Algbra Group and its fintech-as-a-service (FaaS) division, Algbra Labs, have partnered with Gatehouse Bank to support the next step in the bank’s digital transformation.
Gatehouse Bank is a Shariah-compliant UK bank providing ethical savings products and residential property finance for UK customers, expats and international buyers.
Algbra Labs, based in the UK, delivers full-stack proprietary technology as a digital banking solution.
The partnership involves creating a digital account for overseas residents investing in UK property, aiming to improve customer experience and encourage investment in the UK’s Islamic finance market.
Zeiad Idris, CEO at Algbra, said: “Algbra was founded with the mission of building exceptional technology, specifically designed to serve underrepresented communities.
“Partnering with Gatehouse Bank, an established and growing Islamic Finance provider, is a significant milestone in advancing that mission and we are excited to support their work and bring innovative, ethical financial solutions to more people.”
Charles Haresnape, CEO at Gatehouse Bank, said: “While there are many vendors in the market, Algbra Labs stands out due to their strong track record of building Shariah-compliant technology.
“Their expertise and innovation align perfectly with our vision for growth and we look forward to working together to deliver our common goal: to help more people seeking Shariah-compliant finance achieve their aspirations.”
