“Can Greece's largest legacy bank become the embedded banking infrastructure layer for Greek businesses by opening its rails to ERP and software ecosystems?”
National Bank of Greece is Greece's oldest and largest commercial bank, historically operating as a universal bank covering retail, business, and corporate banking. Over the last several years it has invested heavily in open banking infrastructure, launching a developer portal with Account Information, Payment Initiation, and Confirmation of Funds APIs. A key strategic pivot has been the creation of embedded banking partnerships — notably Epsilon Pay with EPSILON NET and OnePay with SoftOne — directly embedding NBG banking services into ERP systems. Simultaneously, NBG spun off its card acceptance business into a joint venture (NBG Pay) with Global Payments, signalling a shift from owning the full payments stack to partnering with specialist infrastructure providers.
National Bank of Greece discloses National Bank of Greece S.A. (in-house) as its banking provider, according to the Embedded Finance Index 2026.
National Bank of Greece does not disclose a bank charter of its own; its banking services are provided through National Bank of Greece S.A. (in-house).
National Bank of Greece processes payments through Global Payments (NBG Pay joint venture, self-operated via NBG PAY S.A.).
National Bank of Greece's cards are issued through National Bank of Greece S.A. (in-house).
National Bank of Greece's lending and capital products are provided by National Bank of Greece S.A. (in-house).
National Bank of Greece connects to bank accounts through GoCardless, Salt Edge and Volt.
National Bank of Greece's embedded insurance is provided by Ethniki Insurance (in-house subsidiary).
National Bank of Greece integrates with EPSILON NET (Pylon, Galaxy, Smart ERP via Epsilon Pay), SoftOne (Soft1, Atlantis ERP via OnePay) and Generic ERP via NBG Connector API.
The Embedded Finance Index 2026 maps 8 layers in National Bank of Greece's stack: Payments / PSP (Global Payments (NBG Pay joint venture, self-operated via NBG PAY S.A.)); Banking / BaaS (National Bank of Greece S.A. (in-house)); Card issuing (National Bank of Greece S.A. (in-house)); Lending (National Bank of Greece S.A. (in-house), Amortization Loan for Small Enterprises, Working Capital Limit (revolving), Lump-sum Working Capital Loan and 11 others); Insurance (Ethniki Insurance (in-house subsidiary)); Open banking (GoCardless, Salt Edge and Volt); Accounting (EPSILON NET (Pylon, Galaxy, Smart ERP via Epsilon Pay), SoftOne (Soft1, Atlantis ERP via OnePay) and Generic ERP via NBG Connector API); Transaction enrichment (Dateio).
National Bank of Greece is founded in 1841 and headquartered in Athens, Greece.
Get a read on where your own stack stands against National Bank of Greece and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.