NAB launches mobile app
NAB has registered a trademark for the logo "NAB Flik" with IP Australia, including an icon that appears to have been designed for a smartphone. The bank has also registered a website under the same name.
The service is tipped to be another push by a bank to win over consumers through mobile digital payments technology, which gives customers the ability to carry out a range of financial tasks on the go.
Commonwealth Bank claims to have had significant take-up with its Kaching application, which allows instant money transfers between customers.
Kaching had processed more than $9 billion in transactions since its launch, after being downloaded 1 million times, the bank said in a recent presentation.
NAB has made improvements in technology and a simplification of its retail products' priorities. This year it launched an overhaul of its IT systems and said it would allow customers to do more banking on a "self service" basis.
Frequently Asked Questions about this Article…
NAB Flik is the name National Australia Bank has trademarked for a new mobile digital payments product. The bank has registered the NAB Flik logo (including a smartphone-style icon) with IP Australia and has secured a website under the name. The service is positioned as a push into mobile payments to let customers carry out a range of financial tasks on the go.
According to the article, NAB is preparing to launch the service — it has registered the NAB Flik trademark and a website — but the article does not state that the app has been publicly launched or rolled out to customers yet.
NAB Flik is described as another push by a bank to win over consumers through mobile digital payments technology. The article places it in the same competitive context as Commonwealth Bank’s Kaching app, highlighting growing emphasis by banks on mobile conveniences and instant transactions.
The article notes Commonwealth Bank said its Kaching app was downloaded about 1 million times and had processed more than $9 billion in transactions since launch. For investors, those metrics show how adoption (downloads) and transaction volume can be useful indicators of customer uptake and engagement with mobile payment services.
NAB has recently implemented improvements in technology and simplified priorities for its retail products. The bank launched an overhaul of its IT systems this year, which it said would allow customers to do more banking on a 'self service' basis — changes that could underpin mobile payment features.
Trademark registration indicates NAB is formalising the NAB Flik brand and preparing it for public use. For investors, this is an early signal the bank is committing resources to mobile payments and brand development; for consumers, it suggests a branded product could be forthcoming, though details and timing were not provided in the article.
No. The article reports the trademark and website registrations and describes the service as a planned push into mobile digital payments, but it does not provide specifics on features, pricing, availability or an official launch date.
Based on the article’s comparison to Commonwealth Bank’s Kaching, investors may want to monitor metrics such as app downloads, user adoption rates, transaction volumes and any announcements about integration with NAB’s retail banking platform or 'self service' capabilities. These indicators have been used to measure uptake of mobile payment services in the sector.
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