📰 One small step for Portal Pay, one giant leap for property managers
Property managers will enjoy big time saving benefits and simpler and easier reconciliation of rental payments as part of a new integration between NAB’s Portal Pay and MRI’s Property Tree platform.
Starting today, NAB’s Portal Pay will automatically send transaction data from rental payments directly to MRI’s Property Tree for mutual customers, the main platform used by more than 29,000 property management professionals to manage rental property portfolios.
The move will save property managers at least half an hour each day, simplify and secure the reconciliation process and allow payments captured in Property Tree to be directly processed daily.
NAB Business Transaction Banking Executive Paul Riley said the integration was the next step forward for Portal Pay, launched last year to streamline and simplify rental payment collection and property sale deposits.
“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.
“This evolution to Portal Pay is a gamechanger for property agents, renters and landlords by saving them time and giving them greater flexibility, security and simplicity,” Mr Riley said.
Leveraging NAB’s market leading secure business platform NAB Connect, NAB Portal Pay features rental and real time sale deposit payments, industry-grade security and allows for further integration with other major real estate platforms in the future.
Ray White real estate director Nazih Abbouchi has been using NAB Portal Pay which has enhanced his team’s ability to streamline the payment process for customers.
“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,” Mr Abbouchi said.
“What really struck me was the simplicity and ease of using the system.
“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,” Mr Abbouchi said.
Less than a year after it was launched, NAB Portal Pay has been recognised as the Best SME Payments Innovation at the recent Global SME Banking Innovation Awards.
“NAB Portal Pay streamlines property transactions which makes it easier for agents and buyers to make deposit payments instantly and securely, control the timing and frequency of rental payments and saves everyone time and effort,” Mr Riley said.
“Portal Pay doesn’t impose any holds or delays which means payments are settled then and there. Gone are the days of racing to a branch to get a bank cheque or waiting up to a week for a settlement payment to clear.
“NAB is the first major bank in Australia to launch a product like Portal Pay that offers real time property sale deposit collection processing, tracking and reconciliation of rent payments and is part of NAB’s strategy of using innovations to make everyday banking simpler for businesses,” Mr Riley said.
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