Twenty7tec has revealed that Nomo, the digital Sharia bank, has been added to its SOURCE module.
The partnership provides brokers and advisers with access to Nomo’s range of Sharia-compliant property finance products.
Nomo is a UK-based, Sharia-compliant digital bank designed for people with “international lifestyles”. It offers residential and buy-to-let finance products to help customers buy or refinance a home in the UK.
Its products are available to residents in Kuwait, the UAE Kingdom of Saudi Arabia, Qatar, Bahrain and soon the UK.
Nicole Smith (pictured), lender national account manager at Twenty7tec, said: “We are pleased with the opportunity to work with Nomo and to assist with their presence in the Intermediary space. Digital banking is more prevalent than ever in this market, and to support the growth of this in the Sharia-compliant banking world is something we are excited to be a part of.
“Residential and buy-to-let purchase products will be available to SOURCE via our Twenty7tec Velocity platform. In addition, Nomo’s lending criteria will be available to search alongside their products, providing certainty to users earlier in the research process.”
Zeenat Shaffi, senior business development manager – Nomo, added: “We are excited to be part of the lender panel for Twenty7tec, especially as they share our vision for simplifying, streamlining and digitalising financial solutions. This is an important development for us and will help brokers save time, speeding up the application process for their clients. Crucially, it will enable even more customers to access the Sharia-compliant solutions they need to purchase a home.”
