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The major bank’s collaboration with MRI Property Tree will make it easier for property managers to reconcile rental payments automatically.
The collaboration will see NAB’s Portal Pay payment service integrated with MRI’s Property Tree software to deliver a quicker and more streamlined rental payment process.
NAB’s Portal Pay service was launched last year to provide a more secure and efficient way to transfer, track and reconcile rental transfers and sales deposits.
Through the new partnership, the Portal Play platform will now automatically send transaction data from rental payments directly to MRI’s Property Tree for mutual customers.
According to NAB, the integration will save property managers “at least half an hour each day” while simplifying the reconciliation process and enabling payments in Property Tree to be directly and securely processed daily.
NAB business transaction banking executive, Paul Riley, said that the integration with MRI’s Property Tree marked the next step forward for the Portal Pay platform.
“Property managers are busy and every single minute they don’t need to spend manually sorting through rental payments is time they can spend looking after their customers and their business,” he said.
Riley emphasised that the efficiencies from the newly integrated Portal Pay platform would benefit agents, renters and landlords.
“This evolution to Portal Pay is a game changer for property agents, renters and landlords by saving them time and giving them greater flexibility, security and simplicity,” Riley said.
Ray White real estate director, Nazih Abbouchi, said that using the Portal Pay platform has enhanced his team’s ability to streamline customer payment processes.
“NAB Portal Pay has given our customers a quick and easy-to-use payment system so their funds can transfer almost instantly, making the payment process simple,” Abbouchi said.
The director said the simplicity and ease of the system has enabled his team to free up time that they can instead spend on more important tasks.
“At the end of the day, our time is money, and NAB Portal Pay has provided us with a simple solution to give my team and our customers time back in their day,” Abbouchi concluded.
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