Neonomics has introduced a new product suite called Nello that aims to improve open banking through AI-driven solutions and a simplified payment experience. Neonomics is licensed by the Norwegian FSA as a pan-European authorized payment institution and provides payment initiation and account information services to a wide range of businesses.
Nello AI and Nello Pay launch in EU and UK
Neonomics aims to improve the way businesses and consumers interact in the field of financial services by introducing new solutions. The company’s products aim to provide insights, automation, and security to enable users to have a more efficient and simplified experience with payments and financial management.
What is Nello AI?
Nello AI is a personal finance manager app created by the team at Neonomics who wanted to improve traditional financial services where consumer needs are often overlooked. Given the cost of living crisis and the pressures of consumerism, Nello leverages the latest open banking and AI technologies to help customers improve the way they spend their money.
Representatives from Neonomics highlighted that Nello AI was developed on a vertically integrated banking API infrastructure across Europe and the UK and features orchestration upgrades. The platform provides personalized payments, insights and predictions for bills, budgeting, investing, mortgages and loans for individuals and families. Among its features, the company mentions rewards for budget adherence, monthly reviews, spending scores, forecasting, proactive budgeting, and an AI assistant called Nel that helps with finances.
Additionally, Nello AI will be available as a white-label integration for financial institutions, allowing them to upgrade the engagement of their banking and insurance apps. In 2025, Neonomics plans to release Nello as a standalone app that provides insights from direct interactions with consumers.
What is Neropay?
Nello Pay is an open banking-powered payment service designed to adapt to the evolving demands of modern payments. After focusing on open banking and launching its checkout solution, Neonomics introduced Nello, a service that integrates conveniently and provides an upgraded user experience.
Nello Pay offers bank-backed payment guarantees along with automatic payment due dates, increased loyalty, and real-time payment updates. Although Nello Pay is primarily designed for a simplified banking payment experience, it is also one of the first open banking solutions to offer card payment options. Aiming to support the transition from cards to bank payments, Neonomics plans to work with merchants to facilitate and manage this process, while incentivizing the transition for end users.
