NAB partners with MRI to integrate Portal Pay with Property Tree

NAB partners with MRI to integrate Portal Pay with Property Tree, used by more than 29,000 property management professionals to manage rental payment collection.

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.

NAB’s Portal Pay will automatically send transaction data from rental payments directly to MRI’s Property Tree for mutual customers. 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.

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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