Quirin Privatbank selects Tuum to modernise core banking platform

By Divya Shah

Why it matters: Accelerates digital transformation: The move highlights how banks are replacing legacy systems with cloud-native core banking platforms to improve agility and efficiency. 

Germany-based Quirin Privatbank has selected Tuum as its new core banking platform as the bank continues to modernise its technology infrastructure and prepare for future growth. 

Quirin Privatbank, which introduced a fee-based advisory model to the German market by charging clients a transparent flat fee instead of earning commissions on third-party financial products, expanded its business over the years into private banking, wealth management and corporate finance. The bank also operated Quirion, its digital wealth management subsidiary. 

James Bushby, CRO, Tuum, said, “The decisions being made now on whether they should modernise their core banking infrastructure will determine what these banks can sell for the next decade. Quirin moved early. Implementing Tuum’s core banking platform means their team will be able to enhance or even launch a new product when they see the opportunity, instead of waiting for a vendor’s roadmap to catch up.”

Under the partnership, Quirin Privatbank adopted Tuum’s Accounts, Deposits, Payments and Loans modules. The implementation was expected to help the bank open new client accounts within minutes, process payments instantly, including SEPA Instant transactions, provide employees with real-time access to transaction data and accelerate regulatory reporting. 

 As part of the transformation programme, the bank also targeted investment execution within one hour. Tuum was positioned at the centre of a broader overhaul of Quirin Privatbank’s technology ecosystem, connecting with other banking platforms to enable seamless data sharing across systems. 

 The bank selected Tuum’s cloud-native and API-first architecture to support flexibility and scalability. The platform was expected to allow Quirin Privatbank to add or replace technology components in the future without disrupting existing operations. 

 The project also aligned with upcoming changes in Germany’s retirement savings market. The country’s Altersvorsorgedepot, a new state-subsidised retirement investment account designed to replace the Riester pension, is scheduled to launch on 1 January 2027. No certified products will be available before that date. 

The bank expected reliability, fast onboarding and efficient digital services to become key factors in attracting and retaining customers, particularly first-time investors entering the market.