NAB is relaunching an automated unsecured lending platform aimed at small business, giving it a new look and higher limit, and making it directly accessible via internet banking.
The relaunched QuickBiz will arrive "in coming weeks" and "will enable a straight-through digital customer experience from within NAB’s internet banking site," the bank said.
The service first launched in 2016 and uses machine learning as part of its automated decisioning.
"QuickBiz will soon feel very different and faster for customers," NAB's business and private bank group executive Andrew Irvine said in a statement.
"The application provides a personalised experience, is pre-populated based on information NAB already has on file and is finalised with an electronic signature."
He said it would also make cash available "within 20 minutes of submitting an application", which he said "will be transformative to so many small businesses.”
NAB intends to add additional features to QuickBiz over the next year, including more product choices and broader lending solutions.