NAB Now Pay Later

Research indicates that 90% of customers are highly likely to use an installment service offered by their bank, our team devised an approach to create an experience that met the expectations of these customers as well as introducing safety and security. Our goal was to create an experience where in the time it takes for a customer to go from the fitting room to the register, we’ve assessed their application, undertaken a credit check and opened an account with a virtual card so they’re ready to purchase. All while integrating into their existing NAB app.

Our solution is a NAB first, digital only product. While it’s quick and easy for customers to access via their mobile an assessment on credit and eligibility is still done. Built with a range of new technologies including instant credit decisions and safety and security features. We are pleased to say we have not compromised on the experience or business requirements. We’re giving our customers more flexibility, choice and control to manage all of their everyday banking needs in the one place.

With thousands of registered customers, we are seeing great engagement. On average it takes customers 90s to apply & complete a credit check. People log in regularly to manage their payments and feel safe in knowing they have access to credit but don’t have to worry about hidden fees or paying interest. We track advocacy through high NPS scores, and we are seeing 45% of users engaging with other money management tools to improve their spending behaviours. This solution is very different product to what a bank would traditionally offer, however we are seeing tremendous impact in its release.