MYOB users will get faster NAB QuickBiz loan approvals – and also five new bank feeds.
MYOB will soon integrate its accounting software with NAB's QuickBiz Loan application process. A QuickBiz Loan provides eligible NAB customers with up to $50,000 in unsecured lending.
Providing the bank with access to the business's accounting data will speed up the approval process.
"With the lending environment changing, we are looking to continually provide our customers with convenience when it comes to funding," said MYOB general manager of industry solutions Andrew Birch.
"Last year, we also partnered with small business lender OnDeck to help ease the process for businesses when it comes to approving and funding small business loans. For us, it's important that we help our customers harness the opportunity to grow."
Five new bank feeds for MYOB users
In related news, MYOB has revealed plans to add five new bank feeds, including Cairns Penny, P&N Bank and Bartercard Australia. These feeds will be added over the coming month.
"No longer do customers go to the one bank or brand to look after their needs, they want choice and more efficiency from service providers," said Birch.
"Looking back over the last 12 months, we are proud of the mammoth effort it has been to provide customers with the key integrations they need through our various partners. Customers now have access to a range of different service offerings which provide them with choice and efficiency, making life easier for SMEs and their accountants."
Disclosure: The writer holds NAB shares.