UBank reveals first social media banking application at Finovate

13 May 2010

UBank, NAB’s dedicated direct banking business, has unveiled Australia’s first banking platform for social media, UBank Anywhere, at the global Finovate conference in San Francisco.

UBank Anywhere, which will be available to UBank customers later this year, will be accessible on sites such as Facebook and iGoogle, as well as on smart phones.

Customers using UBank Anywhere will be able to check their account details conveniently and securely at their chosen online ‘home’, without the need to visit ubank.com.au.

Sam Plowman, Executive General Manager, Direct Banking for NAB Personal Banking, says ‘social media’ sites are increasingly becoming the hub of online activity.

“UBank is offering customers more convenient and accessible ways to stay in touch with their money, as they spend more time online and use the internet to carry out day-to-day transactions.

“UBank Anywhere will soon make account information quickly, easily and securely available for customers, on their preferred online destinations,” he said.

Consistent with UBank’s industry-leading security features, customers wishing to use UBank Anywhere will be required to verify their identity during the setup process at ubank.com.au, by entering a unique code sent to them in a text message.

UBank Anywhere functionality will be limited to displaying account balances, as 80 per cent of the customers who log-in to ubank.com.au every day simply check their account balance.

Customers wishing to access more detailed account information or to perform a transaction will be automatically redirected to the full online banking services available at ubank.com.au, with one click.

According to Mr Plowman, UBank is piloting innovative banking solutions with outstanding success.

“UBank is able to offer customers a sophisticated online financial product, with fee-free accounts and competitive rate assurances.

“After only 18 months in the market, UBank is already being recognised as one of the most innovative and customer-focused direct banks in Australia,” he said.

UBank is the only Australian bank to have been invited to present at Finovate in the history of the prestigious, international conference.

UBank is also being recognised for innovation in Australia, being awarded a CANSTAR CANNEX Innovation Excellence Award for the USaver account in April 2010.

Visit ubank.com.au for more information or to apply for an account online. UBank’s Australian based Direct Banking Centre operates 24/7 on 13 30 80 or via Skype (account: ubank.com.au).

Media contacts:

Megan English
FD Third Person
02 8298 6100 or 0414 762 430
megan.english@fdthirdperson.com.au

Melissa Clare
NAB Corporate Affairs
0412 866 361
melissa.clare@nab.com.au

*Source: www.canstarcannex.com.au, 6 April 2010

UBank is a division of National Australia Bank Limited ABN 12 004 044 937 which is the issuer of UBank products and services. UBank was launched in October 2008 and is developed and backed by the financial strength and global capabilities of NAB. Although a part of NAB, the ideas, people, philosophy and brand are uniquely UBank. UBank aims to simplify banking – being entirely online or over the phone means there are no fees and no queues. UBank currently offers the USaver high interest online savings account and a range of Term Deposits (which can be used by Self Managed Super Funds), with new products under development. You should consider the terms and conditions for USaver, available from ubank.com.au, before making any decisions regarding this product.