NAB to launch digital advice platform

NAB Prosper to be rolled out to 40,000 customers initially

NAB will integrate a digital advice platform into its Internet banking service, the bank announced today.

The 'NAB Prosper' service will be able to offer advice to customers based their answers to questions about their financial situation and goals.

Initially the service will provide tailored advice on superannuation and insurance. The bank plans to add support debt, cash flow, estate planning and investment in future releases of NAB Prosper.

NAB customers will be given the option of seeking further advice from a financial planner.

"Digital will be a significant part of the future and we must ensure that, as a business, we continue to lead this evolution," said NAB general manager, digital and direct services, Anne Bennett.

"Both within the bank and among our advisers our attitude is to embrace digital- it’s where our customers are and what our customers want. NAB has a strong belief in the power of digital delivery, which is why we are investing heavily across the business to enhance our online features and services for customers."

Initially the service will be available to 40,000 customers.

ANZ has used IBM's Watson 'cognitive computing' platform to augment the ability of financial advisers to support customers.

AMP has reportedly also explored the potential of software to delivered tailored financial assessments to customers.

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