Best Innovative Banking Feature
Chances are at some stage you have spotted a transaction on your account but have no idea who and what the company actually is.
NAB says it receives a significant volume of calls related to transaction queries with customers often feeling confused and anxious when they make a purchase in store with a merchant they know and trust but see an unfamiliar business name in their transaction history.
A quick Google search could also solve the mystery but
NAB’s “Look Who’s Charging”
feature on its mobile banking app makes identifying the source even easier.
You simply need to tap on the transaction on the app and you are able to easily view details such as the trading name, address and map, phone number and website as well as opening hours and a general category for the merchant.
It uses data from Look Who’s Charging, an Australian fintech start-up specialising in merchant data. It can match 95% of transactions to over 1.2 million merchants and this number increases every day, explained NAB’s submission.
The winner was judged based on its submission. Invitations to submit entries were given to all institutions on the Canstar database. Only products that were launched in the past 12 months were eligible. Entries for submissions closed on October 20, 2017. They were judged on innovation, scope and, where applicable, price.