing real estate: Mortgage transformation, new business models and home ownership ecosystems
Easier payments for renters and buyers
NAB Portal Pay allows renters to automate their payments and property buyers to quickly make deposits on auction day, eliminating the traditional reliance on cheques. Luke Johnston, Director of Johnston Donoghue Property, praised the platform for simplifying the deposit process, noting its user-friendliness and security. "It’s safe and easy to use, which is reassuring for us and our customers," Johnston said.
Streamlining property transactions
NAB’s Executive for Business Metro and Specialised, Julie Rynski, emphasized that the platform addresses long-standing inefficiencies in the real estate payment process. "With NAB Portal Pay, real estate agents can receive sales deposits within minutes, creating a more seamless customer experience," she said. This innovative solution reduces the administrative burden and ensures secure, real-time transactions.
Part of NAB’s digital-first strategy
Portal Pay represents a significant milestone in NAB’s digital strategy, offering a more integrated and personalized experience for business customers. NAB Chief Digital Officer Sujeet Rana highlighted the bank’s focus on improving digital banking. "We’re continually working towards offering simple, secure digital tools across our entire banking network," Rana said.
By launching Portal Pay, NAB is making property payments faster, more secure, and easier for all parties involved, marking a new chapter in the digital transformation of the Australian property market.
