Naqoda goes live with cutting-edge low-code development platform for banking

  • Innovative core banking platform now live with Britain’s new dedicated agriculture lender, Oxbury Bank
  • Agile, low-code platform offers seamless and secure operating environment designed to let banks focus on proposition development
  • Cutting-edge cloud-based platform designed to offer bank clients unparalleled systems development capabilities
  • Naqoda development platform the brainchild of leading software engineer Erik Bogaerts – with small engineering team determined to set a new standard in core banking systems

London, UK – Leading specialist platform developer Naqoda has gone live with its new cloud-based core banking platform solution with the aim of setting a new standard for core banking systems in the banking market.

Offering a cloud-based, micro-services architecture with an open API gateway, the Naqoda core banking platform has gone live with its first full client – Oxbury Bank – a new-to-market fully licensed SME bank dedicated to the UK agriculture market.

Naqoda has worked with Oxbury Bank since inception to build one of the UK’s most modern, flexible and bespoke core banking platforms operating in the market.

Naqoda’s vision is to provide bank clients with a comprehensive and resilient core banking system, able to support the full range of banking operations, while also putting bank clients in control of their product and service proposition development.

The platform offers an extensive range of core banking features, offering full integration with third party systems making implementation and system extensions easy to implement.

The platform has also been specifically designed to offer low-code development capability so that bank clients are able to control the design, development and implementation of new product and service propositions with flexibility and pace.

Naqoda’s innovative approach is attractive to existing and new banking clients alike. The platform can be deployed for entirely new start-up banks or used by existing players to extend existing systems or modernise legacy applications efficiently and quickly.

Naqoda founder and engineering lead, Erik Bogaerts said, “Our vision for Naqoda has always been to set a new standard for core banking systems – where banks can rely on a robust, resilient and modern operating environment that also puts them in control of their proposition development.

“Traditional core banking players are expensive and take up huge amounts of resource, while the newer cloud-based players prefer to stick to a one-size-fits-all off-the-shelf approach.

Commenting on Oxbury Bank’s experience of working with Naqoda, Oxbury’s CEO, James Farrar, said: “Launching a new Bank with a clear technological advantage needs a core banking system at the heart of the technology stack that is capable of being built flexibly and in close collaboration. Naqoda have worked seamlessly as part of our team to deliver a customer driven infrastructure – something legacy providers just cannot do.”

On the benefits of Naqoda’s new core banking platform, Erik said, “The benefits of Naqoda’s core banking platform become even more obvious in more complex design environments, such as Oxbury, where they were able to tailor their systems for bespoke product and service innovations rapidly, efficiently and at a lower cost.

Naqoda: Philippa Pedersen –
Glenburn Advisory: Anthony Thompson –

About Naqoda:

Naqoda was established in 2011 by software engineer Erik Bogaerts with a vision to create an industry-leading low code development platform that could be deployed for a range of solutions across different industries.

In addition to applications in health, heritage, sport and government, Naqoda provides financial institutions with a Core Banking System that is focused, flexible and fast to implement. The Naqoda Core Banking System builds on the firm’s highly successful “Tax Engine”, a software solution developed for the German banking market.

With its breadth of experience in various sectors and its passion for know-how, Naqoda delivers solutions that delight its customers.

For more information about Naqoda’s solutions, please visit:

About Oxbury Bank:

Oxbury is the UK’s specialist agricultural bank, the only bank with a 100% dedicated focus on British farmers, food producers and the rural economy. It is headquartered in Chester and operates across the UK.

“The real value of the Naqoda platform is the freedom and flexibility it provides to banks to focus on products and service for their own clients. With the Naqoda platform, our clients only need to think about what they want, not how that will get delivered – Naqoda takes care of that.”

“Naqoda is different – we enable banks, new and old, to tailor their systems to their specific needs, at a fraction of the traditional cost – and with our small and focused team of engineers, we can offer our bank clients a real personal service in a traditionally impersonal industry.

The bank is a collaboration of experienced bankers, farmers, technology experts and agricultural entrepreneurs, with backing from the UK’s largest agribusiness firms and leading farmers.

Oxbury’s technology architecture comprises native microservices running as docker containers in AWS, next generation API standards used to power web, mobile and integrated UIs in multi- availability zone deployments to ensure a resilient and secure service supported with passwordless multi-factor authentication. Oxbury’s Core Banking Platform is powered by Naqoda.

Oxbury Bank Plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register number: 834822).

For more information about Oxbury, visit: