13 Facts About UBank

UBank is an Australian direct bank, that operates as a division of National Australia Bank .

UBank operates under NAB's banking licence and uses its balance sheet, risk management and technology infrastructure.

UBank was launched by Gerd Schenkel and Greg Sutherland for National Australia Bank on 1 October 2008, with the purpose of establishing a presence in the "self directed" customer segment.

UBank operates under NAB's banking licence and participates in the Australian government's deposit guarantee scheme.

UBank was underpinned with the "Nextgen" technology provided by Oracle.

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UBank has been acknowledged as the driver of NAB's fast growth in deposit market share compared to other major banks.

NAB's UBank has been compared to Qantas' Jetstar in terms of a strategy of internal innovation with the objective of opening new market segments for the parent company.

UBank allows applicants to apply online or over the phone for a Term Deposit and deposit their money straight away using BPAY.

UBank was cited as an example of effective use of nontraditional marketing such as social media, but uses traditional marketing such as print and television.

UBank launched a series of YouTube videos called UBank Moneybox, meant to educate and entertain.

In February 2016 UBank launched a new visual identity, designed to reposition the bank as a "utility".

In 2016, UBank launched a controversial advertising campaign using terminally ill people which garnered many complaints.

In 2019, UBank introduced the world's first "digital human", named Mia, who aimed at helping home buyers apply for their home loans.