NAB adjusts branch model; over 90% of interactions now take place online or by phone

By Edil Corneille

NAB, the Australian bank based in Melbourne has announced that it is adapting the way it conducts banking in small regional branches with a new model that will see hundreds of jobs maintained and a more consistent banking experience for customers. National Australia Bank will adjust opening hours across 114 smaller regional branches with bankers splitting their time between over the counter service and digital or phone banking support, as more customers move online.

NAB Group Executive Personal Banking Rachel Slade said these branches would be open from 9.30 am to 12.30 pm for customers. Past these hours, bankers would support customers by phone and online chat as well as application processing.

“It is clear the face of banking is changing, especially in the way customers want to interact with us,” Slade apprised.

“Our branches continue to be a really important part of many local communities, especially for local businesses. On average a quarter of transactions take place between 9.30am and 10.30am in our regional branches. Through this new model we can continue to be there to serve our customers and have meaningful conversations while also adapting to the way our customers are now banking.

“Our colleagues will learn new skills to support customers in new ways, including on the phone and online chat, which presents the opportunity for our bankers to work remotely at times when more of our customers want to do their banking. We have shown this is possible through Covid-19 restrictions with more than 450 bankers trained in new skills to support customers in different ways.

“The chance for more of our bankers to work from anywhere is something I am very excited about.

“We think this move will strike that balance, keeping the doors open at 114 branches around the country, providing the opportunity for around 300 bankers to learn skills while we continue to serve our customers well.”

The new operational hours will come into effect from August 17, 2020.

Over 90 percent of NAB’s customer interactions are now taking place online or by phone, and more than half of the bank’s customers log onto NAB banking via the app or online each month. Over-the-counter transactions are declining steadily and have reduced by a quarter in the past year. NAB will provide its bankers at these branches with the training and tools required to support customers across phone and online chat and support them through the changes.

“We are there for our regional customers and communities – and we will continue to invest in our colleagues to give them the skills they need to do their jobs into the future,” Slade enunciated.