NAB launches super clearing house
National Australia Bank has moved into the increasingly competitive superannuation clearing house market, announcing this week that it had launched NAB Super Pay.
The big banking group said the new service was designed to simplify superannuation payments for employers and ensure they are compliant with new government regulations and would be accessible to fund, employer and self managed superannuation fund (SMSF) customers.
Commenting on the launch of the new product, NAB Wholesale Wealth general manager, Nathan Gooley said NAB Super Pay represented a key pillar in the banking group’s investment in developing simpler products for Australian businesses to navigate superannuation regulation and reform.
“We understand the complexity and diversity of our super fund clients, so we’ve developed a seamless approach to connecting you with the right resources,” he said. “The platform recognises that no customer is the same, so employers can submit superannuation contributions using file extracts from their own payroll system.”
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
