National Australia Bank (NAB) has launched real-time payment prompts on its app and internet banking platforms to help customers avoid scams and incorrect payments.
The personalised prompts, which are generated by NAB’s fraud engine, calculate a risk score based on a payee’s past behaviour and alert customers if a transaction appears out of the ordinary.
NAB’s move follows similar measures by Commonwealth Bank of Australia and Westpac. NAB’s chief digital officer, Sujeet Rana, said the prompts differ from previous messaging to customers about potential scams because they are personalised, individualised and in real time.
The new function will roll out to a small number of customers initially, before being made available to a wider audience.