(15 May 2026 – Australia) NAB Ventures, the bank’s venture capital fund, has held a minority stake in Banked since 2022 and participated in two additional funding rounds over the following two years.
National Australia Bank has acquired full ownership of long-term fintech partner Banked, an open banking vendor specialising in account-to-account (A2A) payments, for an undisclosed sum.
The deal marks the culmination of a partnership that began in 2022 when NAB Ventures, the bank’s venture capital fund, became a minority shareholder in Banked, which was later followed by additional investments in the company in 2023 and 2024.
Since 2024, NAB has deployed Banked’s Pay by Bank technology to enable real-time A2A payments for its business clients. Banked’s orchestration platform has also been adopted by the likes of Bank of America, Citi, and FIS.
On the deal, Shane Conway, NAB’s group executive for transformation, states: “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.”
In the coming months, the Aussie bank says it intends to “integrate Banked into the NAB technology environment”. Until then, Banked’s group of entities will operate as wholly owned subsidiaries of the bank.
“Bringing Banked into NAB will continue to make it easier for customers to connect with us and manage payments, reconciliation, and settlement in one place,” continues Conway.
Founded in 2018 and led by CEO Brad Goodall, Banked has been bolstering its Australian footprint prior to the acquisition, including the purchase of Sydney-based open banking payments provider Waave in 2024.