By Gloria Methri
Neonomics has launched an innovative product suite called Nello to transform open banking through AI-driven solutions and seamless payments. Launching across the EU and the UK, Nello Pay and Nello AI aim to transform the way businesses and consumers interact with financial services to deliver insights, automation, and security. This enables users to experience a smarter, faster, and more seamless way to complete payments and manage their finances.
Nello AI is a Personal Finance Manager app built using modern open banking and AI technology to help customers spend on things they like.
“Vertically integrated from the unified banking API infrastructure we have built across Europe and the UK to the orchestration that sits on top, Nello AI will offer personalised payments, insights and predictions when it comes to your bills, budgeting, investments, mortgages and loans, alone or with your family. No matter your starting point, Nello’s unique approach will help you make better informed financial decisions without the bore. Think earning streaks for sticking to your budget, months in review, scoring your spending, predictions, proactive budgeting, and AI-powered Nel to chat with and help you with your finances,” said Christoffer Lund, Head of Product at Neonomics.
Nello AI will be available as a white-label integration for financial institutions and others to integrate easily. They may leverage one-off features or the whole spectrum of offerings to support their efforts to increase engagement within their own banking or insurance apps. Nello will also launch its standalone app in 2025 to further build on the unique learnings that come from interacting with end consumers directly.
What is Nello Pay?
Nello Pay is an efficient, easy-to-integrate payment service powered by open banking, designed to meet the evolving demands of modern payments.
Nello Pay will offer payment guarantees where supported by banks, automated due dates, loyalty boosts and real-time payment statuses. Although designed to be a seamless pay-by-bank experience, it will also have an additional option to pay by card.
Christoffer Andvig, CEO of Neonomics, said about the launch of Nello, “Over the past two years, we have shifted towards a B2B2C model, and the launch of Nello will accelerate this strategy by putting end customers at the forefront. If end users aren’t adopting open banking, the entire ecosystem falls short. We’re leading the charge to make open banking something like you’ve never seen before and top-of-mind for consumers.”
