Iress, a leading technology provider for the financial services industry, and Nomo Bank, a pioneering Sharia-compliant digital bank in the UK, have announced a significant partnership.
Iress, known for its comprehensive software solutions, including trading and market data, financial advice, and mortgage services, has integrated Nomo Bank’s mortgage products into its platforms, Xplan Mortgage and Trigold.
Nomo Bank, operating under the Bank of London and The Middle East plc (BLME), stands out as the newest Islamic bank in the UK and holds a substantial share of the European Islamic banking assets, amounting to $7.8bn.
Iress is a global technology firm that caters to the financial sector by providing essential software and services across trading & market data, financial advice, investment management, mortgages, and more. Their solutions support over 10,000 businesses and half a million users worldwide.
Iress’s Head of Business Development, Sourcing, Warren O’Connell said, “Islamic finance is an increasingly important part of the UK banking system, with demand growing steadily. Bringing Nomo Bank on board is firmly in line with our strategy to offer the widest range of products to our customers.”
Nomo Senior Business Development Manager, Zeenat Shaffi said, “Nomo’s Sharia-compliant residential and buy-to-let property finance allows customers in the UAE, Saudi Arabia, Kuwait, Bahrain and Qatar to buy or refinance properties in the UK. This partnership with Iress will help us reach even more brokers, and enable them to see how our products compare with high street banks.”
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