News

Nomo Upgrades Its Sharia-Compliant International Bank

The fully digital service will use technology from Paymentology’s card issuing platform to offer a next-generation service.

Published

2 years ago

May 5, 2023

Nour Nasir

nomo upgrades its sharia-compliant international bank

Nomo, the world’s first fully digital Sharia-compliant cross-border bank, has teamed up with leading global issuer-processor Paymentology to build a cutting-edge and seamless customer payment experience.

Nomo offers Middle East customers a wide range of global banking services, including current accounts, property finance, international transfers, and more through its iOS and Android apps. The service also allows users to track spending, make fast payments, and manage their finances more effectively.

Nomo has already benefited from Paymentology’s cloud-based technology by introducing multi-currency accounts offering six currencies – GBP, USD, EUR, KWD, AED, and SAR. The service helps customers avoid exchange fees and provides fast, safe cross-border payments.

Now, as part of the official Nomo / Paymentology partnership, the digital bank will benefit from faster processing times, best-in-class fraud protection, and Mastercard virtual cards. Meanwhile, Paymentology will deliver a real-time data feed, providing granular insights to help Nomo improve its platform.

Martin Heraghty, Regional Director Europe of Paymentology, spoke positively about the collaboration: “As the demand for Sharia-compliant digital products and services continues to grow, Nomo is at the forefront of delivering solutions that cater to the needs of Islamic customers and beyond. With our innovative payment technology, Nomo is paving the way toward a seamless, customer-centric digital banking future. We look forward to launching more ground-breaking services together”.

Also Read: Abu Dhabi Scientists Create Electronic Appetite Regulation Pill

Meanwhile, Sean Gilchrist, CEO of Nomo, explained how Paymentology had improved the Nomo offering: “Paymentology’s technology has helped us build a unique offering for our customers, helping them to conduct cross-border transactions without high fees, directly from the Nomo app. We remain committed to continuously developing innovative solutions and reimagining digital Sharia banking for everyone”.

Related Topics:FinTech Nomo Paymentology

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Yabi Introduces AI Financial Coach For Smarter Money Moves

The app provides real-time, personalized financial guidance, helping UAE residents manage money smarter, reduce debt, and build wealth effortlessly.

Published

21 hours ago

February 22, 2025

Nour Nasir

Yabi

Imagine having 24/7 access to an expert financial advisor — someone who understands your spending habits, helps you save more effectively, and offers guidance for every financial decision. That’s the vision behind Yabi’s revamped platform, an AI-driven finance app designed to transform personal finance management in the UAE.

Unlike traditional budgeting tools, Yabi acts as an always-available AI advisor, analyzing your unique spending patterns and offering real-time, tailored financial advice. Whether you’re making everyday purchases, planning a big trip, or saving for a major milestone, Yabi keeps you on track and helps you make informed financial choices.

Rakhil Fernando, CEO of Yabi, explains the mission behind the platform: “Financial literacy is not optional — it’s essential. But most financial tools today feel outdated and overly complex. Yabi is here to change that by offering AI-powered financial coaching that’s smart, simple, and accessible to everyone in the UAE”.

Here are some of the updated app’s new features:

AI-Powered Financial Coach: A 24/7 digital advisor providing real-time financial guidance based on your spending habits and available in multiple languages.
Live Insights: Connect your bank accounts for a detailed breakdown of your expenses.
Tailored Budgeting: Yabi creates a budget that fits with your actual spending habits rather than generic financial advice.
Interactive Financial Education: Learn the essentials of saving, investing, and credit management through engaging content integrated into the AI experience.
Automated Expense Tracking: Receive instant alerts on overspending, identify hidden charges, and cut unnecessary subscriptions with ease.
Credit Score & Financial Health Monitoring: Get free credit score checks and AI-driven recommendations to enhance your financial standing.

Also Read: A Guide To Digital Payment Methods In The Middle East

Finally, Yabi is also gearing up to introduce its own debit card and a suite of financial products, making it easier to save, spend, and invest within a single platform.

Want to try Yabi for yourself? You can download the app on the Apple App Store and Google Play Store.