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Tuum and Numeral partner to streamline payments across Europe

By Gloria Methri

July 27, 2023

  • Bank Orchestration
  • Core Banking
  • Europe
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Tuum, Core Banking, Payment Infrastructure, Bank Orchestration, SEPA, Numeral, FinTech, EuropeTuum has partnered with Numeral, a bank orchestration platform to help financial institutions and FinTechs expand across Europe by leveraging a robust payment infrastructure.

The partnership introduces a modern core banking platform that seamlessly connects to the EU, UK, Nordics, and CEE payment rails via partner banks, enabled through a single API connection.

Numeral’s platform is designed for FinTech and financial institutions building payment products on top of their banking partners. Through a single API and central dashboard, it enables seamless bank integrations, faster payments, and real-time data visibility on accounts and payments.

With Numeral’s extensive bank integrations and Tuum’s modular core banking platform, financial institutions can access EU and UK payment schemes such as SEPA, Bacs and FPS as indirect participants, by integrating with multiple UK and EU partner banks. This provides access to partner banks local virtual IBANs or issuing their own local IBANs fostering increased customer trust and combating IBAN discrimination effectively.

Tuum and Numeral joint proposition enables financial institutions to partner with multiple banks and build a robust and resilient payment infrastructure without the need to build additional integrations and operate complex systems.  This approach mitigates the risks associated with relying solely on one bank and ensures uninterrupted payment services for customers.

Édouard Mandon, CEO of Numeral, stated, “Tuum’s approach to modular core banking is completely aligned with ours: financial services companies should be able to build systems that correspond to their specific needs from readily available building blocks. That is why we are delighted to announce our partnership with Tuum today.”

Jean Souto, VP Global Partnerships of Tuum said, “With Tuum and Numeral’s joint proposition, companies can now harness the power of a modular core banking platform and a pan-European bank orchestration platform. This synergy enables them to efficiently launch their services, minimising resource requirements while rapidly scaling their operations throughout Europe and the UK.”

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