Australian lender NAB has launched a new tool to enable customers to apply for conditional approval for a new home loan online 24/7, and receive an instant response.
Dubbed NAB goAHEAD, the new platform takes on average, around 15 minutes to complete, with some customer information pre-populated into the form, saving customers time and effort, the lender said.
NAB general manager of home lending Meg Bonighton said: “Until now, Australians have only been able to receive a rough guide on what they can borrow via online forms. What we’re giving customers through NAB goAHEAD is true conditional approval – just like they would receive if they spoke directly with a NAB banker.
“With NAB goAHEAD, customers can complete the application, receive conditional approval, and make an offer on a property the very same day with confidence that they’re backed by NAB.”
The new platform is developed by NAB’s innovation hub, NAB Labs. It is enabled through NAB Internet Banking and NAB’s Personal Banking Origination Platform.
NAB’s Personal Banking Origination Platform allows customers to upload, receive, and accept loan documents online, and receive Internet Banking and SMS updates on their application progress.
“This is a significant step forward in our move to fully digitise the home lending experience so that customers can more conveniently, simply and easily make their home ownership dreams a reality,” Bonighton added.