NAB to establish $50 million innovation fund

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[1] National Australia Bank (NAB) has announced plans to establish a $50 million fund aimed at delivering access to new technology and focus on mobile platforms, payments and data.

[2] The ventures fund is designed to provide access to new technologies that could be deployed into NAB and its customer offering – a way to enhance the bank’s link to new technologies.

[3] The funds, which will be invested over three years in Australia and overseas, will also facilitate the introduction of a digital acceleration program.

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[Source] Australian Information Technology News – NAB to establish $50 million innovation fund