Social commerce on

Monday, 3 October 2011

National Australia Bank has become the first Australian bank to adopt social commerce on its website to assist customers in the online buying process.

From today, NAB will display customer ratings and reviews of its credit card products online to provide useful feedback to potential customers to help them make better decisions about the products that are right for them.

"Our focus is on improving relationships with customers and making changes to offer Australians a better alternative when it comes to banking. Today’s announcement is further evidence of our commitment to putting our customers at the centre of everything we do,” said Chris Smith, General Manager of Digital, Direct Banking.

"Social feedback has a big and growing influence on purchase decisions, and reviews by other NAB customers will provide valuable, independent feedback for those considering a NAB credit card.

“The reviews will also help our existing customers get more out of their products and learn about features they previously didn’t know about,” Chris said.

Importantly, the feedback will give NAB great insight on what customers like about its credit cards and highlight areas for changes and improvements.

“Over the last two years we've made some significant improvements to our credit cards, including industry-leading changes to balance transfer hierarchy, reduced late payment fees and removing the over limit fee,” Chris said.

“At NAB, we’re doing things differently, and displaying ratings and reviews on our credit cards is further evidence of that.

“We’re leading the way with our Fair Value philosophy and will continue to make changes to improve our relationship with customers, by listening to their feedback and providing relevant help and advice.”

To date, NAB has received more than 360 customer ratings and reviews on seven of its credit cards.

“We’ll continue to give our customers choice in how they bank and provide them with information and advice that will make it easier for them to manage their money.”

Through Internet Banking, NAB will continue to ask all customers that have a credit card available for sale on its website, and held the card for more than six months, to provide feedback. NAB will look to roll this out in 2012 to other products.

Media Contact
Dianne Sarantakos
M: +61 (0) 416 577 937