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Ozone API & Tuum team to accelerate open banking worldwide

By Gloria Methri

June 12, 2024

  • Banking Regulations
  • Compliance
  • Estonia

Tuum, Ozone API, Open Banking, Open Finance, FinTech, UK, Estonia, EuropeTuum has teamed up with open banking specialist Ozone API to help its customers comply with open banking regulations and commercialise open finance across the globe.

The partnership combines Ozone API’s standards-based Open API platform with Tuum’s modular core banking solution, which is both cloud-native and based on microservices architecture. This integration will streamline end-to-end business processes by leveraging a pre-integrated ecosystem of best-in-class solutions.

Ozone API supports all major global open finance standards and offers over 400 standard APIs. It helps customers go beyond compliance and commercialise open banking anywhere in the world.

By combining their collective strengths, Ozone API and Tuum aim to create a seamless and comprehensive ecosystem that empowers banks and financial institutions to thrive in the new world of open banking and open finance. In doing so, they will drive innovation in several new markets, benefiting industry players, investors and consumers.

James Bushby, General Manager for Europe and Global Partnership Lead at Ozone API, said, “Our collaboration with Tuum marks a new chapter for open banking and finance globally. Our combined strengths will enable financial institutions to tackle compliance challenges while harnessing the immense opportunities of open banking. Together, we are paving the way for industry disruption, elevated customer experiences, and a more open, connected, and customer-focused financial ecosystem.”

Jean Souto, VP Global Partnerships, Tuum, added, “At Tuum, we understand the need for banks to replace legacy systems quickly and safely, lowering maintenance costs and unlocking new possibilities. Our partnership with Ozone API directly addresses this need, integrating their Open API platform into our partner solutions. This powerful combination enables our clients to navigate open banking compliance while exploring new revenue streams, fostering innovation, and positioning themselves for success in an ever-changing ecosystem.”

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