Company Database - Banked

A global payments network built on modern banking rails

Website

https://banked.com/

Company description

Banked powers real-time payments for consumers, businesses, and banks, improving customer experience, payment security, business efficiency, and cost-effectiveness. A better way to take and make payments.

Active since

2016

Head office

UK, London

Country offices in

US, Lithuania, Australia 

Founders

Brad Goodall (CEO), Neil Ambler (President), Ellie Fernandes, Patrick Cox

Funding rounds and investors

USD 54 million – Bank of America, National Australia Bank, Citibank, Insight Partners, Acrew, Edenred Capital Partners, Love Venutres, 9 Yard Capital Force over Mass, Sidekick, Firestarter, Backed

Number of employees

100+

Awards

Great Place to Work 2023, Fintech Start up of the Year 2023 (Fintech London), Pay 360 Best Direct Account to Account solution 2023, CBI Insight Fintech 100

Contact

For details please contact us at enquiries@banked.com

Core solution

The company`s core solutions

We are a  global payments platform, focusing on creating new payment solutions solving merchant and consumer problems with direct bank payments. 

What problem does the company solve?

What’s really important to us is delivering the best end to end customer experience and adding value into the payment process. We do this with a tailored checkout flow, a localised user experience by market and segment and with a flexible incentives platform embedded into the infrastructure.

Major use cases & products

Banked : allows businesses to take secure and instant digital payments at a fraction of the cost of cards, whilst giving a consumer a simple and secure checkout experience that connects them directly to their bank account to make a payment. There is no card number data entry, no financial details are shared and there is no account to create and maintain.

Competitive advantage

Banked : allows businesses to take secure and instant digital payments at a fraction of the cost of cards, whilst giving a consumer a simple and secure checkout experience that connects them directly to their bank account to make a payment. There is no card number data entry, no financial details are shared and there is no account to create and maintain.

Geographical coverage

US, UK, EU, APAC

Connected banks

Banked works with T1 Banks, PSPs, gateways, and acquirers to provide direct bank payment services to a wide range of merchants and business types.

What account type do you serve: consumer, business, or corporate?

All account types available via the bank availability. 

Account coverage (%) across countries/regions

Across all regions 80%+

Do you offer a developer portal? 
What tooling do you provide for developers?
Do you provide sandboxes and a testing environment?

For details please contact us at enquiries@banked.com

Number of signed-up developers

For details please contact us at enquiries@banked.com

Number of total end users

For details please contact us at enquiries@banked.com

Target market

Target segments

We target segments that our bank partners and use cases are most aligned to. For details please contact enquiries@banked.com

Current customers

For details please contact us at enquiries@banked.com

Technology

Type of technology used

Public cloud

Software language

Golang, NodeJS, WebComponents
Software developement tools GitHub, Terraform, 

When was the core technology developed?

Banked's technology is continuously envolving, with >60% of our platform deployed in 2022

Licencing

Supported licences

For details, please contact our team at sales@banked.com.

Partners

Technology partners

Gravy, Primer, Google Cloud, and many more. 

Distribution channels

Regulated banks, PSPs.

Business model

Pricing model

For details please contact us at enquiries@banked.com

Revenue streams

We earn revenue by charging a fee for every transaction. The more payments volume that we can process, the more revenue we earn. Our B2B business model allows us to access hundreds of merchants through our partnership network. 

Business strategy resources

We look to the business model of successful payments network like Visa and PayPal to learn from and build out our business strategy. 
In addition, we continue to evolve our strategy around our partnership model by having frequent dialogues with our partners to bring Pay By Bank solutions to their merchants in different markets. "

Case studies

Case studies – examples

For details please contact us at enquiries@banked.com

Product roadmap

Planned features and releases

For details please contact us at enquiries@banked.com