Nou Bank

At a glance
Nou is a concept bank that demonstrates how banks can quickly build innovative banking products that exceed customer demands.
Solution category
Customer proposition
Built by

The challenge

Customers’ lives are becoming increasingly digital, resulting in ever-changing expectations of their banks. Customers expect fast and easy-to-use digital-only experiences, and innovative, personalised products. Banks are under intense pressure to meet these evolving customer needs, particularly in the face of heightened competition from more agile financial services providers and technology companies.

The solution

Built in just eight weeks, EPAM developed Nou Bank, leveraging Vault Core, to showcase the-art-of-the-possible with Vault Core’s flexible Universal Product Engine and EPAM’s design and delivery expertise. Through a suite of unique products targeting four specific customer segments (Nou Family, Nou Teen, Nou Gold, and Nou Biz), Nou Bank demonstrates how a bank can quickly build hyper-personalised products that include: 1/ tailored insights, recommendations, and incentives based on account activity; 2/ streamlined onboarding experiences with a built-in rewards program; 3/ curated content providing personalised financial advice and recommendations; and 4/ social network integration to enable socially-connected banking and sharing of financial goals and achievements.

Below are descriptions of the four product segments featured in Nou: 

  • Nou Family

This product makes it easy to do all the work that keeps households running smoothly, including managing group accounts, deposits, investments and bills.

  • Nou Teen
    A subset of Family, Nou Teen has everything young people expect from a digital experience today–socially-connected accounts, financial influencer feeds, personalised news feeds, carbon footprint tracking and more. 

  • Nou Gold

Nou Gold shows how banks can provide a digital concierge service with basic underlying banking products and allow groups of clients to interact and collaborate around shared goals.

Nou Biz
With seamless access to business banking capabilities, Nou Biz allows users to manage payroll, transfer money, and access essential accounting tools.

Nou bank image
Nou is a concept bank that demonstrates how banks can quickly build innovative banking products that exceed customer demands.

Increased customer engagement and satisfaction

Build deeper relationships with customers through differentiated, personalised banking experiences and products that cater to the specific needs of diverse customer segments

Rapid Innovation and shortened product development cycles

Using EPAM’s product design and development expertise along with Vault Core’s Universal Product Engine, banks can ideate, design, test and build new products and features rapidly. 

Nou bank image
How the solution works

EPAM has built Nou with three principles in mind: continuous innovation and delivery, high availability, and fully customisable products.

Nou Bank includes components from Thought Machine, EPAM, AWS, and Google Cloud.

Thought Machine’s Vault Core is the core banking platform providing the business logic and financial product management capabilities via its Universal Product Engine.

Nou runs on both AWS and Google Cloud (GCP). Both AWS and GCP provide a comprehensive secure, scalable, and reliable cloud computing platform enabling banks to lower costs, become more agile, and innovate faster.

EPAM and Nou Bank provide the product development and design expertise needed to demonstrate what is possible in banking and to build highly differentiated products that emphasise streamlined onboarding, hyper-personalisation, data-driven financial insights, and socially-connected banking.

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