NAB Acquires Banked to Expand Pay-by-Bank Payments Infrastructure

National Australia Bank completed its acquisition of London-based fintech Banked on May 14, 2026. Banked, founded in 2018, operates a Pay by Bank platform that routes payments directly between bank accounts, bypassing card networks and reducing processing costs for merchants. NAB Ventures invested in Banked across three separate funding rounds in 2022, 2023, and 2024.

NAB already held a minority stake and had been deploying Banked's technology for its business customers since 2024. The acquisition converts that minority position into full ownership. Banked's entities will continue operating as wholly owned subsidiaries, with integration planned over the coming months.

Financial terms were not disclosed.