NAB overhauls banking website

The National Australia Bank (NAB) is set to launch a new Internet banking service in November.

The original service, established in 1998, excluded Apple Macintosh computer users and required the use of a digital certificate. The Australian Financial Review reports NAB's new service is currently being trialled amongst 5,000 staff and customers.

The NAB is lagging behind other Australian banks in bringing customers online using its Internet banking service.

It is hoped that the new software will increase Internet banking service users from 474,000 to 750,000 in one year

Project director Mr Mike Durrant defended the bank's original choice of software applications for its internet banking system, saying at the time the bank believed it would be the industry standard.

“I think we made the right choice in the environment we had at the time but the environment has changed and we are reacting to that change,” Mr Durrant said.

NAB internet banking customers will undoubtedly be cheered with this news as its existing website compared poorly in terms of convenience to that of the other majors.

Mr Durrant admission that the upgraded service is worth “tens of millions of dollars” comes as no surprise. It shows how carefully banks must weigh up its options when applying technology to deliver services.

NAB plans to review the new internet banking service in March next year after receiving feedback from customers once it goes live.

The downside of Internet banking.