SweepBank launches on Tuum to bring the “Netflix Experience” to the banking industry

By Joy Dumasia

SweepBank, a customer-centric digital banking service offered by Ferratum Bank p.l.c., has announced using Tuum‘s next-generation core banking platform to deliver what it calls the “Netflix experience” to the banking industry.

Utilising Tuum’s banking core, lending, and card capabilities, as well as European SEPA and international FX payments over Swift, SweepBank is revolutionising how banks serve their customers through hyper-personalisation of their offering to meet individual customer needs. Based on their spending and saving habits, customers will receive personalised offers to optimise the way they manage their money. Additionally, SweepBank will utilise the information to roll out new products and services based on customer feedback and expectations.

Tuum was selected for the broad functional coverage of its platform and its modern, flexible approach to core banking, which aligned with SweepBank’s vision of how banks should serve their customers in the modern era. Tuum will now act as a critical component in SweepBank’s goal of achieving sustained growth as they continue to expand their capabilities and rapidly roll out exciting new customer-centric products and services.

Rivo Uibo, co-founder and CBO of Tuum, said: “SweepBank is already making waves in the market, and we are incredibly excited to be working alongside them. This is what Tuum is all about: providing a robust set of functionalities at lightspeed and in a flexible manner, enabling clients to launch new banking experiences and future-proof their operations. With their innovative approach towards personalised banking, SweepBank can deliver what customers have been demanding for years: relevant services, and tailored financial advice and support.”

Julie Chatterjee, CCO and Deputy CEO of Ferratum Bank plc., said: “To disrupt the banking industry by building Netflix like experience for our customers, we need a close partnership with a provider who can support our mission. With Tuum, we have had close cooperation and value the good communication there is between us. With their modern capabilities and flexibility, we have been successful in delivering great products for our customers.”