UK FinTech Pollinate has partnered with National Australia Bank.
The partnership will help NAB transform its merchant acquiring offering for SMEs across Australia.
NAB will implement Pollinate’s global cloud-based platform which brings digital solutions together for small and medium sized businesses.
The relationship is set to last several years.
What does this mean?
In Australia SMEs drive over half the country’s economic output. One third of all Australian SMEs bank with NAB, so this will provide great reach for Pollinate to help and support as many businesses as possible.
Currently just over half Australian SMEs use digital invoicing so particularly with the impact of Covid-19, there is room for great progress in terms of digital transformation.
Polliante Founder and CEO Alastair Lukies CBE commented:
“Banks around the world have had a difficult decade, but they remain the only ones in the payment chain who can connect directly with both merchants and consumers. NAB is ideally placed to create a virtuous circle between the bank, its business customers and the communities they serve. We are honoured to be their partner of choice in Australia.”