NAB says the solution - developed in partnership with Australian fintech provider Slyp - makes keeping invoice records easier for customers by enabling them to scan and store receipts.
NAB Executive General Manager Small Business, Leigh O’Neill said the Slyp feature would save “valuable time for people running small businesses who are constantly on the move”.
“Our small business customers continually ask us for ways we can help them save time on administrative requirements, to allow them to spend more time with their own customers,” O’Neill said.
“The integration with Slyp is another example of how we’re investing in digital tools to help our small business customers, building on initiatives like our QuickBiz Loan offering, our partnership with Xero to make payments easier and improvements we’ve made to Internet Banking and NAB Connect.”
NAB said on Tuesday the in-app ‘receipts’ function represents the first phase of Slyp’s capabilities to be rolled out into the NAB Mobile App, with the next phase being deployed in coming months, allowing participating retailers to send customers automated digital receipts via the NAB Mobile App – eliminating the need to scan.
NAB says it will be the first Australian bank to deploy the smart receipt technology with Slyp.
“We’re excited about what’s in store for our customers as we continue working with Slyp to improve the capabilities of this feature with the potential to deliver things like warranty reminders, streamlined loyalty and targeted offers, in addition to providing the productivity and convenience benefits,” O’Neill said.
According to NAB, since launching in early September, the new feature has already had more than 15,000 receipts digitised by customers.
Small business owner and manager of Master Dry Cleaners, Luke Hudson said “I’m impressed with level of detail and intuitive reading of all the line items within the receipt scan. The ability to add notes is also a real plus and will save me time in the long run, when I need to pass on information to my accountant.”