spot_img
Sunday, March 3, 2024
HomeNordic MarketsThe Tuum Advantage: Rich functionality and tailored solutions for diverse markets 

The Tuum Advantage: Rich functionality and tailored solutions for diverse markets 

At its core, Tuum aims to liberate banks by enabling them to swiftly and securely replace their outdated systems, reduce maintenance costs, and unlock new opportunities in the digital realm. 

In the highly competitive financial services industry, it requires more than a stroke of luck for a relatively new digital banking company to establish itself and secure significant projects. Tuum’s selection as the core infrastructure provider for all of LHV UK’s financial operations involving 200 client companies and 10 million end customers globally is a testament to its ability to offer seamless, tailored financial services.  

“What sets Tuum apart is its rich functionality beyond traditional core banking, offering a payment engine with transactional capabilities and a card management system right from the start. This versatility allows Tuum to serve a wide market segment, not only fuelling retail and greenfield projects but also successfully migrating legacy systems in banking institutions, banking as service providers, and Fintech companies,” reveals Edgardo Torres Caballero, Chief Revenue Officer at Tuum.  

“What sets Tuum apart is its rich functionality beyond traditional core banking, offering a payment engine with transactional capabilities and a card management system right from the start.”

Edgardo Torres Caballero, Chief Revenue Officer at Tuum. 

Leveraging Single Source Code 

One of Tuum’s key advantages is the utilization of a single source code. This approach allows for continuous updates and releases encompassing the entire client base. “By consistently updating the core on a single source code basis, Tuum ensures that functional requirements are consistently met, addressing the frustrations often experienced by clients using the legacy systems,” shares Caballero.  

Extensible API Ecosystem 

Tuum’s platform is designed with modernity in mind and is API-first, allowing for seamless integration with various components and 3rd party offerings that form an extensive ecosystem. “It is built to be natively deployed on public Cloud providers, with an agnostic view towards providers like Azure, AWS, Google, and Oracle. 

Recommended: Explore the Future of Finance at Nordic Fintech Week

Additionally, we have an OpenStack model that enables deployment on multi-cloud environments and even private clouds in some instances to meet data residency requirements, such as in Saudi Arabia and Egypt. To facilitate integration, we have a developer portal where users can access the full range of our APIs,” adds Caballero. Through these partnerships, clients can easily integrate and deploy their solutions, creating a flexible and decoupled architecture that accelerates their time to market. 

Scalable Platform Capabilities 

Tuum’s focus revolves around core banking, lending, payments, and card management, with these modules consistently updated to meet client requirements in the declared market segments, including Europe, the UK, and the Middle East. As Tuum expands into new markets like Latin America, the platform is carefully tailored to meet regional requirements before entry. Microservice code enables efficient maintenance of clients’ installed base, ensuring backward compatibility and smooth migration processes.

“Tuum takes pride in the scalability of its platform, allowing it to handle increasing demands seamlessly. With a configuration-first approach, Tuum prioritizes setting up necessary configurations before the migration process begins. This proactive method minimizes the chances of any complications arising during the migration phase,” shares Caballero.  

Client-Centric Culture 

Cultural alignment between your organization and the chosen partner must be strong to implement core banking systems successfully. Since projects often have ups and downs, culture plays a significant role in deployment. “At Tuum, we take pride in our culture, treating our clients as part of our family. We believe that their success is our success, and we prioritize their satisfaction. You can think of it as our end goal to form sustainable relationships through effectual delivery of our services so that our clients can focus on innovating and creating value for their customers, ” concludes Caballero.  

  

Marria Qibtia Sikandar Nagra
Marria Qibtia Sikandar Nagrahttp://www.nordicfintehcmagazine.com
Marria is avid communication and content specialist with a decade-long experience delivering content services to B2B and B2C clients across a range of niches including but not limited to FinTech, Technology, Marketing, Insurance, e-Commerce, SaaS, and Mental Health. She specializes in curating both long-form and short-form content. Her expertise lies in helping her clients develop a robust online and print presence by generating social media traction and improving their search engine visibility.
spot_img