London, UK, 24th September – Tuum, the leading next-generation core banking provider, today announces that it has appointed David Yates, former CEO and Chairman of UK payment infrastructure provider Vocalink, as its new Chairman.
David Yates has a highly successful track record leading financial technology companies and extensive board experience. After starting his career in sales at IBM, David held numerous executive roles, including Managing Director at Hogan Systems, President International at First Data Corporation, and CEO of Vocalink, where he led the transformation of business from heavily regulated not-for-profit “utility” to recognized international payments platform and oversaw the sale of the business to Mastercard. Following the acquisition, David served as the President of New Payments Platforms at Mastercard, further strengthening his leadership credentials in the global payments landscape. Since stepping back from operational roles, David has built up an impressive non-executive record and currently sits as Chairman of Nium, the leading US-headquartered payments company, and Vice Chairman at Equiniti, the UK-based outsourcing company.
David’s appointment coincides with a period of fast growth and international expansion for Tuum. Since its foundation in 2019, Tuum has grown rapidly across European markets and in 2024, after receiving Series B funding, it entered the Middle East market. Today, Tuum boasts a client base in 11 countries, including leading banks such as OP Financial and LHV Bank.
Heiko Schwender, Managing Partner at CommerzVentures, which led Tuum’s recent Series B fundraise, commented on the appointment: “Given the growth of the business, both in terms of revenues and operational complexity, the Board felt it was the right time to appoint an independent Chairman. We are lucky to have David join us in this role given his wealth of Board experience within the fintech industry and, under his stewardship, we expect the company to continue to thrive.”
Commenting on his appointment, David Yates said: “I am delighted to take on the role of Chairman at Tuum. I have been closely involved with several companies which have sought to upgrade financial infrastructure for the digital age, and the opportunity and need for core banking renewal is particularly pronounced. I look forward to helping Tuum realize its role in reshaping banking technology, instilling the right governance and accountability to ensure growth is sustainable and benefits all stakeholders in the business.”