NAB's planned digital app to get with the program
This month 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.
A spokesman for the bank would not comment on the initiative when contacted by BusinessDay. But 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 growing range of financial tasks on the go.
NAB's rival, 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 Commonwealth said in a recent presentation.
NAB has made improvements in technology and a simplification of its retail products key 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.
Mobile banking is growing rapidly, with the number of mobile banking customers in Australia surging to 6 million this year.
Australians have been among the most enthusiastic "early adopters" of smartphones in the world, and bankers expect customer use of smartphone and tablet applications to overtake traditional websites over the coming years.
The rapid growth in mobile banking is having significant implications for bank investment in ATMs and branches. There is tipped to be less need for ATMs and banks are already cutting back on branch sizes in response to people carrying out simple transactions digitally.
Frequently Asked Questions about this Article…
NAB Flik is the name National Australia Bank has registered as a trademark, including a smartphone-style icon and a website under that name. The registrations suggest NAB is preparing a new push into digital payments, although the bank has not publicly commented on the initiative.
No — according to the article, a NAB spokesman would not comment when contacted. The bank has registered the NAB Flik trademark and website, which indicates plans, but there has been no formal public launch or detailed announcement reported in the piece.
The article positions NAB Flik as a competitive move into mobile digital payments similar to Commonwealth Bank’s Kaching. Commonwealth Bank has reported strong take-up for Kaching, which allows instant transfers and, according to a presentation, processed more than $9 billion in transactions after being downloaded about 1 million times.
The article says NAB has prioritised technology improvements and simplification of retail products, launching an overhaul of its IT systems this year. That work is intended to let customers do more banking on a 'self service' basis — a shift that investors might view as part of NAB’s effort to improve digital capability and customer experience.
Mobile banking is growing rapidly: the article reports the number of mobile banking customers in Australia has surged to 6 million this year. It also notes Australians have been enthusiastic early adopters of smartphones, and banks expect smartphone and tablet apps to overtake traditional websites in coming years.
The article explains the rapid growth in mobile banking is changing banks’ investment decisions for physical infrastructure. There is expected to be less need for ATMs, and banks are already cutting back on branch sizes as customers complete simple transactions digitally.
Mobile payment apps can drive customer engagement and transaction volumes, as the article illustrates with Kaching’s reported downloads and transaction value. For investors, these initiatives signal how banks compete for customers, shift cost structures (fewer ATM/branch needs), and prioritise digital services — all factors that can influence future performance.
Yes. The article cites Commonwealth Bank’s claim that its Kaching app had been downloaded around 1 million times and had processed more than $9 billion in transactions since launch, demonstrating substantial user activity in mobile payments.
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