National Australia Bank (NAB) has acquired fintech firm Banked, which specialises in account-to-account (A2A) payments and Pay by Bank services.
Financial details of the transaction were not disclosed.
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In a statement, NAB said the acquisition strengthens its “innovative payments capability” as it seeks to help more businesses receive payments faster and at a lower cost.
Banked, founded in 2018, operates as a Pay by Bank and payments orchestration platform that supports real-time account-to-account payments.
The platform enables funds to be transferred directly from a customer’s bank account to a merchant, reducing reliance on credit or debit cards.
NAB Group Executive, Transformation, Shane Conway said: “Pay by Bank is part of a broader shift in Australia’s payments landscape toward real‑time, account‑to‑account options that sit alongside cards and digital wallets. Customers expect making payments to be fast, easy and reliable, and Banked helps us deliver that.”
NAB has previously worked with Banked as a partner and investor.
The bank’s venture capital arm, NAB Ventures, invested in Banked across funding rounds in 2022, 2023 and 2024, and was a minority shareholder before the acquisition.
NAB also began using Banked’s technology for its business customers in 2024.
The Australian lender added that, in the near term, the Banked group of entities will operate as wholly owned subsidiaries. It plans to integrate Banked into its technology environment in the coming months.
Banked co‑founder and CEO Brad Goodall said: “The Banked team have worked hard to build a globally proven payments platform focused on the modern demands of developers and merchants of all sizes and scale. Having the backing of NAB will allow the platform to reach more customers.”
