London, 6 March 2024 – NTT DATA, a global business and IT services leader, today announces the launch of a corporate Center of Excellence (CoE), based in Iberia, focused on using cloud native technology from Tuum to ease deployments and reduce time-to-market for banks looking to replace core systems.
This alliance between NTT DATA and Tuum will strengthen both companies’ ability to deliver superior customer success. It combines Tuum’s rich functionality, which extends across multiple business lines including accounts, lending, cards, and payments, underscored by its microservices architecture and API-first approach, with NTT DATA’s extensive suite of professional services. The strategic partnership is designed to integrate Tuum’s smart migration techniques with NTT DATA’s broad spectrum of professional services and successful migration experience to deliver cost-effective, scalable banking solutions worldwide. This enhances the value proposition of NTT DATA’s portfolio, offering robust, full-service capabilities that address the multifaceted needs of today’s financial institutions.
This relationship allows Tuum to focus on what it does best — developing and innovating its platform — while NTT DATA delivers professional services excellence. It is this strategic focus that enables Tuum to maintain the lean capital structure of a product-focused, SaaS company and scale effectively, a point where many fast growth companies stumble.
Center dedicated to core banking modernization
Made up of highly qualified teams, NTT DATA’s CoE operates with consultants specialized in banking with extensive experience of developing digital transformation projects, particularly core banking modernization programs. These involve the adoption of cloud native solutions that are more flexible, and secure, with easier and better integration to break through technologies such as Artificial Intelligence. A recent NTT DATA research study with 650 global banking decision makers validates that AI and cloud are dual drivers for innovation and growth. In summary, NTT DATA is relentlessly advancing its expertise and resources to help clients navigate and surmount the complexities of digital transformation, ensuring their systems are modernized and primed for the future of finance.
Investment geared towards international projects
The launch of this center was motivated by NTT DATA’s desire to invest in Portugal, but also to take advantage of existing talent to deliver banking modernization solutions for other markets where the company is present. This showcases the company’s global capabilities to drive, develop and integrate end-to-end projects, as well as the expertise that the company holds for years in the banking sector, one of its strongest worldwide.
José Manuel Pérez Bajo, Partner and Head of Banking Modernization at NTT DATA, says, “We are delighted to partner with Tuum to enhance our Banking Modernization value proposition. At NTT DATA we are convinced that moving business processes and applications to Next Generation Core Banking Platforms is a must in every modernization program within the sector. From our Centers of Excellence in Spain and Portugal we can deliver specialized services, accelerators, and experience to any of our clients in the region.”
Jean Souto, VP Global Partnerships at Tuum, says, “This alliance with NTT DATA is a milestone for Tuum, marking a significant step in our journey to redefine core banking globally. Through this partnership, we are excited to amplify the impact of our next generation banking platform, driving innovation and efficiency for financial institutions. Our collaborative efforts with NTT DATA’s CoE will ensure that our clients not only keep pace but lead in a rapidly evolving financial landscape, leveraging our agile and adaptive banking solutions tailored for the future.”
About NTT DATA
NTT DATA – a part of NTT Group – is a trusted global innovator of IT and business services headquartered in Tokyo. We help clients transform through consulting, industry solutions, business process services, IT modernization and managed services. NTT DATA enables clients, as well as society, to move confidently into the digital future. We are committed to our client’s long-term success and combine global reach with local client attention to serve them in over 50 countries.
About Tuum
At Tuum, our mission is to allow banks to replace their legacy systems quickly and safely, to lower their maintenance spending and to open up new possibilities to adapt and prosper in the digital world; in short, to set them free.
We employ a smart migration approach to help banks to move off their current systems. Using this approach, our clients go-live on average within 7 months.
Once live, our system enables banks to easily launch new products and open up new verticals. Offering more than core, Tuum allows banks to operate multiple business lines from a single system, including accounts, lending, payments and cards, as well as go further through access to a pre-configurated ecosystem of partner solutions.
Tuum also allows for business transformation. Our business builder gives banks the fine-grained settings to precisely configure their operating, sourcing and distribution models to launch unique models to capitalise on the possibilities of digitization.
Tuum. Core banking. Without limits.
Get in touch to find out more.