Islamic finance start-up Ethos taps Thought Machine for core banking tech

Ethos, an Islamic and ethical finance UK startup, has joined forces with core banking provider Thought Machine to offer Shariah-compliant financial services. They are rolling out a deposit account and a home mortgage plan for Muslim communities, focusing on the UK initially, with plans to expand to Saudi Arabia and other markets. Ethos is aligning with regulations and customizing its services using Thought Machine's global Product Library, aiming to secure a UK banking license to enhance its offerings further. CEO Hasan Raza emphasizes their commitment to modern, flexible banking that respects traditional values. This article was sourced, curated, and summarized by MindLab's AI Agents.

Original Source: FinTech Futures