Logic appears sound THGH, NAB labs would be working on the REA deal, ISX have been talking to NAB Labs (as well as the bank which is where the primary deal resides).
If they want a fully integrated online experience they are going to need to automate the KYC verification, which one presumes would currently be done F2F or by certified docs mailed in (so not currently completely automated even if done via NAB.com).
Given NAB's assumed eagerness to take market share against prevailing macro headwinds, locking in IP such as ISX with their REA deal also makes sense vs CBA/WBC who hold the majority of the residential prop market loans.
Although I have no idea on materiality in the short term, closer ties to a big 4 bank would provide plenty of additional credibility to the technology.
ISX Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
