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Tuum & DDCAP Ethos to offer pre-integrated FinTech solutions for Islamic financial market

By Delisha Fernandes

May 23, 2024

  • Core Banking
  • Financial Institutions
  • fintech MENA
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tuum.Tuum, a next-generation core banking provider, and DDCAP Group™ (DDCAP) have partnered to offer a pre-integrated FinTech solution to enhance the end-to-end trade execution and processing of Sharia-compliant transactions.

From the partnership, DDCAP and Tuum clients will gain the ability to migrate legacy, automated trade execution and post-trade support services for Sharia-compliant financing and other credit products via a seamlessly integrated offering made available exclusively through the Tuum core banking solution in partnership with DDCAP’s ETHOS AFP™ (ETHOS).

“DDCAP is very excited by this strategic partnership. Both we and Tuum share a mission to bring new and efficient systems solutions to our customers, in order to facilitate both a rapid lead-in to implementation and a swift migration from legacy systems. Our integrated offering will enable Islamic financial market participants access to a platform that can operate multiple business lines from a single system. This will ease the launch of new products and enhance the efficiency of existing ones to better compete and succeed in the digital world” said Stella Cox CBE, FCSI(Hon), Managing Director, DDCAP Group™.

This integration will deliver further enhancement to the automation of Islamic asset-based transactions, featuring functionality to enable full trade initiation by the customer whilst prioritising the Sharia-focused integrity and validation of the end-to-end solution.

The deployment of APIs will remove manual intervention during the trade and post-trade cycles, thereby providing the Tuum core banking customer with access to a fully integrated, Sharia-compliant interface from DDCAP ETHOS.

“Tuum is thrilled to collaborate with DDCAP, a leader in Sharia-compliant solutions. This partnership represents a significant milestone in our commitment to delivering the most advanced, next-generation Islamic core banking solutions. By integrating with DDCAP’s ETHOS AFP™, we are not only enhancing our Islamic product offerings but also reinforcing our strategic investment in the Middle East. Together, we aim to empower financial institutions in the region with seamless, Sharia-certified solutions that meet the evolving needs of their customers,” said Jean Souto, VP, Global Partnerships at Tuum.

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