NAB Group has announced the appointment of Kanishka Raja (pictured) as chief executive officer of its digital-bank subsidiary, Ubank, effective immediately.
Raja brings extensive experience in banking strategy, data-led innovation, and business performance, along with a deep understanding of the evolving needs of digitally savvy banking customers.
Les Matheson, Ubank chair and NAB chief operating officer, welcomed the appointment.
“Kanishka is a highly capable and dedicated leader with a passion for innovation and customer experience,” Matheson said in a media release. “His leadership will be instrumental as Ubank continues to scale and deliver simple, smart banking for Australians.”
Raja succeeds Philippa Watson, who departed in June this year. He has been part of the Ubank leadership team for four years, previously leading the home lending business and later the everyday banking, growth, and data & analytics teams.
Before joining Ubank, Raja held leadership roles at Commonwealth Bank, focusing on strategy, performance, data, and analytics, and spent several years with Boston Consulting Group.
Raja steps into the CEO role as Ubank continues to gain industry recognition, recently winning the “Fintech Lender Award” at the MFAA national conference for the fourth consecutive year. This accolade followed the launch of Ubank’s upgraded broker platform, which streamlines and speeds up the broker lodgement experience.
“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.”
From January, Raja will report to Pete Steel, NAB Group executive of digital, data & AI, when Steel joins NAB Group.
Steel’s newly created role is designed to accelerate NAB’s strategic focus on digital transformation, customer experience, and AI-driven innovation. Reporting to NAB Group CEO Andrew Irvine, Steel will oversee digital, data, and AI teams, customer onboarding, design, and Ubank itself.
Ubank has recently celebrated milestones such as rolling out smart money management features, launching passkeys for app-based banking, and automating home lending. With its ongoing focus on supporting brokers and customers, Ubank is well positioned for continued growth and innovation into 2026.
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