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Nomo taps Snowdrop to enhance user digital banking experience

By Gloria Methri

May 09, 2024

  • Banking technology
  • Digital Transaction Solutions
  • FinTech
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Nomo, Digital Bank, Islamic Banking, FinTech, Snowdrop Solutions, UK, EuropeSnowdrop Solutions, a provider of advanced transaction enrichment solutions for financial services companies, has partnered with digital bank Nomo, part of the Bank of London and The Middle East.

This collaboration empowers customers who use Nomo’s app with a richer, more visually enhanced banking experience. Through this integration, customers will benefit from Snowdrop’s transaction enrichment API called Merchant Reconciliation System API or MRS.

The MRS API provides access to more precise, richer, and comprehensive transaction data, including:

Enhanced Merchant Details: Provide clear merchant logos and accurate merchant names, fostering trust and delivering a seamless user experience. Showing these merchants on a Google Map so Nomo users can see exactly where purchases were made, eliminating confusion and reducing inquiries about unfamiliar transactions.

Contact Information: Users can easily access merchants’ contact information directly within the Nomo app. This simplifies communication and streamlines any inquiries or requirements users may have regarding their transactions.

Improved Categorisation: Transactions will be automatically categorised for better budgeting and expense tracking. This not only aids in responsible financial management but also empowers users to make informed financial decisions based on accurate information.

The new Nomo app combines these elements with the latest banking technology, creating an immersive, international digital banking experience for its clients. This commitment to providing a superior user experience, coupled with Snowdrop’s enriched transaction data, enhances Nomo’s position at the forefront of digital, Sharia-compliant financial services.

“We are thrilled to welcome Nomo as a customer and excited to help them build a better digital banking experience,” said Kenneth Hart, CEO and Founder of UK-based Snowdrop. “This collaboration builds on our recent success with Boubyan Bank in Kuwait, further solidifying Snowdrop’s commitment to transforming the financial services landscape in the Middle East and globally.”

“Nomo’s app has been a key part of our commitment to providing GCC customers with a seamless way to apply for and access a UK banking account. Partnering with Snowdrop is an important next step in enhancing our customer experience, and we hope new and existing customers will enjoy the improved user journey,” said Ian Hayward, Head of Product, Nomo Bank.

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