Agents and strata managers will have more power over their Macquarie Active Banking accounts with a new system removing the manual process of opening or closing an account.
According to the bank, clients will now have the ability to open and close specific accounts online - including sales deposits, bond accounts, and strata cheque and investment accounts.
Additionally, there is now the facility to submit domestic telegraphic transfers online.
Shaun Bassett, head of residential real estate segment at Macquarie Relationship Banking, said the changes were made after feedback from the industry.
“We are always reviewing and assessing our current systems to see where improvements can be made,” Mr Bassett said.
“As a key component of the administration of their clients’ accounts, our clients informed us that opening and closure of accounts was a strong focus area.
“Understanding our clients’ business demands allows us to provide tailored solutions.”
According to Mr Basset, in an average month thousands of account opening and closure requests are being performed.
“Enhancing the online capability for Active Banking will greatly improve efficiencies and reduce manual processes for our clients who are undertaking these requests,” he concluded.