Cork-based Nomos Software has partnered with Finnish company XMLdation to deliver software solutions to 15 banks across 10 European countries.

XMLdation will deliver the software as a service, while Nomos Software will provide the backend technology for the services optimised for financial messaging.

"It's all about helping IT teams in organisations to understand banking systems," Nomos chief executive Tricia Balfe said, adding that the software solutions help companies to connect their treasury systems to banking systems.

Nomos sells software to the financial sector that helps to ensure that their financial data complies with business rules leading to a significant reduction in testing cost, schedule and risk, and also assisting in reporting against regulatory requirements.

Based in the Rubicon Innovation Centre at the Cork Institute of Technology, Nomos was set up by Tricia Balfe and David Garry with their redundancy payments from Motorola.

The company is backed by Kernel Capital and Enterprise Ireland which have invested €500,000.