The upgrades include a new-look design, open plan layout with meeting spaces and installing digital services for customers
Branch in Melbourne CBD. (Credit: National Australia Bank Limited.)
National Australia Bank (NAB) is investing more than A$160m ($119m) to transform its branch network around the country to meet the requirements of its customers with their banking.
The upgrades include a new-look design and open plan layout, with meeting spaces for customers to have important conversations.
Also, the programme includes installing digital services, such as self-service digital bars and self-service machines that are available 24 hours a day.
NAB has already completed the upgradation programme in 26 locations this year and aims to expand it to more than 50 locations by the year-end with an A$100m ($74m) investment.
Last year, the bank has invested A$60m ($44.5m) in its branch network, regardless of Covid-restrictions obstructing the refurbishment works.
NAB group personal banking executive Rachel Slade said: “While more Australians are choosing to do their banking digitally, branches continue to be an important part of the way NAB serves its customers well.
“When our customers choose to visit us in a branch, it’s to have an in-depth conversation about how we can help them achieve their goals.
“That’s why we are making significant investments in our branch network, redesigning these important locations for the customer experience to be less transactional and more conversational.”
As part of the refurbishment programme, NAB will open four new format branches, in Barangaroo, New South Wales; Clyde, Victoria; Bourke Street, Victoria; and Collins Street, Victoria this year.
The opening of small-format branches follows the fruitful initial trial of a smaller format branch at Casey Central Shopping Centre in Victoria, late last year.
NAB said that it operates more than 600 branches and business banking centres around Australia to support its customers with banking needs.
Furthermore, the bank has partnered with Australia Post to enable its customers to do fee-free transactional banking at more than 3,500 Australia Post outlets across the nation.
Slade added: “This is a huge undertaking and we are thankful to the many local businesses around Australia that are helping us transform our branch network.
“We will be drawing on the skills of a wide range of specialists including plumbers, electricians, air conditioning technicians as well as businesses to manufacture and install our distinctive red star signage.”
“Our digital savvy customers no longer need to visit a branch to withdraw cash, deposit a cheque or to pay a bill. They complete these transactions on the go, at a time and location that suits them.”