Great Southern Bank, which received Canstar’s award for Customer Owned Bank of the Year in 2022 has launched a digitally-led banking platform for small businesses, supported by Indue’s New Payments Platform (NPP/PayTo) capability.
Using proprietary technology developed by Indue’s partner Constantinople, the new platform will seamlessly integrate with small to medium-sized enterprise (SME) business management tools and payments providers.
Great Southern Bank CEO and Managing Director Paul Lewis said the company has seen smart technology drive significant advances in personal banking and believes the timing is right to now facilitate the same for small businesses, particularly those with one to four employees.
“Nano and micro businesses – the historically under-served backbone of our economy – are precisely the group that Great Southern Bank were founded to help,” Mr Lewis said.
“Our new platform will give these customers access to a suite of simple, intuitive, and integrated banking tools with no monthly account fees.
“The range of dedicated business products available will include transaction and savings accounts, credit cards, overdraft facilities, home loans for self-employed borrowers, and loans for business growth and to purchase vehicles.”
Indue CEO Derek Weatherley said the organisation is pleased to support Great Southern Bank’s digital transformation through customer-driven and digital-first solutions.
“This is a strongly aligned partnership focussed on working cleverly for the customer, understanding their needs, realising their pain points, and acknowledging their value,” Mr Weatherley said.
“It is wonderful to confirm our NPP capability will enable customers of the platform to take advantage of flexible and fast payments with other financial institutions in near real-time.
“Indue is committed to powering the purpose of our customers, and Great Southern Bank’s new platform is about passing that power on to SME’s.”
Important Information: This article has been prepared by Indue Limited (ABN 97 087 822 464) (Company) and was originally published on 09 May 2024 on www.indue.com.au. Information is current as at the publication date, and the Company has no obligation to update or correct this article. The information contained in this article is of a general nature and is not intended to address the objectives or needs of any particular individual entity and should not be regarded in any manner as advice. To the extent permitted by law, the Company and its related bodies corporate will not be liable for any errors, omissions, defects or misrepresentations in the information in this article or for any loss or damage suffered by persons who use or rely on such information (including for reasons of negligence, negligent misstatement or otherwise). © 2024 Indue Limited
