NAB faced a series of questions about corporate culture, financial crime compliance and climate change during its annual general meeting on Friday. CharlotteGriev1 NAB homeloans AGM
National Australia Bank chief executive Ross McEwan has said the lender is aiming to approve mortgage applications for home loans in as little as one hour, as it looks to speed up processing times to capture a bigger slice of profits from the soaring property market.
As the banking industry faces competition from fintechs and buy-now-pay-later players, the majors have scaled up investment in technology and automation toon Australia’s booming property market fuelled by cheap debt and high savings during lockdowns. “Our priority is to better use data to make lending decisions faster and improve our customer experiences, in an increasingly digital and automated world. We want to make unconditional home loan approvals within an hour the standard for NAB customers.”During the meeting, shareholders asked multiple questions about NAB’s corporate culture and wage underpayments after aby the Finance Sector Union revealed serious mental health impacts among middle management.
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