National Australia Bank, Docklands, Melbourne Office. Credit: Decryption512 at English Wikipedia.

National Australia Bank (NAB) is investing A$100m ($74.3m) this year to make its branches better equipped to meet changing customer requirements.

The move increases the lender’s total investment in branch transformation programme to A$160m. Last year, NAB allocated A$60m for branch refurbishments.

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The programme seeks to redesign the branches to meet evolving needs amid increase in digital banking. It will include addition of digital services such as self-service machines as well as creating customer meeting spaces for important conversations.

Around 26 locations are already refurbished, while another 50 branches are expected to be transformed before year-end. Most of these branches are located in regional Australia.

NAB Group Executive Personal Banking Rachel Slade said: “Our digital savvy customers no longer need to visit a branch to withdraw cash, deposit a cheque or to pay a bill.

“They complete these transactions on the go, at a time and location that suits them.

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“Customers will benefit from more meeting spaces with video conferencing facilities and a digital bar so we can provide more guidance on the ways to do everyday banking.

“We’re investing in more smaller format branches so we can provide a convenient location for customers to have important conversations with experienced NAB bankers, either in person or via video.”

NAB will open four new format branches this year- one in New South Wales and three in Victoria.

Currently, there are more than 600 NAB branches and business banking centres around Australia.

NAB customers can also use Australia Post outlets across the country for basic banking services.