back Back

Tuum expands Middle East footprint, opens new regional HQ at ADGM

By Delisha Fernandes

April 16, 2024

  • Core Banking
  • Digital Banking
  • fintech MENA
Share

tuum.Tuum, a next-generation core banking provider, has announced its strategic expansion into the Middle East market and the creation of a regional headquarters at ADGM in Abu Dhabi.

The move to expand into the Middle East follows Tuum’s recent Series B funding round led by CommerzVentures, with follow-on investment from Citi Ventures. As indicated at the time, the Series B funds were to be used to spearhead the company’s global expansion, with a particular focus on the Middle East, as well as to accelerate the development of its core banking platform, which in this case involves enhancing the solution to meet the regional-specific requirements of financial services companies operating in the Middle East.

“Tuum is committed to transforming the banking industry with our modular, flexible, and user-centric banking platform. Our expansion into the Middle East, supported by our recent funding success, is testament to our commitment to bring this transformation to a region ripe for digital banking innovation,” said Myles Bertrand, CEO of Tuum. “Opening our office at the  ADGM is a strategic step that not only brings us closer to our Middle Eastern clients but also underscores our dedication to being an integral part of the region’s FinTech growth story.”

Tuum’s cloud-native core banking platform is versatile, offering deployment options such as SaaS (with the first regional deployment on Google Cloud in Saudi Arabia) and bank-hosted public, private, or hybrid environments. This flexibility ensures regulatory compliance in every country in the Middle East, while also leveraging the scalability and flexibility of cloud deployments.

To ensure the success of its regional operations, Tuum has also begun assembling an on-the-ground team of sales and industry experts with deep knowledge of the Middle Eastern financial landscape, who can offer tailored support to customers in the region.  In addition, Tuum is deepening its collaboration with existing partners such as Deloitte and Publicis Sapient, which have a strong presence in the region.

This expansion is a key milestone in Tuum’s mission to revolutionize banking around the globe. With its innovative platform and strong foundation in the Middle East, Tuum is set to become a pivotal player in the region’s FinTech evolution.

Previous Article

April 16, 2024

Paystand integrates B2B Payments with Microsoft Dynamics 365 Business Central

Read More
Next Article

April 16, 2024

India’s Veefin expands Supply Chain Finance & Digital Lending in Africa with Computech Limited

Read More






IBSi Daily News Analysis

UAE, money transfer

May 23, 2024

Core Banking

By 2034, the digital remittance market is expected to reach $83.2bn, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 24, 2024

FinTech Focus: Catch latest developments of the week

Read More

May 24, 2024

Raqami Islamic digital banking & 1LINK to drive digital financial services

Read More

May 24, 2024

Iraqi FinTech ZainCash goes live with Temenos

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023