Neonomics has introduced a new product suite called Nello, aimed at elevating Open Banking through AI-driven solutions and simplified payment experiences. Neonomics is authorised by the Norwegian FSA as a licensed payment institution throughout Europe and provides payment initiation and account information services to various businesses.

Nello AI and Nello Pay launch in the EU and the UK  With the introduction of new solutions, Neonomics aims to improve how businesses and consumers interact in the realm of financial services. The company’s products intend to offer insights, automation, and security, enabling users to have a more efficient and simplified experience when it comes to making payments and managing their finances. What is Nello AI? Nello AI is a Personal Finance Manager app created by a team at Neonomics who wanted to improve the traditional financial services that usually overlook consumer needs. Considering the cost-of-living crisis and the pressure of consumerism, Nello leverages modern Open Banking and AI technology to assist customers in  improving how they spend their money. Neonomics representatives underlined that Nello AI was developed on a vertically integrated banking API infrastructure across Europe and the UK, featuring orchestration upgrades.

The platform offers personalised payments, insights, and predictions for bills, budgeting, investments, mortgages, and loans for individuals and families. Among the features, the company mentions rewards for budget adherence, monthly reviews, spending scores, predictions, proactive budgeting, and an AI assistant named Nel to help with finances. Moreover, Nello AI will be available as a white-label integration for financial institutions, enabling them to upgrade engagement in their banking or insurance apps. In 2025, Neonomics plans to launch Nello as a standalone app to provide insights from direct consumer interactions. What is Nello Pay? Nello Pay is a payment service powered by Open Banking, designed  to adapt to the evolving demands of contemporary payments.

After focusing on Open Banking and launching its Checkout solution, Neonomics introduced Nello, a service that can be integrated conveniently and provides an upgraded user experience. Nello Pay will provide payment guarantees supported by banks, along with automated due dates, loyalty boosts, and real-time payment updates. While primarily designed for a simplified pay-by-bank experience, Nello Pay will also be among the first Open Banking solutions to offer an option for card payments. Aiming to support the transition from card to pay-by-bank,  Neonomics plans to facilitate and manage this process while collaborating with merchants to motivate end users to make the switch.

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