Intellias & Nomo FinTech Celebrate the Second Anniversary of Their Technology Cooperation

The companies have worked closely to build an international digital banking platform to ensure financial freedom for Nomo FinTech’s customers around the world

London, UK—October 24, 2023 – Intellias, a global technology enabler for Fortune 500 enterprises and digital natives, and Nomo Fintech, the pioneering technology start-up behind the world’s first fully digital international Islamic bank, are celebrating their two-year collaborative journey and joint contributions to the international digital banking industry.

The companies have been working together on a digital banking platform called Nomo, allowing customers from Gulf Cooperation Council (GCC) states to benefit from the UK banking system by conducting seamless daily transactions, providing 24/7 access to their funds, and growing their wealth in accordance with Sharia rules.

Commencing with Kuwait a couple of years ago, Nomo Fintech has continued to bring partnerships to life through innovative products built with world-class technology that scale as a business and expand into new markets, particularly in the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA).

As a trusted engineering partner for Nomo Fintech, Intellias has been a part of the entire development journey, from ideation to production, providing software engineering, DevOps and infrastructure, data engineering, quality assurance, and security. Intellias’ technological expertise and IT consulting have enabled Nomo FinTech to introduce innovative digital financial services and create seamless banking experiences for Nomo’s valued clientele.

Since the partnership’s inception, significant business milestones have been achieved:

  • An open-banking (PSD2) interface was implemented, enabling third-party applications to integrate with Nomo, access users’ banking information, and facilitate payments;
  • The Partners Web Portal for Property Brokers and Advisors was launched;
  • The residential mortgage application process through brokers and the Nomo mobile app was streamlined;
  • Rental Refinance Mortgages went live with the team currently working on the anticipated Joint Mortgage Applications journey, migrating all APIs to Kubernetes and PostgreSQL as a part of a company-wide strategy of becoming a cloud-agnostic product.

As a result of these joint efforts, Nomo FinTech has acquired a range of improvements in system performance and cost efficiency via:

  • Optimized infrastructure, automation, and security compliance;
  • Enhanced visibility and control thanks to the implementation of a GitOps process;
  • Up to 6x faster CI/CD building and testing pipelines, reducing time and hardware resource consumption for serverless builds;
  • An average 30% reduction in deployment time;
  • An almost threefold ownership expense reduction thanks to migration to an alternative monitoring and analytics platform.

Nomo’s business has thrived, attracting new clients and expanding its market share. Its client count currently surpasses 38,000 active customers in the GCC region, and this number continues to grow steadily. Its client base in the UK is also expanding, having already reached several hundred clients with substantial growth potential in 2024.

Since choosing Intellias as our scale-up partner for software engineering and delivery, we were able to significantly ramp up our engineering efforts. Intellias was very helpful in optimizing the hiring and onboarding processes. Their response to the outbreak of the war in Ukraine, to support business continuity while at the same time supporting the company’s staff, was impressive. As a result, we were able to leverage highly motivated individuals delivering high-value tech outcomes for the business. Subsequently, this summer, when we had massive demand to scale up within a short time span, Intellias came through, and we were able to successfully onboard a large number of highly motivated engineers with the support of our internal tech leads.

Vaishakh Nadgir, Head of Engineering at Nomo FinTech

Working together with Nomo Fintech’s professionals has been a transformative and mutually beneficial experience for us. We’ve grown significantly—from a small team to more than four dozen dedicated professionals, united by our passion for technology and a shared commitment to modernizing Islamic finance. We are looking forward to extending our win-win technology partnership, bringing value to Nomo’s customers, and paving the way for the digital banking services of the future.

Andrii Redko, Delivery Director, Head of FS&I Department at Intellias
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