Collaboration to provide banks and fintechs access to a global gateway for card management and payment processing solutions.
London – September 19, 2023 – Tuum, leading next-gen core banking provider, and Paymentology, the world’s premier next-gen global issuer-processor, have solidified a strategic partnership aimed at introducing a comprehensive, pre-integrated card payment processing and core ledger solution tailored for the European and Middle East markets.
With a united vision to reshape the financial services landscape, Tuum and Paymentology have jointly developed these cutting-edge applications to seamlessly integrate and empower banking and fintech clients to effectively address the ever-evolving demands of modern consumers. This partnership combines Tuum’s advanced Card Management System (CMS) with Paymentology’s sophisticated card issuer and processing platform, bridging a crucial gap in financial services.
Drawing upon Paymentology’s extensive expertise in card issuance and processing across diverse regions, including the Middle East, Tuum’s customers gain instant access to a global gateway to streamlined card management and payment processing.
Conventional approaches typically require complex and costly customizations to launch new financial products. The Tuum and Paymentology proposition makes it quick and easy for business users to innovate and quickly launch new offerings to market to gain competitive advantage without the burden of significant investment or ongoing expenses associated with frequent changes.
David Oppenheim, Global Head of Ecosystem Partnerships at Paymentology, shared his thoughts about the partnership: “We are very excited to announce our partnership with Tuum. Our shared technological philosophy will empower joint customers to rapidly deploy and refine card-linked financial products. The reduced investment and change-related costs will enable our customers to innovate in a cost-effective manner and capture market share within their respective regions.”
Jean Souto, Global Head of Strategic Partnerships at Tuum, echoed this sentiment, stating, “We are thrilled to announce this partnership. This collaboration holds particular significance for our expansion into the Middle East market, as we leverage Paymentology’s regional expertise to deliver seamless and innovative financial solutions to our clients. By combining Tuum’s secure and reliable core banking foundation with the pre-built integration enabling businesses to create customised card programs and manage the end-to-end card lifecycle directly through our native CMS User Interface, we are empowering our mutual customers to innovate, provide exceptional financial experiences and competitor differentiation.”
At Tuum, our mission is to allow banks to quickly and safely replace their legacy systems, 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.
Since its founding in 2019, the company has expanded its customer base throughout Europe and is located in Tallinn, Barcelona, and London.
Paymentology is the leading next-gen global issuer-processor. It gives banks, fintechs and telcos the technology, team, and experience to easily issue and process any type of physical or virtual card; prepaid, debit, credit, multi-currency, BNPL, revolving and more. Anywhere in the world, rapidly and at scale.
Paymentology’s superior multi-cloud Platform offering both shared and dedicated processing instances, vast global presence and richer real-time data, set it apart as the leader in payments. Its payments experts bring deep, local market knowledge on the ground in 60 countries, across 14 time zones, guaranteeing 24/7 support. Paymentology is deeply committed to increasing financial inclusion worldwide, and to making a positive impact in the communities in which it operates.
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