​NAB launches personalised advice platform

National Australia Bank (NAB) has launched NAB Prosper to offer its customers personalised financial advice through its online internet banking platform.

The bank said NAB Prosper will ask customers specific questions relating to their current financial situation and future goals before providing them with a tailored assessment, with the option to seek further advice if they need it.

It will initially provide advice on super and insurance, with plans to expand into debt, cash flow, investments, and estate planning in future releases.

NAB executive general manager wealth advice Greg Miller said the bank believes that it is necessary to adapt its offering to meeting the individual needs of its consumers.

"We're continuing to look at ways to evolve our business to meet these changing needs. This evolution will continue to include advisers for those life-stage events where a customer wants to sit down and have a face-to-face discussion with their adviser," he said.

Earlier this year, the company reported that it incurred higher technology costs of AU$4.5 billion during the first half of the 2015 financial year. The technology investments that NAB made included completing the rollout of NAB View for its business banking segments. NAB View provides its bankers in NAB business, agriculture, health, and private wealth with a full view of approximately 135 million customer records.

In January, the company also launched NAB Now for small business customers to enable them to make a sale anytime, anywhere, while accepting card payments from smartphones and tablets.