The latest UKTN podcast now coming out. This week’s guest is Brad Goodall, co-founder and CEO of Banked.
Founded in 2018, Banked offers software that allows consumers to make payments without entering bank details.
The London-based company provides an open banking infrastructure that connects commercial banks and consumer banks, allowing customers to pay via link, SMS or QR code.
“We have very big ambitions,” says Goodall UKTN podcast leading Mark McDonough. “We are trying to divert the flow of payments from traditional rails, be it credit card rails or bank transfers by hand.”
During the show Goodall explains where the idea of Banked came from, shares his views on open banking and hiring talent.
Prior to Banked Goodall was involved in several ventures, including the “non-sexual end of fintech” with consolidated reporting for financial planning.
He also tried with a friend a not very successful T-shirt printing business: “I don’t think anyone bought us a T-shirt so it obviously didn’t go anywhere.”
But his experience working in startups and scales has sparked in his hunger for fast-growing businesses.
Banked, which raised nearly £ 19 million, including Fr. £ 15 million, Series A in February – and my plans to expand in the US later this year.
Elsewhere on UKTN podcastThe head of Banked explains how open banking can help reduce fraud.
“In the case of an open bank payment, you would have to steal someone’s mobile phone, then you would have to steal access to the mobile phone, and then to its mobile banking application,” says Goodall.
“And that’s why the barriers to creating this scam are so high – because of things like biometric technology and some things that are built into mobile phone operating systems – that scams are greatly reduced for the consumer.”
Goodall also talks about working and getting investments with people like Bank of America.
“We believe that incumbents are a significant part of our network,” Goodall says.
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The UKTN podcast is sponsored Unclosedwhich provides investments without a stake in the capital of 10,000 to 5 million pounds to the founders and companies that are changing the world.