In its business pitch, Nustom, the startup asserts that "we believe that in ten years, most software will be created by non-technical people working with AI." What takes a team of experts weeks or months to complete now will merely take minutes, cost very little, and be available to everyone. Individual tools tailored to each person's need will replace items that are designed to fit all."

After working for the app-only bank for nine years, Templestein left Monzo in December. Oliver Beattie, who was the vice president of architecture at Monzo until leaving the bank in 2021 after six years, joins him at Nustom. Beattie has had positions at fintech companies Pleo and Imprint.

Chief operational officer Maria Campbell, a former Monzo head of people and most recently COO of rival bank Griffin, is another Monzo alumna hired. Two engineering leads, Eugenio Marchiori of Google and Fred Jonsson, a former staff engineer at Monzo, complete the founding team.

Initially, Nustom plans to develop SaaS products based on foundation models developed by companies such as Mistral, Anthropic, and OpenAI.

In order to "guarantee the quality of the software until our AI agents are reliable enough to do it without assistance," the company states that human engineers would be employed initially.