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Executive Summary
Banked is a payment platform that facilitates real-time account-to-account (A2A) bank payments. It aims to provide a faster, more secure, and cost-effective alternative to traditional payment methods like cards. Their 'Pay by Bank' solution enables customers to pay directly from their bank accounts via various channels, including checkout buttons, payment links, and QR codes. Banked offers a range of products, including checkout solutions, payment links, payouts, refunds, and reporting tools, all accessible through a single API. The company emphasizes security, compliance (SCA, PSD2), and fraud reduction, alongside features like instant settlements, customizable checkouts, and customer incentivization.
Industries
Major Markets
United Kingdom
United States
AustraliaKey Competitors
Banked Top Products
Brand Positioning
Banked positions itself as a modern, secure, and cost-effective alternative to traditional payment methods like cards, focusing on real-time A2A payments and instant settlements for businesses and consumers.
Customer Sentiments
Customer sentiment is likely positive, driven by the promise of lower fees, enhanced security, and instant settlements; however, brand recognition may be limited due to its relative newness compared to established players.
Banked Key Value Propositions
Banked offers businesses a payment solution with lower transaction fees, enhanced security, and instant settlements, creating customer loyalty through personalized incentives; Banked provides customers a faster and more secure payment method.
Banked SWOT Analysis
Strengths
Lower transaction fees compared to traditional cards.
Enhanced security features, minimizing fraud.
Real-time payments and instant settlements.
Weaknesses
Relatively new player compared to established giants.
Limited brand awareness in some markets.
Dependence on bank partnerships for adoption.
Opportunities
Further expansion into the US and Australian markets.
Growing adoption of open banking solutions.
Partnerships with more banks and e-commerce platforms.
Threats
Increasing competition in the fintech sector.
Regulatory changes affecting open banking.
Potential security breaches and data privacy concerns.
Banked operates primarily within the fintech industry, specifically in the digital payments domain. Their services fall under the categories of open banking, account-to-account payments, payment gateways, and payment processing solutions. They cater to e-commerce, retail, and financial services sectors, providing tools for online and in-store payments, payouts, and other financial transactions. Their partnerships with banks, payment providers, and technology platforms reinforce their position in the financial technology ecosystem.
Market Growth Stage
Pace of Market Growth
Banked Target Audience
Geographic Insights
Banked has a strong presence in the UK and Europe, with growing markets in the US and Australia, reflecting its expansion strategy and focus on key global economic hubs.
Top Countries
United Kingdom
35% market share
United States
25% market share
Australia
15% market share
Lithuania
10% market share
Germany
5% market share
Banked Audience Segments
Banked's target audience is broad, encompassing consumers, businesses, and banks. For consumers, they target those who seek faster, more secure payment methods and value incentives and rewards. Businesses are targeted based on their need to reduce costs associated with traditional payment methods like cards, manage fraud and risk more effectively, improve cash flow through instant settlements, and enhance customer loyalty through personalized incentives. Banks are targeted as partners to modernize their payment infrastructure and offer innovative solutions to their customers. The partnerships with major financial institutions and retailers point to a focus on larger enterprises in addition to SMEs.
Tech-Savvy Online Shoppers
25-45 years
Male • Female
United Kingdom • United States • Australia
Cost-Conscious E-commerce Businesses
35-55 years
Male • Female
United Kingdom • United States • Europe
Forward-Thinking Banking Executives
40-60 years
Male • Female
United Kingdom • United States • Europe
Small Business Owners
25-40 years
Male • Female
United Kingdom • United States • Canada
Payment API Developers
22-35 years
Male • Female
United States • Europe • India
Social Media Usage Across Segments
Data shown in percentage (%) of usage across platforms
Recommended Marketing Strategiesfor Banked
Interactive ROI Calculator
Implement an interactive ROI calculator on Banked's website to allow potential business clients to estimate cost savings by switching to Banked's payment solution. This will help showcase the potential cost-effectiveness of Banked compared to traditional payment methods, directly addressing a key pain point for businesses.
Learn morePersonalized User Onboarding
Develop a personalized onboarding experience for new users based on their role (consumer, business, bank) and their specific goals with the Banked platform. This tailored approach will help users quickly understand the value proposition of Banked and encourage faster adoption of the platform's features.
Learn moreValue-Based Pricing Implementation
Clearly communicate the value Banked provides beyond just cost savings, focusing on security, fraud reduction, faster settlements, and customer loyalty benefits. Showcase these benefits prominently in pricing communication and marketing materials, reinforcing the overall value proposition to attract businesses and partners.
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