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Australian strata managers, owners’ corporations, and property owners are set to benefit from faster, simpler, and more cost-effective payments through a new partnership between NAB and strata software provider Urbanise, announced today.
The partnership will integrate NAB’s payment solutions and business banking services directly into the Urbanise platform, which already supports around one-third of the country’s major strata managers.
Once the Data and Payments Integration Service launches in early 2026, property owners will be able to pay strata levies using methods that suit them, while strata managers will see time and cost savings from easier payment reconciliation.
NAB business executive Paul Riley said the partnership would enhance efficiency and convenience in strata banking.
“This partnership brings a best-in-class banking and payment management experience to Urbanise’s leading strata software platform to make things faster, simpler and easier for customers,” said Riley.
“Offering integrated payments, payment choice, and reconciliation inside an existing platform like Urbanise enables banking to be part of the overall ecosystem, tailored to meet the specific needs of the strata industry.
“With more high-density housing and greater growth in Australia’s strata market, it’s an opportune time to streamline how strata payments are made and managed.”
Urbanise CEO Simon Lee said the strategic partnership marked a significant milestone for the company.
“The strategic partnership with NAB, Australia’s leading business bank, is an important milestone for Urbanise and illustrates the significant opportunities that exist in the strata banking market,” said Lee.
“It highlights the unique position of Urbanise’s Strata platform which is cloud-based, integration-ready and provides access to a large strata customer base.
“Strata managers are increasingly demanding new technology and banking solutions and better connectivity with their banking needs.
“This partnership will provide strata managers with new options for banking, payments and other financial services needs with the development of an end-to-end payment solution that is integrated into Urbanise Strata and tailored to the strata industry.
“Across the strata industry, we estimate that over $10 billion in strata funds are deposited within the banking sector each year and more than $20 billion is generated through annual transactions involving strata levy and supplier payments.”
Urbanise is a B2B property technology business whose cloud-based software platform serves both strata and facilities managers across Australasia, the Middle East, Europe, and South Africa.
“The partnership with Urbanise is another example of how we’re integrating and simplifying banking and operations for our business customers,” said Riley.
“As Australia’s leading business bank, we are always looking for ways to make it easier for businesses to manage banking and payments for their customers.
“The benefits go beyond the strata sector and show how banking can be built into existing business platforms and ecosystems, adapting to various industry needs.”
As part of the equity investment agreement, NAB has acquired 15 per cent of Urbanise’s share capital via placement and may acquire a further 4.99 per cent through a future placement.
The announcement follows NAB’s recent accolades for its Portal Pay real estate product and integration with a leading rental property management platform.
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