Plenti Group Limited (ASX:PLT) and National Australia Bank Limited (NAB) have announced the launch of the 'NAB powered by Plenti' car and EV loan to NAB's personal banking customers. This marks the second phase of the strategic partnership between the two entities, following a period of restricted availability to NAB employees, during which the customer experience and underlying operations were further refined and enhanced.
Adam Bennett, CEO of Plenti, expressed his excitement about moving into the next phase of the roll-out with NAB's significant existing customer base. He highlighted the quality of work delivered by both Plenti's and NAB's teams, expressing confidence in the 'NAB powered by Plenti' offering becoming a market leader. Tim Peters, Executive, Personal Lending Experience at NAB, also expressed confidence in the new product, stating that it will provide customers with a fantastic experience and support them in financing their next car or EV.
Plenti and NAB have successfully launched the 'NAB powered by Plenti' car and EV loan to NAB's personal banking customers, representing an important milestone in their strategic partnership. The next 6 months will see controlled volumes as the parties further iterate the product and improve the customer journey. The launch also signifies the achievement of the product milestone required to open the two-month period in which NAB may exercise its rights in relation to Placement 1 of the equity investment agreement. Additionally, Plenti and NAB are progressing the design and development of the renewable energy solution finance referral program for NAB customers, further expanding their collaboration. Adam Bennett, CEO of Plenti, expressed optimism about the long-term success of the opportunity, while also looking forward to the release of Plenti's quarterly trading update in October 2024.