Kanishka Raja has been named Chief Executive Officer of Ubank, the digital banking subsidiary of National Australia Bank (NAB Group), effective immediately. The announcement was made by NAB Group on March 9, 2025.
Raja brings extensive experience in banking strategy, data-driven innovation, and business performance. He has a background in addressing the needs of customers who prefer digital banking services.
Les Matheson, Chair of Ubank and NAB Chief Operating Officer, commented on the appointment: “Kanishka is a highly capable and dedicated leader with a passion for innovation and customer experience. His leadership will be instrumental as Ubank continues to scale and deliver simple, smart banking for Australians.”
Raja takes over from Philippa Watson, who left the position in June 2024. Before becoming CEO, Raja spent four years on Ubank’s leadership team where he led Home Lending before moving to roles overseeing Everyday Banking, Growth, and Data & Analytics. His previous positions include various leadership roles at Commonwealth Bank focusing on strategy and analytics, as well as time at Boston Consulting Group.
“I’m honoured to lead Ubank at a time when digital banking is reshaping how Australians manage their money,” Raja said. “Ubank’s commitment to simplicity, transparency and customer-first innovation is what drew me here, and I look forward to working with the talented Ubank team to build on the momentum we have created.”
Starting January 2025, Raja will report to Pete Steel when Steel assumes his role as NAB Group Executive of Digital, Data & AI.
Recent developments at Ubank include new app features aimed at smarter money management, the introduction of passkeys for app-based access, and automation in home lending processes. These initiatives are part of the bank’s ongoing efforts to focus on digital solutions for younger Australian customers.