Vemi was born with the mission to remove the compromise that millions of people are making between their values and their finances.
Using cutting-edge technology, Vemi aims to address the unmet financial needs of many Muslim and values-led consumers in the UK, by providing ethical financial products and services.
Building up to the release of the Vemi app later this year, we are launching access to our waitlist for those interested in shaping the future of ethical banking and finance.
For too long consumers have had to compromise between their personal financial outcomes and what they believe is good for society. Vemi exists to offer a way forward.
Muslims in the UK remain significantly underserved by mainstream financial institutions, with limited access to fair and transparent products that align with ethical principles and their faith. Despite a growing demand for high quality financial products that adhere to Islamic finance principles - and are therefore non-interest bearing, or not linked to investments in weapons, gambling or alcohol industries, among others - these products remain scarce in the market.
There are more than 4 million Muslims in the UK, with research showing that 86% would choose banking products and services that more closely aligned with their values if offered the option. Most, however, are often having to either compromise on their faith or their user experience and financial goals.
Vemi plans to fill this gap by providing transparent, fair and seamless banking. This starts with our app launch later this year, followed by the launch of ethical home purchase and savings products following bank authorisation.
The demand for ethical banking is not limited to the Muslim community. According to recent studies, over 70% of UK consumers expressed an interest in ethical financial products.2 This trend highlights a broader movement toward values-based banking, where customers prioritise transparency, fairness, and sustainability in their financial choices.
Vemi aims to use its proprietary tech to increase the transparency and value customers should expect.
Vemi is set to become the UK’s first AI-native neo bank, leveraging cutting-edge technology to offer a seamless digital banking experience. Our app scheduled for launch later this year, will provide users with an intuitive and fully digital experience, revolutionising access to Islamic and ethical financial services.
Vemi brings together a diverse team of banking and technology professionals with decades of experience in retail and digital banking, as well as Islamic and ethical finance advisers and scholars. This unique blend of expertise ensures that Vemi is well-positioned to lead the way in this open market space.
Akram Nahhas, Co-Founder of Vemi, said:
“Vemi is built on the belief that customers should not have to choose between their faith, ethics, and financial needs. More and more, customers are demanding products that align with their values, and they are willing to move away from established brands in order to do so. We hope to provide an alternative. We are excited to launch our waitlist ahead of our app launch, and invite customers to join us in shaping the future of ethical banking in the UK.”