âWe are very excited about this alliance with NAB, one of our first Tier 1 bank customersâ said Mike Aston, Chief Executive Officer of Distra.
âNot only is this a huge vote of confidence for Distraâs next generation payments solutions, but it also offers us an opportunity to work with one of the worldâs premier payments processors in the development of a range of new payments products and servicesâ.
âWe share a common vision. Markets are now demanding modern, agile and transforming solutions to cope with an ever-increasing threat of greater regulation, competition and fraudâ.
âThe investment from NAB significantly strengthens Distraâs proposition in offering banks and other processors a switching product that is truly a long-term, viable alternative to the many legacy systems in use around the world,â Mr Aston said.
âThis alliance will combine Distraâs unique technology together with NABâs extensive payments experience, to create a range of new payments products and services. We see benefits for NAB and our customers, as well as demand in the broader regional and global banking industry for innovative payment services,â said Joseph Healy, EGM Business and Private Bank of NAB.
In addition to its work with NAB in Australia, Distra announced earlier this year its role in providing real-time components to Vocalink and four participating banks to facilitate the UK Faster Payments Service, a real time settlement scheme that went live with many of the UKâs leading banks in May of this year, where the Clydesdale & Yorkshire Bank, a member of the National Australia Group, is also utilising Distraâs faster payments solution.