Former Mambu MD joins Tuum to lead the growth of its next-generation core banking platform into new segments and geographies.
London, 18 May 2023 – Tuum, the next-generation core banking platform, has today announced the appointment of Myles Bertrand as Chief Executive Officer. The timing of the appointment coincides with a period of rapid growth for Tuum, which saw extensive ARR growth last year, and the appointment is part of Tuum’s wider strategy to extend its global reach to become a market leader in core banking.
Bertrand brings significant software and banking experience, including previous experience in the core banking market. Bertrand joins from global B2B digital micropayments platform, DT One, where he was Chief Revenue Officer. Prior to his role at DT One, Bertrand was the Managing Director at Mambu APAC, where he developed strong expertise in core banking technology and in building up and growing the business across the APAC region. As CEO, Bertrand’s focus will be on expanding Tuum’s client base and product offering and growing the team and international footprint in order to become a global market leader.
Myles Bertrand commented on his appointment: “Tuum has developed a highly scalable and functionally rich platform, allowing banks to capitalize on the transformation that is occurring in the banking industry. I am passionate about core banking technology and the impact it will have in transforming the financial services world as we know it. To rejoin this industry as head of the most forward-thinking company in this field is incredibly exciting and I look forward to taking Tuum to the next level.”
Margus Uudam, Founding Partner at karma.vc and Chairman of Tuum’s Board commented: “Myles brings a wealth of invaluable experience to the Tuum team and strong leadership, having driven massive growth in all operations he has run in APAC and globally. Demand for next-generation, core banking technology is growing rapidly and Myles’s expertise in both this unique fast-paced technology area and in managing global expansion will be a huge asset to Tuum as we seek to build on our leadership in the Nordic market to become a global leader in the core banking market.”
Hélène Falchier, Partner at Portage, which led last year’s 15 million Euro investment round, commented on the news: “Global appetite for next-generation core banking solutions has never been higher, and a huge part of our investment is to help bring this world-leading product offer to the international stage, in Middle East and beyond. We are glad to welcome Myles on board and are confident his extensive experience launching products in new markets like APAC will be invaluable in leading Tuum’s strategic market expansion.”
Michele Foradori, Investment Director at BlackFin Capital Partners added: “Modern core banking solutions, equipped with real-time processing and APIs, have become essential for banks worldwide, regardless of size. However, the core banking technology sector remains unique, complex, and fairly nascent. We have been an investor in Tuum since 2020 because of its unparalleled product offering, characterized by exceptional flexibility, functionality, and scalability. The appointment of a CEO with intimate knowledge of this dynamic technology domain will prove invaluable in propelling both the company and the wider market to the next level.”
Founded in 2019, Tuum is seeing strong demand across Europe for its next-generation core banking platform. The platform stands out as both highly modular and functionally rich, allowing existing financial services providers to adopt it across a wide range of products and use cases, and in turn capitalize on changing market conditions to open up new business models and revenue opportunities.