Banked

Banked develops and operates a global payments network engineered on modern bank rails, presenting an alternative to conventional card-based payment systems. The company was established in 2018 in London, United Kingdom, by co-founders Brad Goodall, Patrick Cox, Neil Ambler, and Ellen Thornhill Fernandes. Australian-born CEO Brad Goodall and COO Neil Ambler previously worked together at 10x Future Technologies, a core banking provider, bringing foundational experience in financial technology to their new venture. Goodall relocated from London to Palo Alto, California, to spearhead the company's expansion into the U.S. market.

The firm's primary offering is a 'Pay by Bank' solution that facilitates direct account-to-account payments. For consumers, this translates to a streamlined checkout process that does not require entering card details or sharing financial data with merchants. Instead, users select their bank during checkout and are redirected to their mobile banking application to authorize the payment biometrically. This process enhances security and reduces the risk of fraud. For businesses, the platform offers significantly lower transaction costs compared to card payments, instant fund settlement which improves cash flow, and a virtual elimination of chargebacks. Banked's business model is centered on a white-label distribution strategy, partnering with banks, Payment Service Providers (PSPs), and technology platforms to integrate its Pay by Bank option into their existing infrastructure. This approach allows partners to offer the service to their merchant clients, facilitating broad market reach.

Banked has secured over $50 million in funding across multiple rounds, including a notable Series A round led by Bank of America and a Series A extension led by Insight Partners, with participation from entities like Citi and National Australia Bank Ventures. These strategic investments from major financial institutions underscore their confidence in Banked's model and facilitate key commercial partnerships. The company has actively expanded its global footprint, establishing subsidiaries and offices in the US, Australia, and Lithuania, in addition to its London headquarters. A significant milestone includes the acquisition of VibePay in April 2025 to bolster its global adoption of Pay by Bank services. The company's focus remains on expanding its network, forging strategic partnerships, and driving consumer and merchant adoption of account-to-account payments worldwide.

Keywords: Pay by Bank, account-to-account payments, open banking, fintech, payment gateway, real-time payments, A2A payments, digital payments, e-commerce payments, payment processing, checkout solution, direct bank payments, payment network, financial technology, Brad Goodall, merchant services, payment security, low-cost payments, instant settlement, global payments, Bank of America, Insight Partners