NAB announces Money Tracker

The National Australia Bank announced a money management tool as the latest part of the bank’s technology overhaul.

The Money Tracker tool integrates with NAB’s Internet banking service to analyse a customer’s transaction history and map spending behaviour. The tool can also suggest budget targets based on previous spending and make forecasts for the future.

“Being fully integrated with our Internet banking delivers exciting new capabilities and an enhanced experience for our customers,” NAB's executive general manager of direct banking, Sam Plowman, said in a statement.

The launch of Money Tracker follows the recent launch of NAB Trade and arrives as NAB undergoes a “total environment transformation” in IT.

The announcement also follows Commonwealth Bank’s launch last week of MyWealth, a website showing customers’ bank accounts and investments in one place.

St George Bank released a similar tool in December last year called MoneyMeter. It lets users frequently check their bank balances on their iPhones and track their spending without having to log onto its mobile banking service each time.

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